Calix (NYSE:CALX) Stock Price Up 3.8% – Here’s What Happened

Calix, Inc. (NYSE:CALX)’s share price rose 3.8% during trading on Tuesday . The company traded as high as $34.57 and last traded at $34.67. Approximately 289,233 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 633,470 shares. The stock had previously closed at $33.39.

Wall Street Analyst Weigh In

CALX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on Calix from $38.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price target on shares of Calix in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.17.

Calix Price Performance

The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of -78.18 and a beta of 1.78. The firm has a fifty day moving average of $37.47 and a 200 day moving average of $36.28.

Calix (NYSE:CALX) last issued its quarterly earnings data on Wednesday, January 29th. The communications equipment provider reported ($0.24) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.31). Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. Research analysts predict that Calix, Inc. will post -0.43 EPS for the current year.

Insider Buying and Selling at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $38.15, for a total value of $953,750.00. Following the sale, the director now directly owns 2,164,188 shares of the company’s stock, valued at approximately $82,563,772.20. This trade represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.69% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Calix

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Polar Asset Management Partners Inc. lifted its position in shares of Calix by 8.4% in the fourth quarter. Polar Asset Management Partners Inc. now owns 607,500 shares of the communications equipment provider’s stock valued at $21,184,000 after acquiring an additional 47,200 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Calix by 159.3% in the fourth quarter. Mackenzie Financial Corp now owns 23,710 shares of the communications equipment provider’s stock valued at $827,000 after acquiring an additional 14,567 shares in the last quarter. North Star Asset Management Inc. lifted its position in shares of Calix by 3.0% in the fourth quarter. North Star Asset Management Inc. now owns 92,390 shares of the communications equipment provider’s stock valued at $3,222,000 after acquiring an additional 2,727 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of Calix in the fourth quarter valued at approximately $300,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Calix by 23.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 159,423 shares of the communications equipment provider’s stock valued at $5,559,000 after acquiring an additional 29,815 shares in the last quarter. Hedge funds and other institutional investors own 98.14% of the company’s stock.

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.