CAPROCK Group Inc. Invests $266,000 in Calix, Inc. (NYSE:CALX)

CAPROCK Group Inc. purchased a new stake in shares of Calix, Inc. (NYSE:CALX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,600 shares of the communications equipment provider’s stock, valued at approximately $266,000.

Other hedge funds have also recently bought and sold shares of the company. Teacher Retirement System of Texas raised its position in shares of Calix by 18.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 6,882 shares of the communications equipment provider’s stock valued at $327,000 after acquiring an additional 1,089 shares in the last quarter. Bank of New York Mellon Corp increased its position in Calix by 80.7% in the second quarter. Bank of New York Mellon Corp now owns 1,728,173 shares of the communications equipment provider’s stock worth $82,089,000 after buying an additional 771,657 shares during the period. Algert Global LLC acquired a new stake in Calix in the first quarter worth $443,000. Navellier & Associates Inc increased its position in Calix by 26.4% in the second quarter. Navellier & Associates Inc now owns 46,836 shares of the communications equipment provider’s stock worth $2,225,000 after buying an additional 9,773 shares during the period. Finally, UBS Asset Management Americas Inc. increased its position in Calix by 5.8% in the first quarter. UBS Asset Management Americas Inc. now owns 42,213 shares of the communications equipment provider’s stock worth $1,463,000 after buying an additional 2,312 shares during the period. 77.93% of the stock is currently owned by institutional investors and hedge funds.

NYSE:CALX opened at $57.77 on Thursday. Calix, Inc. has a 1-year low of $19.62 and a 1-year high of $58.30. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 44.44, a price-to-earnings-growth ratio of 2.45 and a beta of 1.53. The stock has a fifty day simple moving average of $48.18 and a 200 day simple moving average of $45.36.

Calix (NYSE:CALX) last released its quarterly earnings results on Monday, July 26th. The communications equipment provider reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.10. Calix had a return on equity of 30.06% and a net margin of 13.16%. The business had revenue of $168.67 million during the quarter, compared to analyst estimates of $160.00 million. On average, analysts anticipate that Calix, Inc. will post 0.93 EPS for the current year.

CALX has been the topic of several analyst reports. Northland Securities increased their target price on Calix from $35.00 to $45.00 and gave the stock a “market perform” rating in a research report on Monday, October 4th. They noted that the move was a valuation call. Zacks Investment Research lowered Calix from a “buy” rating to a “hold” rating in a report on Monday, August 2nd. Jefferies Financial Group raised their price target on Calix from $52.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 target price (up previously from $50.00) on shares of Calix in a research note on Tuesday, July 27th. Finally, Barrington Research began coverage on Calix in a research note on Friday, July 23rd. They set an “outperform” rating and a $58.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Calix has a consensus rating of “Hold” and a consensus price target of $45.88.

In other Calix news, EVP Shane Todd Marshall Eleniak sold 26,000 shares of the business’s stock in a transaction that occurred on Thursday, September 30th. The shares were sold at an average price of $48.50, for a total value of $1,261,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J Daniel Plants sold 1,290 shares of the business’s stock in a transaction that occurred on Wednesday, August 4th. The stock was sold at an average price of $45.97, for a total transaction of $59,301.30. Following the completion of the sale, the director now directly owns 61,211 shares of the company’s stock, valued at $2,813,869.67. The disclosure for this sale can be found here. Insiders sold 67,290 shares of company stock worth $3,136,701 in the last 90 days. 16.64% of the stock is currently owned by corporate insiders.

Calix Company Profile

Calix, Inc provides cloud and software platforms, systems and services required to realize the unified access network. The firm offers broadband communications access systems and software for fiber and copper-based network architectures that enable communications service providers to transform their networks and connect to their residential and business subscribers.

Further Reading: Earnings Reports

Institutional Ownership by Quarter for Calix (NYSE:CALX)

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