Calix Inc.
As per its latest 13F filing with the Securities and Exchange Commission, Allspring Global Investments Holdings LLC experienced a 19.7% decrease in its shares of Calix, Inc. (NYSE:CALX – Free Report) during the fourth quarter. Following the sale of 58,951 shares during the period, the company possessed 239,865 shares of the communications equipment provider’s equity. When the latest reporting period ended, Allspring Global Investments Holdings LLC held roughly 0.36% of Calix, valued at $10,480,000.
Dropping 29%, Is This a Moonshot Deal or a Falling Knife?
Stakes in the company have recently been increased or decreased by a number of other institutional investors and hedge funds. A new investment of about $45,000 was made by Coppell Advisory Solutions Corp. in Calix shares during the fourth quarter. Approximately $54,000 worth of Calix shares were purchased by Altshuler Shaham Ltd in the fourth quarter. Over the course of the second quarter, Captrust Financial Advisors increased its ownership of Calix shares by 31.7%.
During the period, Captrust Financial Advisors acquired an additional 204 shares, bringing its total ownership of the communications equipment provider’s stock to 847 shares, valued at $29,000. In the fourth quarter, Natixis purchased a fresh stake of about $60,000 worth of Calix shares. In the first quarter, Quarry LP increased its ownership of Calix shares by 483.2%. After purchasing 807 more shares during the period, Quarry LP now has 52,000 worth of shares of the communications equipment provider. Hedge funds and institutional investors hold 98.14% of the company’s shares.
Wall Street Expert Opinion
Recently, several equities research analysts offered their opinions on the business. In a report published on Wednesday, February 28th, StockNews.com upgraded Calix from a “sell” rating to a “hold” rating. In a report released on Tuesday, January 30, Rosenblatt Securities maintained a “buy” rating for Calix and lowered their price target from $57.00 to $45.00.
Finally, on Wednesday, January 31st, Needham & Company LLC released a report in which they lowered their price target on Calix from $55.00 to $50.00 and assigned the stock a “buy” rating. The company’s stock has been rated as buy by four investment analysts, and two have given it a hold rating. MarketBeat data indicates that Calix has a consensus price target of $54.60 and a rating of “Moderate Buy.”
Performance of Calix Stock
On Wednesday, the stock of CALX opened at $29.37. The one-year low and high for Calix, Inc. are $29.08 and $53.90, respectively. The 200-day moving average price of the stock is $38.04, while its 50-day moving average is $33.68. The market capitalization of the company is $1.92 billion, with a P/E ratio of 65.27 and a beta of 1.65.
Last updated on Tuesday, January 30th, Calix (NYSE:CALX – Get Free Report) disclosed its financial results. With a $0.07 margin over analysts’ consensus estimates of $0.36, the communications equipment provider reported $0.43 earnings per share (EPS) for the quarter. With a net margin of 3.06%, Calix had a 7.92% equity return. The company’s revenue for the quarter was $264.73 million, as opposed to the $264.41 million predicted by analysts. The year before, the company’s earnings per share (EPS) was $0.18. On an annual basis, Calix’s revenue increased by 8.3%. Research analysts generally estimate that for the current year, Calix, Inc. will report earnings per share of 0.45.
Regarding Calix
Offering cloud and software platforms, systems, and services in the US, the rest of the Americas, Europe, the Middle East, Africa, and Asia Pacific are the activities that Calix, Inc. and its subsidiaries undertake. Its systems, services, and software platforms allow broadband service providers (BSPs) to offer a variety of services.
You should know this before you think about Calix.
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