AQR Capital Management LLC Sells 52,266 Shares of Calix, Inc. (NYSE:CALX)

AQR Capital Management LLC cut its holdings in shares of Calix, Inc. (NYSE:CALX) by 87.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,834 shares of the communications equipment provider’s stock after selling 52,266 shares during the period. AQR Capital Management LLC’s holdings in Calix were worth $278,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Calix by 14.0% in the first quarter. Vanguard Group Inc. now owns 7,323,628 shares of the communications equipment provider’s stock valued at $242,852,000 after acquiring an additional 900,713 shares in the last quarter. Epoch Investment Partners Inc. boosted its stake in Calix by 23.3% in the first quarter. Epoch Investment Partners Inc. now owns 1,164,049 shares of the communications equipment provider’s stock valued at $38,600,000 after acquiring an additional 219,699 shares in the last quarter. Congress Asset Management Co. MA boosted its stake in Calix by 19.4% in the first quarter. Congress Asset Management Co. MA now owns 1,045,867 shares of the communications equipment provider’s stock valued at $34,681,000 after acquiring an additional 170,180 shares in the last quarter. Wellington Management Group LLP boosted its stake in Calix by 10.5% in the fourth quarter. Wellington Management Group LLP now owns 1,755,497 shares of the communications equipment provider’s stock valued at $76,698,000 after acquiring an additional 166,695 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its stake in Calix by 82.7% in the second quarter. Squarepoint Ops LLC now owns 300,346 shares of the communications equipment provider’s stock valued at $10,641,000 after acquiring an additional 135,916 shares in the last quarter. 98.14% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $37.56, for a total value of $939,000.00. Following the sale, the director now owns 3,723,381 shares in the company, valued at $139,850,190.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 16.69% of the company’s stock.

Wall Street Analyst Weigh In

CALX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on shares of Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. StockNews.com raised shares of Calix from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price target on shares of Calix in a report on Tuesday, September 10th. Roth Mkm raised their price target on shares of Calix from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, Craig Hallum raised their price target on shares of Calix from $41.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.50.

Calix Stock Performance

CALX opened at $39.29 on Thursday. Calix, Inc. has a fifty-two week low of $26.76 and a fifty-two week high of $45.53. The company has a fifty day moving average of $37.31 and a two-hundred day moving average of $34.78. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 126.74 and a beta of 1.74.

Calix (NYSE:CALX) last released its quarterly earnings data on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Calix had a net margin of 0.52% and a return on equity of 4.17%. The company had revenue of $198.14 million during the quarter, compared to analysts’ expectations of $200.77 million. During the same quarter in the previous year, the company earned $0.15 earnings per share. The firm’s revenue for the quarter was down 24.1% on a year-over-year basis. On average, equities research analysts forecast that Calix, Inc. will post -0.36 earnings per share 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.