Calix (NYSE:CALX) Trading Up 6.1% - Here's What Happened

Calix, Inc. (NYSE:CALX - Get Free Report) shares were up 6.1% during trading on Tuesday . The stock traded as high as $31.19 and last traded at $31.18. Approximately 531,563 shares traded hands during mid-day trading, a decline of 22% from the average daily volume of 678,492 shares. The stock had previously closed at $29.40.

Analysts Set New Price Targets

Several analysts have weighed in on CALX shares. Needham & Company LLC reaffirmed a "buy" rating and set a $45.00 target price on shares of Calix in a research note on Thursday, January 30th. JPMorgan Chase & Co. lifted their price objective on shares of Calix from $38.00 to $45.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Calix has a consensus rating of "Moderate Buy" and an average price target of $43.17.

Calix Price Performance

The company has a fifty day moving average price of $37.84 and a two-hundred day moving average price of $36.48. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of -70.03 and a beta of 1.78.

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Calix (NYSE:CALX - Get Free Report) last released its earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.31). Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. On average, research analysts expect that Calix, Inc. will post -0.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Carl Russo sold 25,000 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $38.15, for a total value of $953,750.00. Following the completion of the sale, the director now owns 2,164,188 shares of the company's stock, valued at $82,563,772.20. This trade represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 16.69% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CALX. Smartleaf Asset Management LLC grew its stake in Calix by 367.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider's stock valued at $28,000 after acquiring an additional 640 shares in the last quarter. Avior Wealth Management LLC grew 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. Pacer Advisors Inc. increased its stake in 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 buying an additional 358 shares during the period. Farther Finance Advisors LLC increased its stake in Calix by 42.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,763 shares of the communications equipment provider's stock valued at $68,000 after buying an additional 522 shares during the period. Finally, Truvestments Capital LLC purchased a new stake in Calix in the 3rd quarter worth approximately $76,000. 98.14% of the stock is owned by institutional investors and hedge funds.

About Calix

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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