Morling Financial Advisors LLC Invests $750,000 in Calix, Inc (NYSE:CALX)

Morling Financial Advisors LLC acquired a new position in shares of Calix, Inc (NYSE:CALX - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 21,160 shares of the communications equipment provider's stock, valued at approximately $750,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CALX. Summit Investment Advisors Inc. lifted its position in Calix by 8.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,224 shares of the communications equipment provider's stock valued at $217,000 after buying an additional 465 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Calix by 91.1% in the 1st quarter. Signaturefd LLC now owns 1,007 shares of the communications equipment provider's stock worth $36,000 after acquiring an additional 480 shares during the last quarter. Portside Wealth Group LLC grew its position in Calix by 8.0% in the 1st quarter. Portside Wealth Group LLC now owns 8,414 shares of the communications equipment provider's stock valued at $298,000 after acquiring an additional 621 shares in the last quarter. OV Management LLC increased its holdings in Calix by 0.8% during the 4th quarter. OV Management LLC now owns 139,603 shares of the communications equipment provider's stock worth $4,868,000 after purchasing an additional 1,094 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of Calix by 0.6% during the 4th quarter. Wellington Management Group LLP now owns 202,274 shares of the communications equipment provider's stock worth $7,053,000 after purchasing an additional 1,135 shares during the last quarter. Institutional investors and hedge funds own 98.14% of the company's stock.

Calix Trading Up 1.8%

CALX stock traded up $0.98 during trading on Monday, hitting $56.27. The company had a trading volume of 300,272 shares, compared to its average volume of 773,867. The company has a fifty day moving average price of $49.79 and a two-hundred day moving average price of $41.79. Calix, Inc has a fifty-two week low of $28.60 and a fifty-two week high of $57.90. The company has a market cap of $3.67 billion, a P/E ratio of -140.50 and a beta of 1.37.

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

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

Insider Transactions at Calix

In related news, CFO Cory Sindelar sold 10,000 shares of Calix stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $56.00, for a total transaction of $560,000.00. Following the completion of the sale, the chief financial officer owned 76,285 shares of the company's stock, valued at approximately $4,271,960. The trade was a 11.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 16.90% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on CALX. Rosenblatt Securities lifted their price objective on shares of Calix from $56.00 to $65.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Wall Street Zen raised shares of Calix from a "hold" rating to a "strong-buy" rating in a research report on Saturday. JPMorgan Chase & Co. raised their target price on shares of Calix from $38.00 to $52.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. UBS Group reaffirmed a "buy" rating on shares of Calix in a research report on Tuesday, April 22nd. Finally, Wolfe Research began coverage on Calix in a research report on Monday, July 7th. They set a "peer perform" rating on the stock. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Calix presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.25.

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.