Calix, Inc $CALX Stock Position Reduced by Penn Capital Management Company LLC

Penn Capital Management Company LLC lessened its holdings in Calix, Inc (NYSE:CALX) by 6.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 362,634 shares of the communications equipment provider’s stock after selling 25,605 shares during the quarter. Penn Capital Management Company LLC owned 0.58% of Calix worth $12,485,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CALX. Fulcrum Asset Management LLP boosted its stake in Calix by 4,381.9% in the 3rd quarter. Fulcrum Asset Management LLP now owns 6,454 shares of the communications equipment provider’s stock worth $216,000 after purchasing an additional 6,310 shares in the last quarter. Covestor Ltd increased its stake in Calix by 85.4% during the 3rd quarter. Covestor Ltd now owns 1,446 shares of the communications equipment provider’s stock valued at $49,000 after purchasing an additional 666 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Calix in the third quarter worth $235,000. Summit Global Investments raised its holdings in shares of Calix by 125.5% in the third quarter. Summit Global Investments now owns 36,825 shares of the communications equipment provider’s stock worth $1,265,000 after buying an additional 20,497 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in shares of Calix by 72.8% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 75,983 shares of the communications equipment provider’s stock worth $2,611,000 after buying an additional 32,000 shares during the period. Hedge funds and other institutional investors own 98.14% of the company’s stock.

Wall Street Analyst Weigh In

CALX has been the subject of a number of research reports. Wall Street Zen downgraded Calix from a “strong-buy” rating to a “buy” rating in a report on Sunday. Roth Capital reissued a “buy” rating on shares of Calix in a research report on Tuesday, July 21st. Zacks Research upgraded shares of Calix from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. Weiss Ratings downgraded shares of Calix from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, October 26th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Calix in a report on Wednesday, November 4th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.80.

Trending Headlines about Calix

Here are the key news stories impacting Calix this week:

• Positive Sentiment: Brokerages’ reported consensus target price of $55.80 is well above CALX’s recent trading level, suggesting potential upside in analysts’ valuation outlook. The figure may not reflect a new estimate. Calix consensus target price
• Neutral Sentiment: Calix announced upcoming investor events, including conferences and a company-hosted bus tour where executives will meet with investors. These provide opportunities for updates but no new financial guidance was included in the announcement. Calix Announces Upcoming Investor Events
• Neutral Sentiment: The A$10 million investment agreement for a green iron project relates to Calix Ltd. (Australia: CXL), not Calix, Inc. (NYSE: CALX), so it should not be treated as news about this stock. Calix Ltd. green iron project announcement
• Negative Sentiment: Director Carl Russo sold 75,000 shares for about $2.33 million. The sale was made under a pre-arranged Rule 10b5-1 plan, and he retained nearly 1.5 million shares, which may temper concerns but does not eliminate the potential negative sentiment from insider selling. Calix insider share sale
• Negative Sentiment: Wall Street Zen cut its rating on CALX to “Buy,” a downgrade from its prior rating, although the recommendation remains positive. Calix rating cut to Buy

Insider Transactions at Calix

In other Calix news, Director Carl Russo sold 75,000 shares of Calix stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $31.07, for a total transaction of $2,330,250.00. Following the completion of the sale, the director directly owned 1,494,188 shares in the company, valued at $46,424,421.16. This trade represents a 4.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.44% of the stock is currently owned by company insiders.

Calix Stock Performance

NYSE:CALX opened at $32.23 on Tuesday. The company has a fifty day moving average of $35.49 and a two-hundred day moving average of $41.95. The stock has a market capitalization of $1.99 billion, a PE ratio of 47.40 and a beta of 1.21. Calix, Inc has a fifty-two week low of $30.55 and a fifty-two week high of $65.00.

Calix (NYSE:CALX) last issued its quarterly earnings results on Monday, November 2nd. The communications equipment provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The firm had revenue of $301.71 million for the quarter, compared to analyst estimates of $304.23 million. Calix had a return on equity of 5.67% and a net margin of 3.99%. The business’s revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 earnings per share. Research analysts forecast that Calix, Inc will post 0.85 earnings per share for the current year.

About Calix

Calix, Inc provides cloud, software, systems and services to broadband service providers. Its offerings are designed to help providers build and manage access networks, improve operations and deliver broadband services and digital experiences to residential and business subscribers.

The company’s portfolio includes the Calix Broadband Platform, which brings together network access systems, software and cloud-based applications. Products and services support network management, subscriber experience and the delivery of services such as broadband connectivity and managed Wi-Fi.

Founded in 1999 and headquartered in San Jose, California, Calix serves communications service providers in multiple markets, including providers in North America.