Magnus Financial Group LLC Makes New Investment in Calix, Inc. (NYSE:CALX)

Magnus Financial Group LLC acquired a new position in shares of Calix, Inc. (NYSE:CALX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,430 shares of the communications equipment provider’s stock, valued at approximately $211,000.

A number of other hedge funds have also recently added to or reduced their stakes in CALX. Wellington Management Group LLP grew its holdings in Calix by 10.5% during the 4th quarter. Wellington Management Group LLP now owns 1,755,497 shares of the communications equipment provider’s stock worth $76,698,000 after acquiring an additional 166,695 shares during the period. Vanguard Group Inc. increased its holdings in Calix by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 6,422,915 shares of the communications equipment provider’s stock valued at $280,617,000 after purchasing an additional 58,069 shares during the last quarter. Congress Asset Management Co. MA lifted its stake in Calix by 19.4% in the first quarter. Congress Asset Management Co. MA now owns 1,045,867 shares of the communications equipment provider’s stock valued at $34,681,000 after buying an additional 170,180 shares during the period. Thompson Investment Management Inc. boosted its holdings in Calix by 42.6% during the first quarter. Thompson Investment Management Inc. now owns 55,950 shares of the communications equipment provider’s stock worth $1,855,000 after buying an additional 16,725 shares during the last quarter. Finally, Harbour Capital Advisors LLC increased its stake in shares of Calix by 52.0% in the 1st quarter. Harbour Capital Advisors LLC now owns 10,450 shares of the communications equipment provider’s stock valued at $335,000 after acquiring an additional 3,575 shares during the last quarter. Institutional investors own 98.14% of the company’s stock.

Calix Trading Up 0.8 %

Shares of NYSE CALX opened at $39.29 on Thursday. The firm has a market cap of $2.57 billion, a PE ratio of 126.74 and a beta of 1.74. Calix, Inc. has a 1-year low of $26.76 and a 1-year high of $45.53. The company has a fifty day moving average price of $37.31 and a 200 day moving average price of $34.78.

Calix (NYSE:CALX) last announced its earnings results on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The firm had revenue of $198.14 million during the quarter, compared to analyst estimates of $200.77 million. Calix had a net margin of 0.52% and a return on equity of 4.17%. The company’s revenue for the quarter was down 24.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.15 EPS. Equities research analysts forecast that Calix, Inc. will post -0.36 EPS for the current year.

Insider Buying and Selling

In related news, Director Carl Russo sold 25,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $37.56, for a total value of $939,000.00. Following the completion of the transaction, the director now directly owns 3,723,381 shares of the company’s stock, valued at approximately $139,850,190.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 16.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Craig Hallum lifted their price objective on shares of Calix from $41.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price target on shares of Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $45.00 price target on shares of Calix in a report on Thursday, October 3rd. StockNews.com raised shares of Calix from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of Calix in a report on Tuesday, September 10th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

About Calix

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.