Insider Selling: Calix, Inc (NYSE:CALX) CFO Sells 10,000 Shares of Stock

Calix, Inc (NYSE:CALX - Get Free Report) CFO Cory Sindelar sold 10,000 shares of the company's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $56.00, for a total transaction of $560,000.00. Following the completion of the transaction, the chief financial officer owned 76,285 shares of the company's stock, valued at approximately $4,271,960. This trade represents a 11.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Cory Sindelar also recently made the following trade(s):

• On Monday, June 30th, Cory Sindelar sold 10,000 shares of Calix stock. The shares were sold at an average price of $52.00, for a total transaction of $520,000.00.

Calix Stock Up 1.1%

Shares of CALX stock traded up $0.60 during trading on Monday, reaching $55.89. The company's stock had a trading volume of 190,314 shares, compared to its average volume of 772,929. The business has a fifty day moving average price of $49.79 and a 200-day moving average price of $41.79. Calix, Inc has a one year low of $28.60 and a one year high of $57.90. The company has a market cap of $3.65 billion, a price-to-earnings ratio of -139.82 and a beta of 1.37.

Calix (NYSE:CALX - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The communications equipment provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.41. The firm had revenue of $241.90 million for the quarter, compared to the consensus estimate of $223.81 million. Calix had a negative net margin of 3.09% and a negative return on equity of 3.21%. The business's revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 earnings per share. Research analysts anticipate that Calix, Inc will post -0.43 EPS for the current year.

Calix announced that its board has authorized a stock repurchase plan on Monday, April 21st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the communications equipment provider to buy up to 4.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Institutional Trading of Calix

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Calix by 0.5% during the first quarter. Vanguard Group Inc. now owns 8,015,370 shares of the communications equipment provider's stock valued at $284,065,000 after purchasing an additional 37,601 shares during the last quarter. Alliancebernstein L.P. lifted its position in Calix by 12.1% during the first quarter. Alliancebernstein L.P. now owns 2,509,223 shares of the communications equipment provider's stock valued at $88,927,000 after purchasing an additional 270,397 shares during the last quarter. Millennium Management LLC raised its stake in shares of Calix by 77.8% during the fourth quarter. Millennium Management LLC now owns 2,031,212 shares of the communications equipment provider's stock worth $70,828,000 after acquiring an additional 889,102 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Calix by 4.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,832,407 shares of the communications equipment provider's stock worth $63,897,000 after acquiring an additional 74,720 shares in the last quarter. Finally, Congress Asset Management Co. raised its stake in shares of Calix by 2.9% during the second quarter. Congress Asset Management Co. now owns 1,417,944 shares of the communications equipment provider's stock worth $75,420,000 after acquiring an additional 39,447 shares in the last quarter. Institutional investors own 98.14% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Rosenblatt Securities increased their target price on shares of Calix from $56.00 to $65.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Needham & Company LLC raised their target price on shares of Calix from $60.00 to $70.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Roth Capital set a $50.00 price target on shares of Calix and gave the company a "buy" rating in a report on Tuesday, April 22nd. JPMorgan Chase & Co. increased their price target on shares of Calix from $38.00 to $52.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Finally, UBS Group reaffirmed a "buy" rating on shares of Calix in a report on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $59.25.

Calix Company 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.