Morling Financial Advisors LLC Acquires Shares of 21,160 Calix, Inc (NYSE:CALX)

Morling Financial Advisors LLC acquired a new stake in Calix, Inc (NYSE:CALX) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 21,160 shares of the communications equipment provider’s stock, valued at approximately $750,000.

Other large investors also recently bought and sold shares of the company. Millennium Management LLC grew its position in shares of Calix by 77.8% during the fourth quarter. Millennium Management LLC now owns 2,031,212 shares of the communications equipment provider’s stock worth $70,828,000 after buying an additional 889,102 shares in the last quarter. Vanguard Group Inc. lifted its stake in Calix by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 7,977,769 shares of the communications equipment provider’s stock worth $278,185,000 after purchasing an additional 412,982 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in Calix by 711.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 436,036 shares of the communications equipment provider’s stock worth $15,205,000 after purchasing an additional 382,301 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Calix by 105.7% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 708,723 shares of the communications equipment provider’s stock worth $24,713,000 after purchasing an additional 364,209 shares during the last quarter. Finally, Norges Bank bought a new position in Calix during the fourth quarter worth $11,518,000. Institutional investors and hedge funds own 98.14% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CALX. JPMorgan Chase & Co. raised their price objective on Calix from $38.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. UBS Group reiterated a “buy” rating on shares of Calix in a research note on Tuesday, April 22nd. Needham & Company LLC raised their target price on Calix from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday. Roth Capital set a $50.00 target price on Calix and gave the company a “buy” rating in a research note on Tuesday, April 22nd. Finally, Rosenblatt Securities raised their target price on Calix from $56.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.40.

Calix Trading Down 0.2%

NYSE:CALX traded down $0.12 during mid-day trading on Thursday, reaching $55.89. 192,720 shares of the stock were exchanged, compared to its average volume of 770,353. The business has a fifty day moving average price of $49.16 and a 200 day moving average price of $41.38. The firm has a market capitalization of $3.62 billion, a PE ratio of -139.55 and a beta of 1.37. Calix, Inc has a 1-year low of $28.60 and a 1-year high of $57.90.

Calix (NYSE:CALX) last released its earnings results on Monday, July 21st. The communications equipment provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.41. The firm had revenue of $241.90 million for the quarter, compared to analyst estimates of $223.81 million. Calix had a negative return on equity of 3.21% and a negative net margin of 3.09%. Calix’s revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 earnings per share. On average, sell-side analysts forecast that Calix, Inc will post -0.43 earnings per share for the current year.

Calix announced that its Board of Directors has initiated a stock buyback plan on Monday, April 21st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the communications equipment provider to repurchase up to 4.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Calix

In related news, CFO Cory Sindelar sold 10,000 shares of Calix stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $52.00, for a total transaction of $520,000.00. Following the transaction, the chief financial officer directly owned 76,285 shares of the company’s stock, valued at $3,966,820. The trade was a 11.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carl Russo sold 25,000 shares of Calix stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $39.59, for a total value of $989,750.00. Following the completion of the transaction, the director directly owned 2,139,188 shares in the company, valued at $84,690,452.92. This represents a 1.16% decrease in their position. The disclosure for this sale can be found here. 16.90% of the stock is owned by insiders.

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.