Calix, Inc. (NYSE:CALX) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its holdings in Calix, Inc. (NYSE:CALX) by 15.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,018 shares of the communications equipment provider’s stock after selling 1,286 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Calix were worth $307,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. TD Asset Management Inc boosted its holdings in shares of Calix by 516.6% in the fourth quarter. TD Asset Management Inc now owns 1,610,885 shares of the communications equipment provider’s stock worth $70,380,000 after buying an additional 1,349,625 shares during the period. Epoch Investment Partners Inc. grew its position in Calix by 213.8% during the 4th quarter. Epoch Investment Partners Inc. now owns 944,350 shares of the communications equipment provider’s stock worth $41,259,000 after purchasing an additional 643,392 shares in the last quarter. Norges Bank acquired a new stake in Calix during the 4th quarter valued at $26,483,000. Artemis Investment Management LLP purchased a new stake in shares of Calix in the fourth quarter valued at $18,165,000. Finally, Wellington Management Group LLP boosted its position in shares of Calix by 24.6% in the third quarter. Wellington Management Group LLP now owns 1,588,802 shares of the communications equipment provider’s stock worth $72,831,000 after buying an additional 313,380 shares during the period. Institutional investors own 98.14% of the company’s stock.

Calix Stock Performance

CALX opened at $35.43 on Monday. The company has a market cap of $2.32 billion, a PE ratio of 114.29 and a beta of 1.75. The stock has a 50-day moving average of $32.65 and a 200-day moving average of $35.48. Calix, Inc. has a 52-week low of $26.76 and a 52-week high of $51.74.

Calix (NYSE:CALX) last posted its quarterly earnings data on Monday, April 22nd. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.01. Calix had a net margin of 2.19% and a return on equity of 6.64%. The company had revenue of $226.31 million for the quarter, compared to the consensus estimate of $228.01 million. On average, research analysts predict that Calix, Inc. will post -0.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CALX has been the topic of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $45.00 price target on shares of Calix in a research report on Monday, May 20th. StockNews.com downgraded Calix from a “hold” rating to a “sell” rating in a report on Friday, May 10th. Roth Mkm restated a “buy” rating and set a $50.00 price target on shares of Calix in a report on Monday, April 22nd. Jefferies Financial Group downgraded shares of Calix from a “buy” rating to a “hold” rating and lowered their price objective for the company from $48.00 to $30.00 in a research report on Thursday, April 25th. Finally, Craig Hallum cut their target price on shares of Calix from $48.00 to $41.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Calix presently has an average rating of “Hold” and a consensus target price of $40.50.

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.