Corebridge Financial Inc. Sells 2,075 Shares of Calix, Inc. (NYSE:CALX)

Corebridge Financial Inc. lessened its holdings in Calix, Inc. (NYSE:CALX) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,660 shares of the communications equipment provider’s stock after selling 2,075 shares during the period. Corebridge Financial Inc.’s holdings in Calix were worth $1,104,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Calix by 5.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 129,608 shares of the communications equipment provider’s stock worth $5,027,000 after buying an additional 6,984 shares during the last quarter. HighTower Advisors LLC grew its position in Calix by 30.5% in the fourth quarter. HighTower Advisors LLC now owns 118,245 shares of the communications equipment provider’s stock worth $4,123,000 after acquiring an additional 27,622 shares in the last quarter. Amundi bought a new stake in Calix during the fourth quarter worth approximately $330,000. Principal Financial Group Inc. increased its stake in Calix by 3.8% during the fourth quarter. Principal Financial Group Inc. now owns 287,509 shares of the communications equipment provider’s stock worth $10,025,000 after acquiring an additional 10,393 shares during the last quarter. Finally, TradeLink Capital LLC purchased a new stake in Calix during the fourth quarter valued at approximately $299,000. Hedge funds and other institutional investors own 98.14% of the company’s stock.

Calix Trading Down 2.9 %

NYSE:CALX opened at $31.46 on Friday. The company has a market cap of $2.10 billion, a price-to-earnings ratio of -69.91 and a beta of 1.75. Calix, Inc. has a twelve month low of $26.76 and a twelve month high of $42.50. The stock has a fifty day simple moving average of $36.83 and a 200-day simple moving average of $36.23.

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

Insider Activity at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 2,164,188 shares in the company, valued at approximately $82,563,772.20. This represents a 1.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.69% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $45.00 price target on shares of Calix in a report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price objective on shares of Calix from $38.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.17.

Calix 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.