Calix (NYSE:CALX) Stock Price Down 5.5% – What’s Next?

Calix, Inc. (NYSE:CALX)’s share price dropped 5.5% during trading on Tuesday . The stock traded as low as $37.17 and last traded at $37.30. Approximately 213,290 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 729,470 shares. The stock had previously closed at $39.47.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Craig Hallum lifted their price target on Calix from $41.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Roth Mkm upped their target price on Calix from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. raised their price target on Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. StockNews.com raised Calix from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. Finally, 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. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Calix has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Calix Price Performance

The stock’s 50 day moving average price is $37.49 and its two-hundred day moving average price is $35.24. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of -151.04 and a beta of 1.74.

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 company had revenue of $200.95 million during the quarter, compared to analysts’ expectations of $201.06 million. Calix had a net margin of 0.52% and a return on equity of 4.17%. The business’s quarterly revenue was down 23.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 earnings per share. As a group, equities research analysts anticipate that Calix, Inc. will post -0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Carl Russo sold 25,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $37.56, for a total value of $939,000.00. Following the completion of the sale, the director now directly owns 3,723,381 shares of the company’s stock, valued at approximately $139,850,190.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 17.04% of the company’s stock.

Institutional Trading of Calix

Several hedge funds and other institutional investors have recently bought and sold shares of CALX. Harbor Capital Advisors Inc. lifted its stake in shares of Calix by 15.0% in the third quarter. Harbor Capital Advisors Inc. now owns 11,390 shares of the communications equipment provider’s stock valued at $442,000 after buying an additional 1,483 shares during the period. Arcadia Investment Management Corp MI acquired a new position in Calix in the 3rd quarter valued at approximately $39,000. Farther Finance Advisors LLC lifted its position in shares of Calix by 42.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,763 shares of the communications equipment provider’s stock worth $68,000 after acquiring an additional 522 shares during the period. US Bancorp DE grew its holdings in shares of Calix by 399.3% during the 3rd quarter. US Bancorp DE now owns 5,672 shares of the communications equipment provider’s stock worth $220,000 after purchasing an additional 4,536 shares in the last quarter. Finally, Congress Asset Management Co. increased its position in shares of Calix by 30.1% during the third quarter. Congress Asset Management Co. now owns 1,565,471 shares of the communications equipment provider’s stock valued at $60,725,000 after purchasing an additional 361,805 shares during the period. 98.14% of the stock is currently owned by institutional investors and hedge funds.

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.