State of New Jersey Common Pension Fund D Invests $2.04 Million in Calix, Inc. (NYSE:CALX)

State of New Jersey Common Pension Fund D bought a new stake in Calix, Inc. (NYSE:CALX) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 52,615 shares of the communications equipment provider’s stock, valued at approximately $2,041,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Calix by 14.0% in the first 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 period. Divisar Capital Management LLC acquired a new position in Calix in the 2nd quarter valued at about $15,876,000. Congress Asset Management Co. raised its stake in Calix by 30.1% during the 3rd quarter. Congress Asset Management Co. now owns 1,565,471 shares of the communications equipment provider’s stock valued at $60,725,000 after acquiring an additional 361,805 shares during the last quarter. Epoch Investment Partners Inc. lifted its position in 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 worth $38,600,000 after acquiring an additional 219,699 shares during the period. Finally, Squarepoint Ops LLC grew its stake in shares of Calix by 82.7% in the 2nd quarter. Squarepoint Ops LLC now owns 300,346 shares of the communications equipment provider’s stock valued at $10,641,000 after purchasing an additional 135,916 shares during the last quarter. Hedge funds and other institutional investors own 98.14% of the company’s stock.

Calix Trading Down 2.7 %

CALX stock opened at $29.31 on Friday. The firm has a 50 day moving average of $36.64 and a 200-day moving average of $35.62. The company has a market cap of $1.94 billion, a price-to-earnings ratio of -122.13 and a beta of 1.75. Calix, Inc. has a 12-month low of $26.76 and a 12-month high of $45.15.

Calix (NYSE:CALX) last posted its earnings results on Monday, October 28th. The communications equipment provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. Calix had a positive return on equity of 1.33% and a negative net margin of 1.79%. The company had revenue of $200.95 million for the quarter, compared to the consensus estimate of $201.06 million. During the same period in the previous year, the business earned $0.25 earnings per share. Calix’s quarterly revenue was down 23.8% compared to the same quarter last year. Sell-side analysts forecast that Calix, Inc. will post -0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CALX has been the subject of several recent research reports. Roth Mkm increased their price target on Calix from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Craig Hallum raised their target price on shares of Calix from $41.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. StockNews.com upgraded shares of Calix from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. Needham & Company LLC restated a “buy” rating and issued a $45.00 price objective on shares of Calix in a research report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. increased their target price on Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.