Trigran Investments Inc. Sells 20,665 Shares of Calix, Inc. (NYSE:CALX)

by · The Markets Daily

Trigran Investments Inc. cut its stake in shares of Calix, Inc. (NYSE:CALX – Free Report) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 721,648 shares of the communications equipment provider’s stock after selling 20,665 shares during the period. Calix makes up approximately 2.9% of Trigran Investments Inc.’s investment portfolio, making the stock its 15th largest holding. Trigran Investments Inc. owned about 1.09% of Calix worth $25,164,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Pacer Advisors Inc. increased its stake in shares of Calix by 29.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider’s stock valued at $54,000 after acquiring an additional 358 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in Calix by 8.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,224 shares of the communications equipment provider’s stock worth $217,000 after purchasing an additional 465 shares during the period. Atria Investments Inc boosted its position in shares of Calix by 7.1% during the fourth quarter. Atria Investments Inc now owns 7,120 shares of the communications equipment provider’s stock worth $248,000 after purchasing an additional 469 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Calix by 367.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider’s stock valued at $28,000 after buying an additional 640 shares during the period. Finally, FMR LLC increased its position in shares of Calix by 49.0% in the 3rd quarter. FMR LLC now owns 2,398 shares of the communications equipment provider’s stock valued at $93,000 after buying an additional 789 shares in the last quarter. Institutional investors own 98.14% of the company’s stock.

Analysts Set New Price Targets

CALX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their target price on Calix from $45.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price objective on shares of Calix in a research report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.33.

View Our Latest Report on Calix

Calix Price Performance

Shares of NYSE:CALX opened at $33.80 on Friday. The company’s 50-day moving average price is $35.25 and its two-hundred day moving average price is $35.81. The stock has a market capitalization of $2.25 billion, a PE ratio of -75.12 and a beta of 1.75. Calix, Inc. has a one year low of $26.76 and a one year high of $42.50.

Calix (NYSE:CALX – Get Free Report) last issued its earnings results 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 return on equity of 3.43% and a negative net margin of 3.58%. On average, analysts anticipate that Calix, Inc. will post -0.43 earnings per share for the current fiscal year.

Insider Activity at Calix

In related news, Director Carl Russo sold 25,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $38.15, for a total value of $953,750.00. Following the transaction, the director now 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 is accessible through the SEC website. 16.90% of the stock is owned by company insiders.

Calix Company Profile

(Free Report)

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.

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