Connors Investor Services Inc. Increases Position in Calix, Inc. (NYSE:CALX)

Connors Investor Services Inc. grew its holdings in shares of Calix, Inc. (NYSE:CALX) by 44.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 84,790 shares of the communications equipment provider’s stock after purchasing an additional 26,248 shares during the period. Connors Investor Services Inc.’s holdings in Calix were worth $3,004,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Calix by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 7,323,628 shares of the communications equipment provider’s stock worth $242,852,000 after buying an additional 900,713 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Calix by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,793,545 shares of the communications equipment provider’s stock worth $63,546,000 after purchasing an additional 45,656 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Calix by 10.5% in the fourth quarter. Wellington Management Group LLP now owns 1,755,497 shares of the communications equipment provider’s stock worth $76,698,000 after buying an additional 166,695 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Calix by 516.6% during the 4th quarter. TD Asset Management Inc now owns 1,610,885 shares of the communications equipment provider’s stock worth $70,380,000 after acquiring an additional 1,349,625 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its position in shares of Calix by 14.8% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,233,425 shares of the communications equipment provider’s stock worth $53,888,000 after purchasing an additional 159,250 shares during the period. Institutional investors own 98.14% of the company’s stock.

Calix Price Performance

Calix stock opened at $36.06 on Tuesday. The firm has a market capitalization of $2.36 billion, a P/E ratio of 116.32 and a beta of 1.74. Calix, Inc. has a 1-year low of $26.76 and a 1-year high of $47.15. The company’s 50-day moving average is $36.65 and its 200 day moving average is $34.23.

Calix (NYSE:CALX) last released its earnings results on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.03. The business had revenue of $198.14 million during the quarter, compared to the consensus estimate of $200.77 million. Calix had a return on equity of 4.17% and a net margin of 0.52%. The business’s revenue for the quarter was down 24.1% compared to the same quarter last year. During the same period last year, the company earned $0.15 earnings per share. Research analysts anticipate that Calix, Inc. will post -0.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CALX shares. Rosenblatt Securities raised their price target on Calix from $35.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Needham & Company LLC reissued a “buy” rating and set a $45.00 target price on shares of Calix in a research note on Tuesday, September 10th. JPMorgan Chase & Co. upped their price target on Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Craig Hallum lifted their price objective on shares of Calix from $41.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Roth Mkm upped their target price on shares of Calix from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Calix presently has an average rating of “Moderate Buy” and a consensus target price of $42.50.

Insider Buying and Selling at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $37.56, for a total transaction of $939,000.00. Following the transaction, the director now owns 3,723,381 shares of the company’s stock, valued at approximately $139,850,190.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 16.69% of the stock is currently owned by corporate insiders.

About Calix

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.