Portside Wealth Group LLC Increases Stock Position in Calix, Inc. (NYSE:CALX)

Portside Wealth Group LLC grew its position in shares of Calix, Inc. (NYSE:CALX) by 43.0% in the third quarter, HoldingsChannel reports. The firm owned 10,317 shares of the communications equipment provider’s stock after buying an additional 3,103 shares during the quarter. Portside Wealth Group LLC’s holdings in Calix were worth $400,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CALX. Harbor Capital Advisors Inc. grew its holdings in Calix by 15.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 11,390 shares of the communications equipment provider’s stock valued at $442,000 after buying an additional 1,483 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of Calix in the third quarter valued at $39,000. Farther Finance Advisors LLC raised its stake in Calix by 42.1% during the third quarter. Farther Finance Advisors LLC now owns 1,763 shares of the communications equipment provider’s stock valued at $68,000 after purchasing an additional 522 shares in the last quarter. US Bancorp DE raised its stake in Calix by 399.3% during the third quarter. US Bancorp DE now owns 5,672 shares of the communications equipment provider’s stock valued at $220,000 after purchasing an additional 4,536 shares in the last quarter. Finally, Congress Asset Management Co. lifted its position in Calix by 30.1% during the third quarter. Congress Asset Management Co. now owns 1,565,471 shares of the communications equipment provider’s stock valued at $60,725,000 after purchasing an additional 361,805 shares during the last quarter. 98.14% of the stock is owned by institutional investors.

Calix Stock Performance

Shares of CALX stock opened at $33.52 on Friday. The stock has a 50 day moving average price of $37.17 and a 200 day moving average price of $35.46. Calix, Inc. has a 52-week low of $26.76 and a 52-week high of $45.15. The firm has a market capitalization of $2.22 billion, a P/E ratio of -139.67 and a beta of 1.75.

Calix (NYSE:CALX) last released its earnings results on Monday, October 28th. The communications equipment provider reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.04. The business had revenue of $200.95 million during the quarter, compared to the consensus estimate of $201.06 million. Calix had a positive return on equity of 1.33% and a negative net margin of 1.79%. The business’s revenue for the quarter was down 23.8% compared to the same quarter last year. During the same period last year, the company earned $0.25 earnings per share. As a group, sell-side analysts forecast that Calix, Inc. will post -0.34 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $45.00 target price on shares of Calix in a report on Tuesday, October 29th. StockNews.com raised Calix from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. boosted their target price on Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Roth Mkm raised their price target on Calix from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, Craig Hallum boosted their price objective on shares of Calix from $41.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.50.

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.