Advisors Asset Management Inc. Lowers Stake in Calix, Inc. (NYSE:CALX)

Advisors Asset Management Inc. cut its holdings in shares of Calix, Inc. (NYSE:CALX) by 35.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 676 shares of the communications equipment provider’s stock after selling 368 shares during the period. Advisors Asset Management Inc.’s holdings in Calix were worth $26,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CALX. Price T Rowe Associates Inc. MD raised its stake in shares of Calix by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 35,624 shares of the communications equipment provider’s stock worth $1,182,000 after buying an additional 2,097 shares during the period. Thompson Investment Management Inc. lifted its holdings in Calix by 68.6% during the second quarter. Thompson Investment Management Inc. now owns 94,325 shares of the communications equipment provider’s stock valued at $3,342,000 after purchasing an additional 38,375 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Calix by 123.2% in the second quarter. SG Americas Securities LLC now owns 7,943 shares of the communications equipment provider’s stock valued at $281,000 after purchasing an additional 4,384 shares during the period. LVW Advisors LLC acquired a new position in shares of Calix during the 2nd quarter worth about $208,000. Finally, Diversified Trust Co lifted its stake in Calix by 11.4% in the 2nd quarter. Diversified Trust Co now owns 10,033 shares of the communications equipment provider’s stock valued at $355,000 after buying an additional 1,026 shares in the last quarter. Hedge funds and other institutional investors own 98.14% of the company’s stock.

Calix Trading Up 1.2 %

Shares of NYSE:CALX opened at $32.53 on Friday. The business has a 50-day moving average price of $35.78 and a 200 day moving average price of $35.74. Calix, Inc. has a 12-month low of $26.76 and a 12-month high of $45.15. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of -135.54 and a beta of 1.75.

Calix (NYSE:CALX) last released its quarterly earnings results on Monday, October 28th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. The business had revenue of $200.95 million for the quarter, compared to the consensus estimate of $201.06 million. Calix had a negative net margin of 1.79% and a positive return on equity of 1.33%. The business’s revenue was down 23.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. As a group, equities research analysts predict that Calix, Inc. will post -0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. StockNews.com upgraded Calix from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $45.00 price objective on shares of Calix in a research note on Thursday, October 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price target on shares of Calix in a report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

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.