15,294 Shares in Calix, Inc. (NYSE:CALX) Bought by Verition Fund Management LLC

Verition Fund Management LLC bought a new position in Calix, Inc. (NYSE:CALXGet Rating) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 15,294 shares of the communications equipment provider’s stock, valued at approximately $656,000.

Several other hedge funds also recently made changes to their positions in CALX. Point72 Hong Kong Ltd purchased a new position in Calix during the 4th quarter valued at $111,000. PNC Financial Services Group Inc. increased its position in Calix by 865.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,390 shares of the communications equipment provider’s stock valued at $59,000 after purchasing an additional 1,246 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Calix during the 1st quarter valued at $61,000. Lazard Asset Management LLC purchased a new position in Calix during the 1st quarter valued at $85,000. Finally, Pictet Asset Management SA purchased a new position in Calix during the 4th quarter valued at $260,000. 81.28% of the stock is owned by hedge funds and other institutional investors.

Calix Stock Performance

CALX opened at $59.18 on Friday. Calix, Inc. has a 52-week low of $31.59 and a 52-week high of $80.95. The stock has a market capitalization of $3.86 billion, a P/E ratio of 18.91, a P/E/G ratio of 10.13 and a beta of 1.79. The company’s 50-day simple moving average is $55.57 and its two-hundred day simple moving average is $44.51.

Calix (NYSE:CALXGet Rating) last released its quarterly earnings results on Monday, July 25th. The communications equipment provider reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. Calix had a net margin of 28.95% and a return on equity of 8.02%. The firm had revenue of $202.04 million during the quarter, compared to analyst estimates of $196.02 million. During the same quarter in the prior year, the firm earned $0.31 EPS. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. Research analysts forecast that Calix, Inc. will post 0.29 EPS for the current fiscal year.

Insider Activity

In other news, Director Michael Matthews sold 6,000 shares of the company’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $55.70, for a total transaction of $334,200.00. Following the completion of the sale, the director now owns 66,000 shares of the company’s stock, valued at approximately $3,676,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Kira Makagon sold 30,000 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $57.71, for a total value of $1,731,300.00. Following the completion of the sale, the director now directly owns 34,275 shares of the company’s stock, valued at approximately $1,978,010.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Matthews sold 6,000 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $55.70, for a total transaction of $334,200.00. Following the completion of the sale, the director now directly owns 66,000 shares of the company’s stock, valued at $3,676,200. The disclosure for this sale can be found here. Insiders sold 76,000 shares of company stock valued at $4,394,050 in the last quarter. 16.64% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CALX has been the topic of a number of research analyst reports. Northland Securities boosted their price objective on shares of Calix from $55.00 to $65.00 in a research report on Tuesday, September 6th. Westpark Capital started coverage on shares of Calix in a research report on Tuesday, September 13th. They issued a “buy” rating on the stock. Barrington Research upped their target price on shares of Calix from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 26th. Rosenblatt Securities upped their target price on shares of Calix from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, July 27th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $61.00 target price (down 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 nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.90.

Calix Company Profile

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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.

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Institutional Ownership by Quarter for Calix (NYSE:CALX)

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