Calix, Inc. (NYSE:CALX) Shares Acquired by Needham Investment Management LLC

Needham Investment Management LLC raised its stake in shares of Calix, Inc. (NYSE:CALX) by 42.9% in the third quarter, Holdings Channel.com reports. The fund owned 250,000 shares of the communications equipment provider’s stock after purchasing an additional 75,000 shares during the period. Needham Investment Management LLC’s holdings in Calix were worth $9,698,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Mesirow Institutional Investment Management Inc. increased its position in shares of Calix by 8.9% during the second quarter. Mesirow Institutional Investment Management Inc. now owns 358,647 shares of the communications equipment provider’s stock valued at $12,707,000 after acquiring an additional 29,367 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in shares of Calix by 9.2% in the second quarter. Kornitzer Capital Management Inc. KS now owns 812,053 shares of the communications equipment provider’s stock valued at $28,771,000 after purchasing an additional 68,300 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Calix by 28.5% in the second quarter. Envestnet Asset Management Inc. now owns 129,359 shares of the communications equipment provider’s stock valued at $4,583,000 after purchasing an additional 28,685 shares in the last quarter. Creative Planning acquired a new position in shares of Calix in the second quarter valued at approximately $513,000. Finally, Paradigm Capital Management Inc. NY grew its holdings in shares of Calix by 9.5% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,336,900 shares of the communications equipment provider’s stock valued at $47,366,000 after purchasing an additional 115,500 shares in the last quarter. 98.14% of the stock is currently owned by institutional investors and hedge funds.

Calix Price Performance

NYSE CALX traded down $0.01 during trading hours on Tuesday, reaching $33.01. The company’s stock had a trading volume of 48,661 shares, compared to its average volume of 764,533. Calix, Inc. has a fifty-two week low of $26.76 and a fifty-two week high of $45.15. The company’s 50-day moving average is $35.78 and its two-hundred day moving average is $35.80.

Calix (NYSE:CALX) last issued its quarterly earnings data on Monday, October 28th. The communications equipment provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. Calix had a negative net margin of 1.79% and a positive return on equity of 1.33%. The firm had revenue of $200.95 million for the quarter, compared to analysts’ expectations of $201.06 million. During the same period in the prior year, the company earned $0.25 EPS. The firm’s revenue was down 23.8% on a year-over-year basis. As a group, research analysts forecast that Calix, Inc. will post -0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CALX has been the subject of a number of research reports. Needham & Company LLC restated a “buy” rating and issued a $45.00 price objective on shares of Calix in a report on Tuesday, October 29th. Rosenblatt Securities reiterated a “buy” rating and issued a $45.00 price target on shares of Calix in a research note on Thursday, October 3rd. Finally, StockNews.com upgraded shares of Calix from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $42.50.

Calix 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.