Creative Planning Reduces Stake in Calix, Inc. (NYSE:CALX)

Creative Planning lessened its stake in shares of Calix, Inc. (NYSE:CALX) by 5.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 13,654 shares of the communications equipment provider’s stock after selling 828 shares during the period. Creative Planning’s holdings in Calix were worth $530,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Louisiana State Employees Retirement System grew its position in shares of Calix by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 29,300 shares of the communications equipment provider’s stock valued at $1,038,000 after purchasing an additional 300 shares during the period. Portside Wealth Group LLC lifted its stake in shares of Calix by 4.4% in the second quarter. Portside Wealth Group LLC now owns 7,214 shares of the communications equipment provider’s stock worth $256,000 after acquiring an additional 301 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Calix by 13.7% in the second quarter. Nisa Investment Advisors LLC now owns 2,520 shares of the communications equipment provider’s stock worth $89,000 after acquiring an additional 303 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of Calix by 29.8% in the third quarter. Hexagon Capital Partners LLC now owns 1,385 shares of the communications equipment provider’s stock worth $54,000 after acquiring an additional 318 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Calix by 187.9% during the third quarter. GAMMA Investing LLC now owns 668 shares of the communications equipment provider’s stock valued at $26,000 after buying an additional 436 shares in the last quarter. Institutional investors and hedge funds own 98.14% of the company’s stock.

Calix Stock Up 2.5 %

CALX opened at $36.02 on Wednesday. The stock has a fifty day moving average of $37.38 and a 200-day moving average of $35.40. The firm has a market capitalization of $2.39 billion, a P/E ratio of -150.08 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 quarterly earnings results on Monday, October 28th. The communications equipment provider reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. Calix had a negative net margin of 1.79% and a positive return on equity of 1.33%. The business had revenue of $200.95 million for the quarter, compared to the consensus estimate of $201.06 million. During the same period in the prior year, the business posted $0.25 earnings per share. Calix’s revenue for the quarter was down 23.8% compared to the same quarter last year. On average, analysts expect that Calix, Inc. will post -0.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on CALX shares. StockNews.com upgraded Calix from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. Rosenblatt Securities reissued a “buy” rating and issued a $45.00 price objective on shares of Calix in a report on Thursday, October 3rd. Craig Hallum increased their price objective on Calix from $41.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Roth Mkm increased their price target on Calix from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. increased their price objective on Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. 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.com, Calix presently has an average rating of “Moderate Buy” and a consensus 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.