Comerica Bank Buys Shares of 25,555 Calix, Inc. (NYSE:CALX)

Comerica Bank bought a new stake in shares of Calix, Inc. (NYSE:CALX – Get Rating) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 25,555 shares of the communications equipment provider’s stock, valued at approximately $1,003,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CALX. Covestor Ltd acquired a new position in Calix during the 4th quarter valued at about $52,000. Point72 Hong Kong Ltd bought a new stake in shares of Calix during the 4th quarter worth about $111,000. Exane Derivatives raised its position in shares of Calix by 12.9% during the 4th quarter. Exane Derivatives now owns 2,449 shares of the communications equipment provider’s stock worth $196,000 after buying an additional 280 shares in the last quarter. CIBC Asset Management Inc bought a new stake in shares of Calix during the 4th quarter worth about $201,000. Finally, Xponance Inc. bought a new stake in shares of Calix during the 4th quarter worth about $209,000. 90.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Kevin A. Denuccio sold 12,477 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $40.00, for a total transaction of $499,080.00. Following the transaction, the director now directly 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 accessible through the SEC website. In related news, Director Kevin A. Denuccio sold 12,477 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $40.00, for a total transaction of $499,080.00. Following the transaction, the director now directly 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 accessible through the SEC website. Also, Director Donald J. Listwin sold 33,750 shares of the business’s stock in a transaction that occurred on Thursday, May 5th. The shares were sold at an average price of $39.97, for a total transaction of $1,348,987.50. Following the transaction, the director now directly owns 751,250 shares in the company, valued at $30,027,462.50. The disclosure for this sale can be found here. 16.64% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on CALX. Craig Hallum boosted their price target on shares of Calix from $62.00 to $69.00 and gave the stock an “outperform” rating in a research report on Wednesday. StockNews.com assumed coverage on shares of Calix in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Cowen boosted their target price on shares of Calix from $48.00 to $71.00 and gave the stock a “maintains” rating in a report on Wednesday. Barrington Research reiterated a “maintains” rating on shares of Calix in a report on Wednesday. Finally, Cowen boosted their target price on shares of Calix from $48.00 to $71.00 and gave the stock an “outperform” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Calix currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.20.

Calix Price Performance

CALX stock opened at $56.91 on Friday. Calix, Inc. has a 52-week low of $31.59 and a 52-week high of $80.95. The company’s 50 day simple moving average is $37.88 and its 200-day simple moving average is $42.67. The firm has a market capitalization of $3.68 billion, a P/E ratio of 18.18, a P/E/G ratio of 10.50 and a beta of 1.55.

Calix (NYSE:CALX – Get Rating) last released its quarterly earnings results on Monday, July 25th. The communications equipment provider reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. Calix had a net margin of 28.95% and a return on equity of 8.02%. The business had revenue of $202.04 million for the quarter, compared to analyst estimates of $196.02 million. During the same quarter in the previous year, the business earned $0.31 earnings per share. The firm’s revenue was up 19.8% compared to the same quarter last year. Sell-side analysts predict that Calix, Inc. will post 0.24 EPS for the current fiscal year.

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.