Truvestments Capital LLC Sells 4,281 Shares of Calix, Inc. (NYSE:CALX)

Truvestments Capital LLC cut its stake in shares of Calix, Inc. (NYSE:CALX) by 63.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,458 shares of the communications equipment provider’s stock after selling 4,281 shares during the quarter. Truvestments Capital LLC’s holdings in Calix were worth $82,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Calix by 4.9% during the third quarter. Vanguard Group Inc. now owns 6,364,846 shares of the communications equipment provider’s stock valued at $291,765,000 after purchasing an additional 298,277 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Calix by 74.7% during the fourth quarter. Pacer Advisors Inc. now owns 9,091 shares of the communications equipment provider’s stock valued at $397,000 after purchasing an additional 3,886 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in Calix during the fourth quarter worth about $721,000. Kornitzer Capital Management Inc. KS increased its holdings in Calix by 4.1% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 823,253 shares of the communications equipment provider’s stock worth $35,968,000 after buying an additional 32,800 shares during the last quarter. Finally, New York State Common Retirement Fund increased its holdings in Calix by 1.3% during the fourth quarter. New York State Common Retirement Fund now owns 176,867 shares of the communications equipment provider’s stock worth $7,727,000 after buying an additional 2,190 shares during the last quarter. 98.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on CALX. Jefferies Financial Group downgraded shares of Calix from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $48.00 to $30.00 in a report on Thursday, April 25th. Craig Hallum raised their price objective on shares of Calix from $41.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Roth Mkm lifted their target price on shares of Calix from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, StockNews.com downgraded shares of Calix from a “hold” rating to a “sell” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Calix has an average rating of “Hold” and an average target price of $42.50.

Calix Stock Performance

Calix stock traded up $1.99 during mid-day trading on Friday, hitting $36.68. 777,566 shares of the company traded hands, compared to its average volume of 690,588. Calix, Inc. has a one year low of $26.76 and a one year high of $48.53. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 118.32 and a beta of 1.76. The stock has a fifty day moving average price of $34.88 and a 200-day moving average price of $34.40.

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

Calix Company Profile

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.