MetLife Investment Management LLC Sells 678 Shares of Calix, Inc. (NYSE:CALX)

MetLife Investment Management LLC lowered its position in Calix, Inc. (NYSE:CALX) by 2.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 33,661 shares of the communications equipment provider’s stock after selling 678 shares during the period. MetLife Investment Management LLC’s holdings in Calix were worth $1,306,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC raised its position 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 purchasing an additional 436 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Calix during the third quarter valued at about $34,000. Arcadia Investment Management Corp MI purchased a new stake in Calix during the third quarter valued at about $39,000. Avior Wealth Management LLC raised its position in Calix by 998.1% during the third quarter. Avior Wealth Management LLC now owns 1,186 shares of the communications equipment provider’s stock valued at $46,000 after purchasing an additional 1,078 shares in the last quarter. Finally, Hexagon Capital Partners LLC raised its position in Calix by 29.8% during the third quarter. Hexagon Capital Partners LLC now owns 1,385 shares of the communications equipment provider’s stock valued at $54,000 after purchasing an additional 318 shares in the last quarter. Institutional investors own 98.14% of the company’s stock.

Calix Trading Up 4.0 %

CALX opened at $34.07 on Friday. The company has a market cap of $2.26 billion, a P/E ratio of -141.94 and a beta of 1.70. The business’s 50-day moving average price is $35.24 and its 200-day moving average price is $35.81. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.04. The company had revenue of $200.95 million for the quarter, compared to analysts’ expectations of $201.06 million. Calix had a positive return on equity of 1.33% and a negative net margin of 1.79%. Calix’s quarterly revenue was down 23.8% on a year-over-year basis. During the same period last year, the firm earned $0.25 earnings per share. Equities research analysts forecast that Calix, Inc. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CALX shares. Rosenblatt Securities restated a “buy” rating and set a $45.00 price target on shares of Calix in a research report on Thursday, October 3rd. Needham & Company LLC restated a “buy” rating and set a $45.00 price target on shares of Calix in a research report on Tuesday, October 29th. Finally, StockNews.com upgraded Calix from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. 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, Calix presently has a consensus rating of “Moderate Buy” and an average price target of $42.50.

Calix Company 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.