Calix, Inc $CALX Shares Sold by Penn Capital Management Company LLC

Penn Capital Management Company LLC lessened its stake in Calix, Inc (NYSE:CALX) by 6.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 362,634 shares of the communications equipment provider’s stock after selling 25,605 shares during the quarter. Penn Capital Management Company LLC’s holdings in Calix were worth $12,485,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Pinnacle Wealth Planning Services Inc. increased its stake in shares of Calix by 254.0% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 878 shares of the communications equipment provider’s stock worth $30,000 after buying an additional 630 shares during the period. Harbor Investment Advisory LLC purchased a new position in Calix in the second quarter worth approximately $31,000. Covestor Ltd grew its holdings in Calix by 85.4% during the 3rd quarter. Covestor Ltd now owns 1,446 shares of the communications equipment provider’s stock worth $49,000 after acquiring an additional 666 shares in the last quarter. OV Management LLC acquired a new position in Calix during the 2nd quarter worth approximately $62,000. Finally, Sterling Capital Management LLC grew its holdings in Calix by 827.9% during the 3rd quarter. Sterling Capital Management LLC now owns 1,930 shares of the communications equipment provider’s stock worth $66,000 after acquiring an additional 1,722 shares in the last quarter. 98.14% of the stock is owned by institutional investors and hedge funds.

Calix News Roundup

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

Insiders Place Their Bets

In other news, Director Carl Russo sold 75,000 shares of the business’s stock in a transaction that occurred on 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 owned 1,494,188 shares in the company, valued at approximately $46,424,421.16. The trade was a 4.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 17.44% of the company’s stock.

Calix Stock Up 5.3%

CALX stock opened at $32.23 on Tuesday. The business has a 50 day moving average price of $35.49 and a 200 day moving average price of $41.95. The stock has a market cap of $1.99 billion, a price-to-earnings 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 announced its quarterly earnings results on Monday, November 2nd. The communications equipment provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The firm had revenue of $301.71 million during the quarter, compared to the consensus estimate of $304.23 million. Calix had a return on equity of 5.67% and a net margin of 3.99%. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.44 earnings per share. As a group, sell-side analysts anticipate that Calix, Inc will post 0.85 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CALX. JPMorgan Chase & Co. dropped their price objective on shares of Calix from $58.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 4th. Zacks Research raised shares of Calix from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Weiss Ratings downgraded shares of Calix from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, October 26th. Rosenblatt Securities reissued a “buy” rating and issued a $55.00 target price on shares of Calix in a report on Wednesday, November 4th. Finally, Northland Securities raised Calix from a “market perform” rating to an “outperform” rating and set a $52.00 target price on the stock in a report on Tuesday, July 21st. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.80.

Calix Profile

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.