Calix, Inc $CALX Position Raised by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in Calix, Inc (NYSE:CALX) by 72.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 75,983 shares of the communications equipment provider’s stock after purchasing an additional 32,000 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Calix were worth $2,611,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CALX. Harbor Investment Advisory LLC acquired a new position in Calix during the 2nd quarter valued at about $31,000. Pinnacle Wealth Planning Services Inc. raised its stake in shares of Calix by 254.0% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 878 shares of the communications equipment provider’s stock worth $30,000 after buying an additional 630 shares in the last quarter. OV Management LLC bought a new stake in Calix in the second quarter worth about $62,000. Sterling Capital Management LLC grew its stake in shares of Calix by 827.9% in the 3rd quarter. Sterling Capital Management LLC now owns 1,930 shares of the communications equipment provider’s stock worth $66,000 after purchasing an additional 1,722 shares during the last quarter. Finally, Assetmark Inc. grew its stake in shares of Calix by 4,313.8% in the 1st quarter. Assetmark Inc. now owns 2,560 shares of the communications equipment provider’s stock worth $125,000 after purchasing an additional 2,502 shares during the last quarter. 98.14% of the stock is currently owned by institutional investors.

Calix Stock Down 2.0%

Shares of CALX opened at $36.08 on Tuesday. The company’s fifty day moving average is $36.12 and its 200-day moving average is $42.57. Calix, Inc has a 12 month low of $32.35 and a 12 month high of $69.73. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 48.76 and a beta of 1.32.

Calix (NYSE:CALX) last announced its quarterly earnings results on Monday, November 2nd. The communications equipment provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. Calix had a return on equity of 6.17% and a net margin of 4.61%. The company had revenue of $301.71 million for the quarter, compared to the consensus estimate of $304.23 million. During the same quarter last year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. As a group, research analysts predict that Calix, Inc will post 0.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CALX. JPMorgan Chase & Co. reduced their target price on shares of Calix from $65.00 to $58.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Wall Street Zen raised Calix from a “buy” rating to a “strong-buy” rating in a report on Saturday. Zacks Research upgraded Calix from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Roth Capital reissued a “buy” rating on shares of Calix in a research note on Tuesday, July 21st. Finally, Northland Securities raised Calix from a “market perform” rating to an “outperform” rating and set a $52.00 price objective for the company in a research note on Tuesday, July 21st. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $57.40.

Calix Profile

Calix, Inc provides cloud, software and broadband access solutions to communications service providers. Its technology helps broadband operators deploy, manage and monetize high-speed internet and related services for residential and business customers.

The company’s offerings include broadband access systems, subscriber premise equipment, cloud-based software and analytics, and managed services. Its portfolio supports fiber, fixed wireless and other broadband networks, while enabling providers to deliver services such as Wi-Fi management, network security, connected home applications and business connectivity.

Founded in 1999 and headquartered in San Jose, California, Calix serves broadband service providers primarily in North America, with customers and operations in other international markets.