Franklin Resources Inc. Lowers Holdings in Calix, Inc. (NYSE:CALX)

Franklin Resources Inc. lowered its stake in shares of Calix, Inc. (NYSE:CALX) by 8.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,343 shares of the communications equipment provider’s stock after selling 1,195 shares during the quarter. Franklin Resources Inc.’s holdings in Calix were worth $510,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC increased its holdings in Calix by 187.9% during the 3rd quarter. GAMMA Investing LLC now owns 668 shares of the communications equipment provider’s stock worth $26,000 after purchasing an additional 436 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in Calix in the third quarter valued at approximately $34,000. Arcadia Investment Management Corp MI purchased a new position in Calix in the third quarter worth approximately $39,000. Avior Wealth Management LLC grew its holdings in Calix by 998.1% during the 3rd quarter. Avior Wealth Management LLC now owns 1,186 shares of the communications equipment provider’s stock worth $46,000 after acquiring an additional 1,078 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its position in shares of Calix by 29.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,385 shares of the communications equipment provider’s stock valued at $54,000 after purchasing an additional 318 shares during the last quarter. 98.14% of the stock is currently owned by institutional investors and hedge funds.

Calix Trading Down 0.2 %

Shares of NYSE CALX opened at $34.89 on Tuesday. The stock has a market cap of $2.31 billion, a P/E ratio of -145.38 and a beta of 1.70. The stock has a 50 day moving average of $34.36 and a two-hundred day moving average of $35.90. Calix, Inc. has a twelve month low of $26.76 and a twelve month high of $45.15.

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

Wall Street Analyst Weigh In

CALX has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price objective on shares of Calix in a research report on Tuesday, October 29th. Rosenblatt Securities reaffirmed a “buy” rating and set a $45.00 price objective on shares of Calix in a research report on Thursday, October 3rd. Finally, StockNews.com raised Calix from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.50.

Calix 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.