Arcadia Investment Management Corp MI Makes New Investment in Calix, Inc. (NYSE:CALX)

Arcadia Investment Management Corp MI acquired a new stake in Calix, Inc. (NYSE:CALX) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,000 shares of the communications equipment provider’s stock, valued at approximately $39,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC grew its stake in shares of Calix by 42.1% in the third quarter. Farther Finance Advisors LLC now owns 1,763 shares of the communications equipment provider’s stock worth $68,000 after purchasing an additional 522 shares during the last quarter. US Bancorp DE lifted its holdings in Calix by 399.3% in the 3rd quarter. US Bancorp DE now owns 5,672 shares of the communications equipment provider’s stock worth $220,000 after buying an additional 4,536 shares during the period. Congress Asset Management Co. grew its position in shares of Calix by 30.1% in the 3rd quarter. Congress Asset Management Co. now owns 1,565,471 shares of the communications equipment provider’s stock worth $60,725,000 after buying an additional 361,805 shares during the last quarter. Diversify Wealth Management LLC lifted its stake in Calix by 19.3% in the third quarter. Diversify Wealth Management LLC now owns 10,066 shares of the communications equipment provider’s stock worth $373,000 after acquiring an additional 1,628 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Calix in the 3rd quarter worth about $34,000. 98.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on CALX. JPMorgan Chase & Co. raised their price objective on shares of Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Needham & Company LLC restated a “buy” rating and set a $45.00 price target on shares of Calix in a research report on Tuesday, October 29th. StockNews.com raised Calix from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. Roth Mkm raised their price objective on Calix from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $45.00 target price on shares of Calix in a research report on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Calix Trading Up 0.3 %

Calix stock opened at $35.50 on Friday. Calix, Inc. has a 12 month low of $26.76 and a 12 month high of $45.15. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of -147.92 and a beta of 1.75. The business’s fifty day simple moving average is $37.43 and its two-hundred day simple moving average is $35.28.

Calix (NYSE:CALX) last announced its quarterly earnings results on Monday, October 28th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. The company had revenue of $200.95 million for the quarter, compared to analysts’ expectations of $201.06 million. Calix had a negative net margin of 1.79% and a positive return on equity of 1.33%. Calix’s revenue was down 23.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.25 EPS. On average, equities research analysts predict that Calix, Inc. will post -0.36 EPS for the current year.

Calix Profile

Calix, Inc, together with its subsidiaries, engages in the provision of cloud and software platforms, and systems and services in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its cloud and software platforms, and systems and services enable broadband service providers (BSPs) to provide a range of services.