Credit Suisse AG lessened its stake in Calix, Inc (NYSE:CALX) by 17.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,828 shares of the communications equipment provider’s stock after selling 7,715 shares during the quarter. Credit Suisse AG owned approximately 0.07% of Calix worth $267,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in CALX. Algert Global LLC lifted its holdings in shares of Calix by 17.6% in the first quarter. Algert Global LLC now owns 39,874 shares of the communications equipment provider’s stock worth $289,000 after buying an additional 5,965 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Calix by 27.7% in the first quarter. Bank of New York Mellon Corp now owns 610,268 shares of the communications equipment provider’s stock worth $4,424,000 after buying an additional 132,305 shares in the last quarter. TFS Capital LLC purchased a new position in shares of Calix in the first quarter worth $634,000. Trexquant Investment LP purchased a new position in shares of Calix in the first quarter worth $134,000. Finally, American International Group Inc. lifted its holdings in shares of Calix by 7.1% in the first quarter. American International Group Inc. now owns 25,413 shares of the communications equipment provider’s stock worth $184,000 after buying an additional 1,676 shares in the last quarter. 64.47% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Calix, Inc (CALX) opened at 4.90 on Friday. Calix, Inc has a 12 month low of $4.65 and a 12 month high of $8.10. The company has a 50-day moving average of $5.25 and a 200 day moving average of $6.43. The company’s market cap is $246.50 million.
Calix (NYSE:CALX) last announced its quarterly earnings data on Tuesday, August 8th. The communications equipment provider reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.15). The firm had revenue of $126.12 million during the quarter, compared to analysts’ expectations of $123.70 million. Calix had a negative net margin of 12.72% and a negative return on equity of 30.33%. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.04) EPS. On average, analysts anticipate that Calix, Inc will post ($1.21) earnings per share for the current year.
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CALX has been the topic of several research analyst reports. Northland Securities set a $7.00 target price on shares of Calix and gave the stock a “hold” rating in a report on Monday, August 7th. ValuEngine raised shares of Calix from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Zacks Investment Research cut shares of Calix from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Finally, BidaskClub upgraded shares of Calix from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 12th. Four analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. Calix currently has an average rating of “Hold” and a consensus price target of $6.50.
Calix, Inc provides broadband communications access systems and software for fiber- and copper-based network architectures that enable communications service providers (CSPs), to transform their networks and connect to their residential and business subscribers. The Company enables CSPs to provide various services, from basic voice and data to advanced broadband services, over legacy and next-generation access networks.
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