Baillie Gifford & Co. Grows Holdings in Calix, Inc. (NYSE:CALX)

Baillie Gifford & Co. increased its stake in shares of Calix, Inc. (NYSE:CALX) by 57.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 14,972 shares of the communications equipment provider’s stock after purchasing an additional 5,487 shares during the period. Baillie Gifford & Co.’s holdings in Calix were worth $530,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System purchased a new position in shares of Calix in the 4th quarter valued at about $721,000. New York State Common Retirement Fund grew its holdings in Calix by 1.3% during the 4th quarter. New York State Common Retirement Fund now owns 176,867 shares of the communications equipment provider’s stock worth $7,727,000 after acquiring an additional 2,190 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of Calix by 18.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 65,476 shares of the communications equipment provider’s stock valued at $2,861,000 after purchasing an additional 9,969 shares during the last quarter. Semanteon Capital Management LP acquired a new stake in shares of Calix in the 4th quarter valued at $743,000. Finally, Russell Investments Group Ltd. lifted its position in shares of Calix by 3.2% during the 4th quarter. Russell Investments Group Ltd. now owns 107,010 shares of the communications equipment provider’s stock worth $4,675,000 after purchasing an additional 3,277 shares during the last quarter. Institutional investors and hedge funds own 98.14% of the company’s stock.

Calix Stock Up 3.2 %

Shares of NYSE:CALX opened at $37.54 on Monday. The company has a market capitalization of $2.46 billion, a P/E ratio of 121.10 and a beta of 1.76. Calix, Inc. has a 52-week low of $26.76 and a 52-week high of $48.53. The stock’s fifty day simple moving average is $36.21 and its 200-day simple moving average is $34.01.

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

Insiders Place Their Bets

In other news, Director Carl Russo sold 25,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $37.56, for a total transaction of $939,000.00. Following the sale, the director now owns 3,723,381 shares in the company, valued at $139,850,190.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 16.69% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Rosenblatt Securities lifted their price target on Calix from $35.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their target price on Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price target on shares of Calix in a research note on Tuesday, August 20th. StockNews.com upgraded shares of Calix from a “sell” rating to a “hold” rating in a research report on Tuesday, August 20th. Finally, Craig Hallum increased their target price 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

About Calix

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.