Morling Financial Advisors LLC Takes Position in Calix, Inc (NYSE:CALX)

Morling Financial Advisors LLC bought a new stake in Calix, Inc (NYSE:CALX - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,160 shares of the communications equipment provider's stock, valued at approximately $750,000.

Other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC boosted its holdings in shares of Calix by 91.1% during the 1st quarter. Signaturefd LLC now owns 1,007 shares of the communications equipment provider's stock worth $36,000 after buying an additional 480 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Calix in the 4th quarter worth $84,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Calix in the 4th quarter worth $208,000. Summit Investment Advisors Inc. lifted its holdings in shares of Calix by 8.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,224 shares of the communications equipment provider's stock worth $217,000 after purchasing an additional 465 shares in the last quarter. Finally, LVW Advisors LLC bought a new position in shares of Calix in the 1st quarter worth $226,000. 98.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Calix

In related news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $39.59, for a total value of $989,750.00. Following the completion of the sale, the director owned 2,139,188 shares of the company's stock, valued at approximately $84,690,452.92. This trade represents a 1.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Cory Sindelar sold 10,000 shares of Calix stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $56.00, for a total value of $560,000.00. Following the completion of the sale, the chief financial officer directly owned 76,285 shares of the company's stock, valued at approximately $4,271,960. This trade represents a 11.59% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,000 shares of company stock valued at $2,069,750. Insiders own 16.90% of the company's stock.

Analyst Ratings Changes

CALX has been the topic of a number of recent research reports. Roth Capital set a $50.00 target price on Calix and gave the stock a "buy" rating in a report on Tuesday, April 22nd. Needham & Company LLC increased their price target on Calix from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Wolfe Research started coverage on Calix in a research report on Monday, July 7th. They issued a "peer perform" rating for the company. UBS Group reissued a "buy" rating on shares of Calix in a research report on Tuesday, April 22nd. Finally, Rosenblatt Securities increased their price target on Calix from $56.00 to $65.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Calix currently has a consensus rating of "Moderate Buy" and an average target price of $59.25.

Calix Price Performance

Shares of Calix stock traded down $0.03 during trading hours on Friday, hitting $55.28. 746,468 shares of the company's stock traded hands, compared to its average volume of 890,906. Calix, Inc has a 12-month low of $28.60 and a 12-month high of $57.90. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of -138.20 and a beta of 1.37. The company has a fifty day simple moving average of $49.79 and a 200-day simple moving average of $41.76.

Calix (NYSE:CALX - Get Free Report) last announced its 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. Calix had a negative return on equity of 3.21% and a negative net margin of 3.09%. The firm had revenue of $241.90 million during the quarter, compared to analyst estimates of $223.81 million. During the same period last year, the firm posted $0.09 EPS. The business's revenue was up 22.1% compared to the same quarter last year. On average, analysts forecast that Calix, Inc will post -0.43 EPS for the current fiscal year.

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

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.