Calix (NYSE:CALX) Stock: Insider Carl Russo Sells 75,000 Shares

Calix, Inc (NYSE:CALX) Director Carl Russo sold 75,000 shares of the business’s stock in a transaction on Friday, November 6th. The stock was sold at an average price of $31.07, for a total transaction of $2,330,250.00. Following the transaction, the director directly owned 1,494,188 shares of the company’s stock, valued at approximately $46,424,421.16. This represents a 4.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Calix Stock Performance

NYSE CALX opened at $32.21 on Wednesday. The stock has a 50-day simple moving average of $35.37 and a 200 day simple moving average of $41.83. Calix, Inc has a twelve month low of $30.55 and a twelve month high of $64.33. The stock has a market capitalization of $1.99 billion, a PE ratio of 47.37 and a beta of 1.21.

Calix (NYSE:CALX) last issued its quarterly earnings results on Monday, November 2nd. The communications equipment provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. Calix had a return on equity of 5.67% and a net margin of 3.99%. The company had revenue of $301.71 million during the quarter, compared to analyst estimates of $304.23 million. During the same period in the previous year, the company earned $0.44 earnings per share. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. As a group, equities research analysts forecast that Calix, Inc will post 0.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CALX shares. Wall Street Zen downgraded Calix from a “strong-buy” rating to a “buy” rating in a report on Sunday. Rosenblatt Securities reiterated a “buy” rating and issued a $55.00 price target on shares of Calix in a research report on Wednesday, November 4th. Zacks Research upgraded shares of Calix from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. Weiss Ratings lowered shares of Calix from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, October 26th. Finally, Northland Securities upgraded shares of Calix from a “market perform” rating to an “outperform” rating and set a $52.00 target price for the company in a research report on Tuesday, July 21st. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.80.

Hedge Funds Weigh In On Calix

A number of large investors have recently bought and sold shares of the company. Landscape Capital Management L.L.C. acquired a new position in shares of Calix during the 3rd quarter worth about $259,000. First Eagle Investment Management LLC bought a new position in Calix in the third quarter valued at approximately $5,326,000. Diversified Trust Co grew its stake in Calix by 34.4% in the third quarter. Diversified Trust Co now owns 15,857 shares of the communications equipment provider’s stock valued at $545,000 after purchasing an additional 4,056 shares in the last quarter. Maryland State Retirement & Pension System raised its stake in shares of Calix by 48.6% during the 3rd quarter. Maryland State Retirement & Pension System now owns 12,693 shares of the communications equipment provider’s stock worth $436,000 after purchasing an additional 4,151 shares in the last quarter. Finally, Fulcrum Asset Management LLP raised its stake in shares of Calix by 4,381.9% during the 3rd quarter. Fulcrum Asset Management LLP now owns 6,454 shares of the communications equipment provider’s stock worth $216,000 after purchasing an additional 6,310 shares in the last quarter. Institutional investors and hedge funds own 98.14% of the company’s stock.

About Calix

Calix, Inc. provides cloud, software, systems and services to broadband service providers. Its offerings are designed to help providers build and manage access networks, improve operations and deliver broadband services and digital experiences to residential and business subscribers. The company’s portfolio includes the Calix Broadband Platform, which brings together network access systems, software and cloud-based applications. Products and services support network management, subscriber experience and the delivery of services such as broadband connectivity and managed Wi-Fi.