Truist Financial Corp trimmed its holdings in Calix, Inc. (NYSE:CALX – Get Rating) by 10.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,648 shares of the communications equipment provider’s stock after selling 1,198 shares during the quarter. Truist Financial Corp’s holdings in Calix were worth $651,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Captrust Financial Advisors raised its stake in shares of Calix by 31.7% during the 2nd quarter. Captrust Financial Advisors now owns 847 shares of the communications equipment provider’s stock worth $29,000 after buying an additional 204 shares during the period. Wipfli Financial Advisors LLC acquired a new position in shares of Calix during the 3rd quarter worth about $31,000. PNC Financial Services Group Inc. lifted its stake in Calix by 865.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,390 shares of the communications equipment provider’s stock valued at $59,000 after buying an additional 1,246 shares in the last quarter. Dark Forest Capital Management LP raised its holdings in shares of Calix by 43.4% during the second quarter. Dark Forest Capital Management LP now owns 1,916 shares of the communications equipment provider’s stock valued at $65,000 after acquiring an additional 580 shares during the last quarter. Finally, Point72 Hong Kong Ltd lifted its position in shares of Calix by 34.7% in the first quarter. Point72 Hong Kong Ltd now owns 1,866 shares of the communications equipment provider’s stock valued at $80,000 after acquiring an additional 481 shares in the last quarter. Hedge funds and other institutional investors own 81.90% of the company’s stock.
Insiders Place Their Bets
In other news, EVP John Matthew Collins sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $70.65, for a total value of $353,250.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP John Matthew Collins sold 5,000 shares of the stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $70.65, for a total value of $353,250.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kathleen M. Crusco sold 24,176 shares of the firm’s stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $73.21, for a total transaction of $1,769,924.96. Following the sale, the director now directly owns 54,705 shares in the company, valued at $4,004,953.05. The disclosure for this sale can be found here. Insiders have sold a total of 32,176 shares of company stock valued at $2,346,735 over the last quarter. Company insiders own 16.64% of the company’s stock.
Calix Price Performance
Calix (NYSE:CALX – Get Rating) last posted its earnings results on Monday, October 24th. The communications equipment provider reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.08. The firm had revenue of $236.33 million during the quarter, compared to analysts’ expectations of $215.25 million. Calix had a return on equity of 6.91% and a net margin of 6.12%. The firm’s revenue was up 37.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 earnings per share. Equities research analysts anticipate that Calix, Inc. will post 0.44 earnings per share for the current year.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the stock. Needham & Company LLC lifted their target price on shares of Calix from $82.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, December 22nd. Northland Securities lifted their price objective on Calix from $80.00 to $85.00 in a research report on Monday, December 5th. Roth Capital started coverage on Calix in a report on Monday, October 3rd. They issued a “buy” rating for the company. StockNews.com started coverage on shares of Calix in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Craig Hallum lifted their price target on shares of Calix from $69.00 to $95.00 in a research report on Wednesday, October 26th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Calix presently has an average rating of “Moderate Buy” and a consensus price target of $81.22.
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.
- Get a free copy of the StockNews.com research report on Calix (CALX)
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