Calix, Inc $CALX Shares Sold by Connors Investor Services Inc.

Key Points

• Connors Investor Services Inc. reduced its holdings in Calix, Inc by 14.2%, now owning 87,962 shares worth approximately $4.68 million after selling 14,570 shares in the second quarter.
• Calix recently reported $0.33 earnings per share for the last quarter, surpassing analyst expectations, with revenue reaching $241.9 million, up 22.1% year-over-year.
• Institutional investors hold 98.14% of Calix's stock, with several hedge funds increasing their positions significantly in recent quarters.

Connors Investor Services Inc. trimmed its holdings in shares of Calix, Inc (NYSE:CALX - Free Report) by 14.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,962 shares of the communications equipment provider's stock after selling 14,570 shares during the period. Connors Investor Services Inc. owned about 0.13% of Calix worth $4,679,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position 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 buying an additional 37,601 shares in 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 buying an additional 270,397 shares in the last quarter. Congress Asset Management Co. lifted its position in 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 valued at $75,420,000 after buying an additional 39,447 shares in the last quarter. Alyeska Investment Group L.P. lifted its position in Calix by 26.3% during the first quarter. Alyeska Investment Group L.P. now owns 1,032,292 shares of the communications equipment provider's stock valued at $36,584,000 after buying an additional 215,028 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Calix by 135.6% during the second quarter. Assenagon Asset Management S.A. now owns 947,738 shares of the communications equipment provider's stock valued at $50,410,000 after buying an additional 545,490 shares in the last quarter. 98.14% of the stock is owned by institutional investors and hedge funds.

Calix Price Performance

CALX opened at $59.29 on Thursday. The stock has a market capitalization of $3.87 billion, a PE ratio of -148.21 and a beta of 1.32. The firm's fifty day moving average price is $60.13 and its 200 day moving average price is $51.48. Calix, Inc has a 12-month low of $28.60 and a 12-month high of $64.30.

Calix (NYSE:CALX - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The communications equipment provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.41. The firm had revenue of $241.90 million for the quarter, compared to analysts' expectations of $223.81 million. Calix had a negative net margin of 3.09% and a negative return on equity of 3.21%. The firm's quarterly revenue 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. On average, equities research analysts forecast that Calix, Inc will post -0.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Calix

In related news, CFO Cory Sindelar sold 10,000 shares of the company's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $60.00, for a total value of $600,000.00. Following the sale, the chief financial officer directly owned 76,555 shares of the company's stock, valued at $4,593,300. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carl Russo sold 25,000 shares of the business's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $55.40, for a total transaction of $1,385,000.00. Following the sale, the director owned 2,114,188 shares of the company's stock, valued at approximately $117,126,015.20. The trade was a 1.17% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 16.90% of the company's stock.

Analysts Set New Price Targets

CALX has been the topic of a number of recent research reports. Zacks Research cut shares of Calix from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 22nd. Wall Street Zen raised shares of Calix from a "hold" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Needham & Company LLC boosted their target price on shares of Calix from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Roth Capital boosted their target price on shares of Calix from $60.00 to $69.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. Finally, Wolfe Research initiated coverage on shares of Calix in a research report on Monday, July 7th. They set a "peer perform" rating on the stock. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $64.00.

Calix 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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