Torno Capital LLC Purchases Shares of 11,575 Calix, Inc. (NYSE:CALX)

Torno Capital LLC bought a new stake in shares of Calix, Inc. (NYSE:CALX) during the 2nd quarter, Holdings Channel reports. The fund bought 11,575 shares of the communications equipment provider’s stock, valued at approximately $410,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Headlands Technologies LLC purchased a new stake in Calix in the first quarter worth about $48,000. TFO Wealth Partners LLC lifted its stake in shares of Calix by 13,787.5% in the 4th quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock valued at $49,000 after purchasing an additional 1,103 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Calix by 13.7% during the second quarter. Nisa Investment Advisors LLC now owns 2,520 shares of the communications equipment provider’s stock valued at $89,000 after purchasing an additional 303 shares in the last quarter. Assetmark Inc. grew its stake in Calix by 41.5% in the fourth quarter. Assetmark Inc. now owns 2,233 shares of the communications equipment provider’s stock worth $98,000 after purchasing an additional 655 shares during the period. Finally, EntryPoint Capital LLC raised its holdings in Calix by 8,924.4% in the first quarter. EntryPoint Capital LLC now owns 3,700 shares of the communications equipment provider’s stock worth $123,000 after purchasing an additional 3,659 shares in the last quarter. Institutional investors own 98.14% of the company’s stock.

Calix Stock Performance

Shares of NYSE CALX opened at $38.84 on Tuesday. The firm’s 50 day moving average price is $37.01 and its 200-day moving average price is $34.28. Calix, Inc. has a 52-week low of $26.76 and a 52-week high of $47.15. The company has a market cap of $2.54 billion, a PE ratio of 125.29 and a beta of 1.74.

Calix (NYSE:CALX) last issued its earnings results on Monday, July 22nd. The communications equipment provider reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03. The business had revenue of $198.14 million for the quarter, compared to the consensus estimate of $200.77 million. Calix had a return on equity of 4.17% and a net margin of 0.52%. The company’s revenue was down 24.1% compared to the same quarter last year. During the same period last year, the business posted $0.15 EPS. On average, analysts forecast that Calix, Inc. will post -0.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CALX. Needham & Company LLC restated a “buy” rating and set a $45.00 target price on shares of Calix in a report on Tuesday, September 10th. Rosenblatt Securities boosted their price objective on shares of Calix from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their price objective on shares of Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Roth Mkm lifted their target price on shares of Calix from $43.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, StockNews.com downgraded Calix from a “hold” rating to a “sell” rating in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $42.50.

Insiders Place Their Bets

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

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.