Truvestments Capital LLC Buys New Shares in Calix, Inc. (NYSE:CALX)

Truvestments Capital LLC purchased a new position in Calix, Inc. (NYSE:CALX) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,969 shares of the communications equipment provider’s stock, valued at approximately $76,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Calix by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 7,323,628 shares of the communications equipment provider’s stock worth $242,852,000 after acquiring an additional 900,713 shares during the period. Dimensional Fund Advisors LP increased its position in Calix by 2.6% during the second 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 last quarter. Congress Asset Management Co. raised its stake in Calix by 30.1% during the third quarter. Congress Asset Management Co. now owns 1,565,471 shares of the communications equipment provider’s stock worth $60,725,000 after purchasing an additional 361,805 shares during the period. Paradigm Capital Management Inc. NY boosted its holdings in shares of Calix by 9.5% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,336,900 shares of the communications equipment provider’s stock valued at $47,366,000 after purchasing an additional 115,500 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS grew its stake in shares of Calix by 9.2% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 812,053 shares of the communications equipment provider’s stock valued at $28,771,000 after buying an additional 68,300 shares during the period. 98.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. StockNews.com raised Calix from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Rosenblatt Securities reiterated a “buy” rating and set a $45.00 target price on shares of Calix in a report on Thursday, October 3rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $45.00 price target on shares of Calix in a report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.50.

Calix Stock Performance

NYSE:CALX opened at $32.30 on Wednesday. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of -134.58 and a beta of 1.75. Calix, Inc. has a one year low of $26.76 and a one year high of $45.15. The business’s 50-day simple moving average is $36.22 and its 200 day simple moving average is $35.76.

Calix (NYSE:CALX) last released its quarterly earnings results on Monday, October 28th. The communications equipment provider reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. The business had revenue of $200.95 million during the quarter, compared to the consensus estimate of $201.06 million. Calix had a negative net margin of 1.79% and a positive return on equity of 1.33%. The business’s quarterly revenue was down 23.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 earnings per share. On average, equities research analysts predict that Calix, Inc. will post -0.34 EPS for the current year.

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.