Inspire Investing LLC Sells 878 Shares of Calix, Inc. (NYSE:CALX)

Inspire Investing LLC lowered its position in Calix, Inc. (NYSE:CALX) by 8.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,862 shares of the communications equipment provider’s stock after selling 878 shares during the period. Inspire Investing LLC’s holdings in Calix were worth $349,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Connors Investor Services Inc. boosted its holdings in Calix by 44.8% in the 2nd quarter. Connors Investor Services Inc. now owns 84,790 shares of the communications equipment provider’s stock worth $3,004,000 after buying an additional 26,248 shares during the period. Edgestream Partners L.P. boosted its holdings in Calix by 14.5% in the 2nd quarter. Edgestream Partners L.P. now owns 191,252 shares of the communications equipment provider’s stock worth $6,776,000 after buying an additional 24,257 shares during the period. Renaissance Technologies LLC boosted its holdings in Calix by 143.7% in the 2nd quarter. Renaissance Technologies LLC now owns 78,518 shares of the communications equipment provider’s stock worth $2,782,000 after buying an additional 46,300 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Calix by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,793,545 shares of the communications equipment provider’s stock valued at $63,546,000 after purchasing an additional 45,656 shares during the last quarter. Finally, WINTON GROUP Ltd boosted its holdings in shares of Calix by 2.8% during the 2nd quarter. WINTON GROUP Ltd now owns 26,942 shares of the communications equipment provider’s stock valued at $955,000 after purchasing an additional 733 shares during the last quarter. Institutional investors own 98.14% of the company’s stock.

Calix Trading Down 0.7 %

Shares of NYSE CALX opened at $38.84 on Tuesday. The firm’s 50-day moving average price is $37.01 and its 200-day moving average price is $34.28. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 125.29 and a beta of 1.74. Calix, Inc. has a 12-month low of $26.76 and a 12-month high of $47.15.

Calix (NYSE:CALX) last announced its earnings results on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.03. Calix had a net margin of 0.52% and a return on equity of 4.17%. The firm had revenue of $198.14 million for the quarter, compared to analysts’ expectations of $200.77 million. During the same period in the prior year, the company earned $0.15 EPS. The business’s revenue was down 24.1% compared to the same quarter last year. On average, equities analysts predict that Calix, Inc. will post -0.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Carl Russo sold 25,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $37.56, for a total value of $939,000.00. Following the sale, the director now directly owns 3,723,381 shares of the company’s stock, valued at approximately $139,850,190.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 16.69% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on CALX shares. Needham & Company LLC reissued a “buy” rating and set a $45.00 price objective on shares of Calix in a report on Tuesday, September 10th. Roth Mkm increased their price objective on shares of Calix from $43.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. increased their price objective on shares of Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Craig Hallum increased their price objective on shares of Calix from $41.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, StockNews.com downgraded shares of Calix from a “hold” rating to a “sell” rating in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $42.50.

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.