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

Calix, Inc (NYSE:CALX - Get Free Report) CFO Cory Sindelar sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $52.00, for a total transaction of $520,000.00. Following the completion of the transaction, the chief financial officer directly owned 76,285 shares of the company's stock, valued at $3,966,820. This represents a 11.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Calix Stock Down 1.5%

Shares of CALX traded down $0.80 during midday trading on Tuesday, reaching $52.39. 1,004,280 shares of the stock were exchanged, compared to its average volume of 690,183. The company has a market cap of $3.40 billion, a price-to-earnings ratio of -100.75 and a beta of 1.35. Calix, Inc has a 12-month low of $28.61 and a 12-month high of $53.66. The firm has a 50 day simple moving average of $45.54 and a 200-day simple moving average of $39.47.

Calix (NYSE:CALX - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The communications equipment provider reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.06. The firm had revenue of $220.20 million for the quarter, compared to the consensus estimate of $206.98 million. Calix had a negative return on equity of 4.14% and a negative net margin of 4.20%. During the same quarter in the prior year, the company posted $0.21 earnings per share. Research analysts expect that Calix, Inc will post -0.43 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

Several analysts have recently commented on CALX shares. Rosenblatt Securities raised their target price on Calix from $52.00 to $56.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. UBS Group restated a "buy" rating on shares of Calix in a research report on Tuesday, April 22nd. Needham & Company LLC reissued a "buy" rating and issued a $53.00 price target on shares of Calix in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. raised their price target on shares of Calix from $34.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, April 23rd. Finally, Roth Capital set a $50.00 price objective on shares of Calix and gave the company a "buy" rating in a research note on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $48.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd acquired a new position in Calix during the fourth quarter worth $512,000. Amundi acquired a new position in shares of Calix during the 4th quarter valued at about $330,000. HighTower Advisors LLC raised its stake in shares of Calix by 30.5% in the 4th quarter. HighTower Advisors LLC now owns 118,245 shares of the communications equipment provider's stock valued at $4,123,000 after acquiring an additional 27,622 shares in the last quarter. TradeLink Capital LLC acquired a new stake in Calix in the 4th quarter worth approximately $299,000. Finally, Vanguard Group Inc. lifted its holdings in Calix by 5.5% in the 4th quarter. Vanguard Group Inc. now owns 7,977,769 shares of the communications equipment provider's stock worth $278,185,000 after purchasing an additional 412,982 shares during the last quarter. Institutional investors own 98.14% of the company's stock.

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.

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