Magnus Financial Group LLC Makes New Investment in Calix, Inc. (NYSE:CALX)

Magnus Financial Group LLC purchased a new position in shares of Calix, Inc. (NYSE:CALX) during the 3rd quarter, Holdings Channel reports. The fund purchased 5,430 shares of the communications equipment provider’s stock, valued at approximately $211,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CALX. Wellington Management Group LLP lifted its position in 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 buying an additional 166,695 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Calix by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 6,422,915 shares of the communications equipment provider’s stock valued at $280,617,000 after purchasing an additional 58,069 shares during the period. Congress Asset Management Co. MA raised its holdings in shares of Calix by 19.4% in the 1st quarter. Congress Asset Management Co. MA now owns 1,045,867 shares of the communications equipment provider’s stock valued at $34,681,000 after purchasing an additional 170,180 shares during the period. Thompson Investment Management Inc. raised its holdings in shares of Calix by 42.6% in the 1st quarter. Thompson Investment Management Inc. now owns 55,950 shares of the communications equipment provider’s stock valued at $1,855,000 after purchasing an additional 16,725 shares during the period. Finally, Harbour Capital Advisors LLC raised its holdings in shares of Calix by 52.0% in the 1st quarter. Harbour Capital Advisors LLC now owns 10,450 shares of the communications equipment provider’s stock valued at $335,000 after purchasing an additional 3,575 shares during the period. 98.14% of the stock is owned by institutional investors.

Calix Stock Up 0.8 %

Calix stock opened at $39.29 on Thursday. The stock has a market cap of $2.57 billion, a P/E ratio of 126.74 and a beta of 1.74. Calix, Inc. has a twelve month low of $26.76 and a twelve month high of $45.53. The company’s 50-day moving average price is $37.31 and its two-hundred day moving average price is $34.78.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CALX. Craig Hallum upped their target price on shares of Calix from $41.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 target price on shares of Calix in a report on Tuesday, September 10th. JPMorgan Chase & Co. upped their target price on shares of Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $45.00 price target on shares of Calix in a report on Thursday, October 3rd. Finally, Roth Mkm increased their price target on shares of Calix from $43.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Calix has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Insiders Place Their Bets

In other Calix news, Director Carl Russo sold 25,000 shares of the stock in a transaction that occurred 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 16.69% of the company’s stock.

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.