Verition Fund Management LLC Invests $656,000 in Calix, Inc. (NYSE:CALX)

Verition Fund Management LLC bought a new position in shares of Calix, Inc. (NYSE:CALXGet Rating) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 15,294 shares of the communications equipment provider’s stock, valued at approximately $656,000.

Several other institutional investors and hedge funds have also made changes to their positions in CALX. BlackRock Inc. lifted its position in shares of Calix by 45.9% during the first quarter. BlackRock Inc. now owns 7,446,078 shares of the communications equipment provider’s stock worth $319,511,000 after purchasing an additional 2,340,968 shares during the last quarter. Millennium Management LLC increased its stake in shares of Calix by 3,742.9% during the fourth quarter. Millennium Management LLC now owns 1,502,834 shares of the communications equipment provider’s stock valued at $120,182,000 after buying an additional 1,463,727 shares during the period. Vanguard Group Inc. increased its stake in shares of Calix by 35.2% during the first quarter. Vanguard Group Inc. now owns 5,586,440 shares of the communications equipment provider’s stock valued at $239,713,000 after buying an additional 1,453,368 shares during the period. Invesco Ltd. increased its stake in shares of Calix by 669.9% during the fourth quarter. Invesco Ltd. now owns 1,231,944 shares of the communications equipment provider’s stock valued at $98,517,000 after buying an additional 1,071,936 shares during the period. Finally, State Street Corp increased its stake in shares of Calix by 58.5% during the first quarter. State Street Corp now owns 1,732,618 shares of the communications equipment provider’s stock valued at $74,347,000 after buying an additional 639,780 shares during the period. 81.28% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Donald J. Listwin sold 35,000 shares of Calix stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $58.20, for a total transaction of $2,037,000.00. Following the completion of the sale, the director now owns 700,000 shares of the company’s stock, valued at $40,740,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Donald J. Listwin sold 35,000 shares of Calix stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $58.20, for a total transaction of $2,037,000.00. Following the completion of the sale, the director now owns 700,000 shares of the company’s stock, valued at $40,740,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Matthews sold 6,000 shares of Calix stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $55.70, for a total value of $334,200.00. Following the sale, the director now directly owns 66,000 shares of the company’s stock, valued at approximately $3,676,200. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,000 shares of company stock valued at $4,394,050. 16.64% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Rosenblatt Securities raised their price target on Calix from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, July 27th. Craig Hallum raised their price target on Calix from $62.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. Northland Securities raised their price target on Calix from $55.00 to $65.00 in a research note on Tuesday, September 6th. Westpark Capital initiated coverage on Calix in a research note on Tuesday, September 13th. They set a “buy” rating on the stock. Finally, TheStreet upgraded Calix from a “c+” rating to a “b” rating in a research note on Wednesday, August 3rd. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Calix currently has an average rating of “Moderate Buy” and an average target price of $66.90.

Calix Stock Performance

Shares of NYSE CALX opened at $59.18 on Friday. The company has a market cap of $3.86 billion, a PE ratio of 18.91, a P/E/G ratio of 10.13 and a beta of 1.79. The business has a 50-day simple moving average of $55.57 and a two-hundred day simple moving average of $44.51. Calix, Inc. has a fifty-two week low of $31.59 and a fifty-two week high of $80.95.

Calix (NYSE:CALXGet Rating) last issued its quarterly earnings results on Monday, July 25th. The communications equipment provider reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.03. The business had revenue of $202.04 million during the quarter, compared to the consensus estimate of $196.02 million. Calix had a return on equity of 8.02% and a net margin of 28.95%. The company’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter last year, the company earned $0.31 earnings per share. On average, sell-side analysts predict that Calix, Inc. will post 0.29 earnings per share for the current fiscal year.

About Calix

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Calix, Inc, together with its subsidiaries, provides cloud and software platforms, and systems and services in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company's cloud and software platforms, and systems and services enable broadband service providers (BSPs) to provide a range of services.

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Institutional Ownership by Quarter for Calix (NYSE:CALX)

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