VIRGINIA RETIREMENT SYSTEMS ET Al Takes $1.88 Million Position in Calix, Inc $CALX

Key Points

• Virginia Retirement Systems ET Al has acquired a new stake in Calix, Inc, purchasing 35,283 shares with an estimated value of $1.88 million, representing about 0.05% ownership.
• Several hedge funds have increased their stakes in Calix, with notable boosts from Signaturefd LLC (36%), Huntleigh Advisors Inc. (5.7%), and CWM LLC (112.6%).
• Calix recently reported a positive quarterly earnings result, with earnings per share of $0.33, surpassing estimates, and revenue of $241.90 million, reflecting a 22.1% year-over-year increase.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Calix, Inc (NYSE:CALX - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 35,283 shares of the communications equipment provider's stock, valued at approximately $1,877,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.05% of Calix at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC boosted its holdings in Calix by 36.0% during the second quarter. Signaturefd LLC now owns 1,370 shares of the communications equipment provider's stock worth $73,000 after purchasing an additional 363 shares during the last quarter. Huntleigh Advisors Inc. boosted its holdings in Calix by 5.7% during the second quarter. Huntleigh Advisors Inc. now owns 10,383 shares of the communications equipment provider's stock worth $552,000 after purchasing an additional 561 shares during the last quarter. CWM LLC boosted its holdings in Calix by 112.6% during the second quarter. CWM LLC now owns 1,335 shares of the communications equipment provider's stock worth $71,000 after purchasing an additional 707 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Calix by 119.7% during the second quarter. GAMMA Investing LLC now owns 1,472 shares of the communications equipment provider's stock worth $78,000 after purchasing an additional 802 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Calix during the first quarter worth about $28,000. 98.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CALX. Weiss Ratings restated a "sell (d)" rating on shares of Calix in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Calix from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. JPMorgan Chase & Co. boosted 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. Rosenblatt Securities boosted their target price 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. Finally, Needham & Company LLC boosted their target price on shares of Calix from $60.00 to $70.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $64.00.

Insider Buying and Selling

In other news, CFO Cory Sindelar sold 10,000 shares of the 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 transaction, the chief financial officer owned 76,555 shares of the company's stock, valued at $4,593,300. This represents a 11.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carl Russo sold 25,000 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $55.40, for a total transaction of $1,385,000.00. Following the completion of the transaction, the director directly owned 2,114,188 shares in the company, valued at $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.

Calix Stock Down 1.0%

CALX opened at $59.53 on Wednesday. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of -148.82 and a beta of 1.32. Calix, Inc has a twelve month low of $28.60 and a twelve month high of $64.30. The company's 50-day moving average price is $60.12 and its two-hundred day moving average price is $51.43.

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. 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 analyst estimates of $223.81 million. During the same quarter in the previous year, the firm posted $0.09 earnings per share. The company's quarterly revenue was up 22.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Calix, Inc will post -0.43 earnings per share for the current year.

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.

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