Calix, Inc (NYSE:CALX) CFO Cory Sindelar Sells 10,000 Shares

Calix, Inc (NYSE:CALX - Get Free Report) CFO Cory Sindelar sold 10,000 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $56.00, for a total transaction of $560,000.00. Following the transaction, the chief financial officer directly owned 76,285 shares in the company, valued at approximately $4,271,960. The trade was a 11.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 stock was sold at an average price of $52.00, for a total transaction of $520,000.00.

Calix Trading Down 1.3%

Shares of Calix stock traded down $0.75 during trading on Thursday, hitting $55.27. 1,096,215 shares of the stock traded hands, compared to its average volume of 854,823. The firm has a market cap of $3.61 billion, a P/E ratio of -138.16 and a beta of 1.37. Calix, Inc has a 52-week low of $28.60 and a 52-week high of $57.90. The stock's fifty day simple moving average is $49.59 and its 200 day simple moving average is $41.61.

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

Calix declared that its Board of Directors has authorized a stock buyback program on Monday, April 21st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the communications equipment provider to repurchase up to 4.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Swiss National Bank increased its holdings in shares of Calix by 1.1% during the 4th quarter. Swiss National Bank now owns 116,500 shares of the communications equipment provider's stock worth $4,062,000 after buying an additional 1,300 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Calix during the 4th quarter worth $84,000. American Century Companies Inc. grew its holdings in shares of Calix by 1.3% during the 4th quarter. American Century Companies Inc. now owns 117,545 shares of the communications equipment provider's stock worth $4,099,000 after purchasing an additional 1,537 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Calix during the 4th quarter worth $425,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Calix during the 4th quarter worth $475,000. 98.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CALX has been the topic of a number of analyst reports. UBS Group reiterated a "buy" rating on shares of Calix in a research note on Tuesday, April 22nd. Wall Street Zen cut shares of Calix from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. JPMorgan Chase & Co. upped their price target on shares of Calix from $38.00 to $52.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Wolfe Research began coverage on shares of Calix in a research note on Monday, July 7th. They issued a "peer perform" rating on the stock. Finally, Roth Capital set a $50.00 target price on shares of Calix and gave the company a "buy" rating in a research note on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Calix presently has a consensus rating of "Moderate Buy" and an average price target of $57.40.

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.

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