Calix, Inc $CALX Position Boosted by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems increased its Calix stake by 72.8% in the third quarter, adding 32,000 shares to hold 75,983 shares valued at approximately $2.61 million.
• Institutional investors and hedge funds own 98.14% of Calix, with several major investors—including BlackRock, Paradigm Capital and Fort Washington—recently initiating positions.
• Calix reported quarterly EPS of $0.44, beating estimates by $0.02, while revenue rose 13.7% year over year to $301.71 million. Analysts maintain a “Moderate Buy” consensus with a $57.40 target price, although the stock was trading near $36.08.

VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in shares of Calix, Inc (NYSE:CALX - Free Report) by 72.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 75,983 shares of the communications equipment provider's stock after buying an additional 32,000 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.12% of Calix worth $2,611,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Calix during the 2nd quarter worth about $439,461,000. Paradigm Capital Management Inc. NY purchased a new position in shares of Calix during the second quarter valued at approximately $37,213,000. Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Calix during the third quarter valued at approximately $32,090,000. Bank of America Corp DE acquired a new stake in Calix during the second quarter worth approximately $20,900,000. Finally, Alyeska Investment Group L.P. acquired a new stake in Calix during the second quarter worth approximately $14,931,000. Institutional investors and hedge funds own 98.14% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on CALX. Roth Capital reaffirmed a "buy" rating on shares of Calix in a research note on Tuesday, July 21st. Rosenblatt Securities reduced their price target on Calix from $70.00 to $55.00 and set a "buy" rating on the stock in a research note on Tuesday, July 21st. JPMorgan Chase & Co. decreased their price objective on Calix from $65.00 to $58.00 and set an "overweight" rating on the stock in a report on Wednesday, July 22nd. Weiss Ratings downgraded Calix from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, October 26th. Finally, Zacks Research raised Calix from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 18th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Calix has an average rating of "Moderate Buy" and a consensus target price of $57.40.

Calix Trading Down 2.0%

NYSE:CALX opened at $36.08 on Tuesday. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 48.76 and a beta of 1.32. The firm's fifty day simple moving average is $36.12 and its 200 day simple moving average is $42.57. Calix, Inc has a twelve month low of $32.35 and a twelve month high of $69.73.

Calix (NYSE:CALX - Get Free Report) last issued its quarterly earnings data on Monday, November 2nd. The communications equipment provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. Calix had a net margin of 4.61% and a return on equity of 6.17%. The company had revenue of $301.71 million during the quarter, compared to the consensus estimate of $304.23 million. During the same quarter last year, the company earned $0.44 earnings per share. Calix's revenue for the quarter was up 13.7% on a year-over-year basis. On average, analysts predict that Calix, Inc will post 0.89 earnings per share for the current year.

Calix Company Profile

Calix, Inc provides cloud, software and broadband access solutions to communications service providers. Its technology helps broadband operators deploy, manage and monetize high-speed internet and related services for residential and business customers.

The company's offerings include broadband access systems, subscriber premise equipment, cloud-based software and analytics, and managed services. Its portfolio supports fiber, fixed wireless and other broadband networks, while enabling providers to deliver services such as Wi-Fi management, network security, connected home applications and business connectivity.

Founded in 1999 and headquartered in San Jose, California, Calix serves broadband service providers primarily in North America, with customers and operations in other international markets.

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