Torno Capital LLC Makes New $410,000 Investment in Calix, Inc. (NYSE:CALX)

Torno Capital LLC bought a new stake in Calix, Inc. (NYSE:CALX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 11,575 shares of the communications equipment provider’s stock, valued at approximately $410,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. TD Asset Management Inc boosted its stake in Calix by 516.6% in the fourth quarter. TD Asset Management Inc now owns 1,610,885 shares of the communications equipment provider’s stock valued at $70,380,000 after acquiring an additional 1,349,625 shares during the last quarter. Quantbot Technologies LP purchased a new position in Calix in the first quarter valued at approximately $1,145,000. Epoch Investment Partners Inc. grew its holdings in Calix by 23.3% during the first quarter. Epoch Investment Partners Inc. now owns 1,164,049 shares of the communications equipment provider’s stock valued at $38,600,000 after purchasing an additional 219,699 shares during the period. Congress Asset Management Co. MA increased its position in Calix by 9.6% in the fourth quarter. Congress Asset Management Co. MA now owns 875,687 shares of the communications equipment provider’s stock worth $38,259,000 after buying an additional 76,546 shares during the last quarter. Finally, FORA Capital LLC bought a new stake in shares of Calix in the first quarter valued at $724,000. 98.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $37.56, for a total value of $939,000.00. Following the transaction, the director now owns 3,723,381 shares in the company, valued at $139,850,190.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 16.69% of the stock is currently owned by insiders.

Analyst Ratings Changes

CALX has been the subject of several research reports. StockNews.com downgraded Calix from a “hold” rating to a “sell” rating in a research note on Wednesday, September 18th. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 target price on shares of Calix in a research note on Tuesday, September 10th. Roth Mkm boosted their price target on shares of Calix from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. raised their price objective on shares of Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Finally, Rosenblatt Securities boosted their target price on shares of Calix from $35.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. One 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. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $42.50.

Calix Price Performance

NYSE:CALX opened at $38.84 on Tuesday. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 125.29 and a beta of 1.74. The business has a 50 day moving average of $37.01 and a 200 day moving average of $34.28. Calix, Inc. has a 1-year low of $26.76 and a 1-year high of $47.15.

Calix (NYSE:CALX) last announced its quarterly earnings data on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $200.77 million. During the same period in the previous year, the business posted $0.15 EPS. The business’s quarterly revenue was down 24.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Calix, Inc. will post -0.36 EPS for the current year.

Calix Company Profile

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.