Artemis Investment Management LLP Has $9.60 Million Stock Holdings in Calix, Inc. (NYSE:CALX)

Artemis Investment Management LLP decreased its holdings in Calix, Inc. (NYSE:CALX) by 25.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 270,877 shares of the communications equipment provider’s stock after selling 90,996 shares during the quarter. Artemis Investment Management LLP owned 0.41% of Calix worth $9,597,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CALX. Headlands Technologies LLC acquired a new stake in Calix in the 1st quarter worth about $48,000. TFO Wealth Partners LLC raised its stake in Calix by 13,787.5% in the 4th quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock worth $49,000 after purchasing an additional 1,103 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Calix by 18.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,232 shares of the communications equipment provider’s stock worth $98,000 after purchasing an additional 348 shares in the last quarter. Assetmark Inc. raised its stake in Calix by 41.5% in the 4th quarter. Assetmark Inc. now owns 2,233 shares of the communications equipment provider’s stock worth $98,000 after purchasing an additional 655 shares in the last quarter. Finally, EntryPoint Capital LLC raised its stake in Calix by 8,924.4% in the 1st quarter. EntryPoint Capital LLC now owns 3,700 shares of the communications equipment provider’s stock worth $123,000 after purchasing an additional 3,659 shares in the last quarter. Institutional investors and hedge funds own 98.14% of the company’s stock.

Calix Stock Performance

Shares of Calix stock traded down $0.98 during midday trading on Monday, hitting $36.61. 72,948 shares of the company traded hands, compared to its average volume of 836,012. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 121.26 and a beta of 1.76. The firm’s fifty day moving average price is $35.92 and its 200-day moving average price is $33.99. Calix, Inc. has a 12 month low of $26.76 and a 12 month high of $48.53.

Calix (NYSE:CALX) last announced its quarterly 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. The company had revenue of $198.14 million for the quarter, compared to analyst estimates of $200.77 million. Calix had a net margin of 0.52% and a return on equity of 4.17%. The firm’s revenue was down 24.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 EPS. Equities research analysts forecast that Calix, Inc. will post -0.36 earnings per share for the current year.

Insiders Place Their Bets

In other Calix news, Director Carl Russo sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $37.56, for a total value of $939,000.00. Following the completion of the transaction, the director now directly owns 3,723,381 shares in the company, valued at approximately $139,850,190.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 16.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CALX shares. Jefferies Financial Group cut shares of Calix from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $48.00 to $30.00 in a research note on Thursday, April 25th. Rosenblatt Securities raised 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. Craig Hallum raised their target price on shares of Calix from $41.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Needham & Company LLC reissued a “buy” rating and issued a $45.00 target price on shares of Calix in a report on Tuesday, July 23rd. Finally, Roth Mkm raised their target price on shares of Calix from $43.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” 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.