Amalgamated Bank Sells 705 Shares of Calix, Inc. (NYSE:CALX)

Amalgamated Bank lessened its position in Calix, Inc. (NYSE:CALX) by 3.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,842 shares of the communications equipment provider’s stock after selling 705 shares during the period. Amalgamated Bank’s holdings in Calix were worth $632,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CALX. Quantbot Technologies LP acquired a new position in Calix in the first quarter valued at approximately $1,145,000. Epoch Investment Partners Inc. grew its position in shares of Calix by 23.3% during the 1st quarter. Epoch Investment Partners Inc. now owns 1,164,049 shares of the communications equipment provider’s stock valued at $38,600,000 after acquiring an additional 219,699 shares during the period. Congress Asset Management Co. MA raised its stake in shares of Calix by 9.6% in the fourth quarter. Congress Asset Management Co. MA now owns 875,687 shares of the communications equipment provider’s stock valued at $38,259,000 after buying an additional 76,546 shares during the period. FORA Capital LLC purchased a new position in shares of Calix in the first quarter worth about $724,000. Finally, Koshinski Asset Management Inc. bought a new position in Calix in the 1st quarter worth about $669,000. Institutional investors and hedge funds own 98.14% of the company’s stock.

Calix Trading Down 0.6 %

NYSE CALX opened at $38.46 on Friday. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 124.06 and a beta of 1.74. The company’s 50 day moving average is $37.20 and its two-hundred day moving average is $34.39. Calix, Inc. has a 12 month low of $26.76 and a 12 month high of $47.15.

Calix (NYSE:CALX) last released its quarterly earnings results on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. Calix had a return on equity of 4.17% and a net margin of 0.52%. The business had revenue of $198.14 million during the quarter, compared to analysts’ expectations of $200.77 million. During the same quarter last year, the business posted $0.15 EPS. The firm’s revenue for the quarter was down 24.1% compared to the same quarter last year. Sell-side analysts forecast that Calix, Inc. will post -0.36 EPS for the current year.

Insider Activity at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $37.56, for a total transaction of $939,000.00. Following the transaction, the director now owns 3,723,381 shares in the company, valued at $139,850,190.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 16.69% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CALX has been the topic of several recent analyst reports. StockNews.com raised Calix from a “sell” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. boosted their price target on shares of Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Rosenblatt Securities upped their price objective on shares of Calix from $35.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Needham & Company LLC reissued a “buy” rating and set a $45.00 price target on shares of Calix in a research report on Tuesday, September 10th. Finally, Craig Hallum boosted their target price on shares of Calix from $41.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.50.

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.