Retirement Systems of Alabama acquired a new position in Calix, Inc. (NYSE:CALX – Get Rating) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 71,944 shares of the communications equipment provider’s stock, valued at approximately $3,087,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd acquired a new stake in shares of Calix in the fourth quarter valued at about $52,000. Hexagon Capital Partners LLC grew its stake in shares of Calix by 75.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,150 shares of the communications equipment provider’s stock valued at $92,000 after buying an additional 493 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Calix in the fourth quarter valued at about $111,000. Exane Derivatives grew its stake in shares of Calix by 12.9% in the fourth quarter. Exane Derivatives now owns 2,449 shares of the communications equipment provider’s stock valued at $196,000 after buying an additional 280 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in Calix during the 4th quarter valued at approximately $201,000. Institutional investors own 90.64% of the company’s stock.
In other Calix news, Director Kevin A. Denuccio sold 12,477 shares of the business’s stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $40.00, for a total value of $499,080.00. Following the completion of the sale, the director now owns 80,000 shares of the company’s stock, valued at $3,200,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Donald J. Listwin sold 33,750 shares of the business’s stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $39.97, for a total value of $1,348,987.50. Following the transaction, the director now directly owns 751,250 shares of the company’s stock, valued at approximately $30,027,462.50. The disclosure for this sale can be found here. 16.64% of the stock is currently owned by insiders.
Shares of NYSE CALX opened at $39.05 on Friday. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 7.19 and a beta of 1.55. Calix, Inc. has a 12-month low of $31.59 and a 12-month high of $80.95. The stock’s 50 day simple moving average is $36.09 and its 200 day simple moving average is $45.30.
Calix (NYSE:CALX – Get Rating) last announced its quarterly earnings results on Monday, April 25th. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02. The business had revenue of $184.95 million for the quarter, compared to the consensus estimate of $177.64 million. Calix had a return on equity of 11.66% and a net margin of 32.17%. The business’s revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. Equities research analysts forecast that Calix, Inc. will post 0.24 earnings per share for the current year.
A number of brokerages have weighed in on CALX. Cowen lowered their price objective on Calix from $57.00 to $48.00 in a research note on Wednesday, April 27th. Needham & Company LLC restated a “buy” rating and set a $60.00 price objective on shares of Calix in a research note on Thursday, May 19th. Cowen lowered their price objective on Calix from $57.00 to $48.00 in a research note on Wednesday, April 27th. Northland Securities raised their price objective on Calix from $45.00 to $50.00 in a research note on Wednesday, April 27th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $61.00 target price (down previously from $69.00) on shares of Calix in a research report on Wednesday, June 22nd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.50.
Calix Company Profile (Get Rating)
Calix, Inc, together with its subsidiaries, provides cloud and software platforms, and systems and services in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company’s cloud and software platforms, and systems and services enable broadband service providers (BSPs) to provide a range of services.
Further Reading
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