Inspire Investing LLC Raises Position in Calix, Inc. (NYSE:CALX)

Inspire Investing LLC increased its stake in shares of Calix, Inc. (NYSE:CALX) by 7.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,635 shares of the communications equipment provider’s stock after purchasing an additional 773 shares during the quarter. Inspire Investing LLC’s holdings in Calix were worth $413,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Calix by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 7,323,628 shares of the communications equipment provider’s stock valued at $242,852,000 after purchasing an additional 900,713 shares during the last quarter. Divisar Capital Management LLC bought a new position in shares of Calix during the second quarter valued at approximately $15,876,000. Epoch Investment Partners Inc. grew its stake in shares of Calix by 23.3% during the first quarter. Epoch Investment Partners Inc. now owns 1,164,049 shares of the communications equipment provider’s stock valued at $38,600,000 after buying an additional 219,699 shares during the last quarter. Congress Asset Management Co. MA lifted its stake in shares of Calix by 19.4% during the 1st quarter. Congress Asset Management Co. MA now owns 1,045,867 shares of the communications equipment provider’s stock worth $34,681,000 after acquiring an additional 170,180 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Calix by 10.5% during the 4th quarter. Wellington Management Group LLP now owns 1,755,497 shares of the communications equipment provider’s stock worth $76,698,000 after acquiring an additional 166,695 shares during the last quarter. Institutional investors own 98.14% of the company’s stock.

Insider Activity

In related news, Director Carl Russo sold 25,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $37.56, for a total transaction of $939,000.00. Following the completion of the sale, the director now directly owns 3,723,381 shares in the company, valued at $139,850,190.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 16.69% of the company’s stock.

Calix Stock Performance

NYSE CALX opened at $39.29 on Thursday. Calix, Inc. has a one year low of $26.76 and a one year high of $45.53. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 126.74 and a beta of 1.74. The company’s 50-day simple moving average is $37.31 and its two-hundred day simple moving average is $34.78.

Calix (NYSE:CALX) last issued its quarterly earnings data on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.03. The company had revenue of $198.14 million for the quarter, compared to analyst estimates of $200.77 million. Calix had a net margin of 0.52% and a return on equity of 4.17%. Calix’s revenue was down 24.1% compared to the same quarter last year. During the same period last year, the company posted $0.15 earnings per share. Equities analysts expect that Calix, Inc. will post -0.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on CALX. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Calix in a research report on Tuesday, September 10th. JPMorgan Chase & Co. raised their price target on shares of Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. StockNews.com upgraded shares of Calix from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $45.00 target price on shares of Calix in a research report on Thursday, October 3rd. Finally, Craig Hallum boosted their price target on Calix from $41.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.50.

About Calix

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.