The Manufacturers Life Insurance Company Buys 857 Shares of Calix, Inc. (NYSE:CALX)

The Manufacturers Life Insurance Company increased its position in Calix, Inc. (NYSE:CALX) by 2.7% during the 2nd quarter, Holdings Channel reports. The firm owned 32,959 shares of the communications equipment provider’s stock after acquiring an additional 857 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Calix were worth $1,168,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CALX. Vanguard Group Inc. increased its stake in shares of Calix by 14.0% during 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 buying an additional 900,713 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Calix by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,793,545 shares of the communications equipment provider’s stock valued at $63,546,000 after purchasing an additional 45,656 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Calix by 10.5% in the 4th quarter. Wellington Management Group LLP now owns 1,755,497 shares of the communications equipment provider’s stock worth $76,698,000 after purchasing an additional 166,695 shares during the period. Paradigm Capital Management Inc. NY boosted its stake in shares of Calix by 9.5% during 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. Finally, Epoch Investment Partners Inc. increased its holdings in Calix by 23.3% during 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 buying an additional 219,699 shares during the period. 98.14% of the stock is currently owned by hedge funds and other institutional investors.

Calix Stock Performance

Calix stock opened at $38.22 on Friday. The stock has a 50-day moving average of $37.19 and a two-hundred day moving average of $34.66. Calix, Inc. has a one year low of $26.76 and a one year high of $45.99. The stock has a market cap of $2.51 billion, a PE ratio of 637.00 and a beta of 1.74.

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

Insiders Place Their Bets

In other Calix news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $37.56, for a total transaction of $939,000.00. Following the completion of the sale, the director now directly owns 3,723,381 shares in the company, valued at approximately $139,850,190.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 16.69% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on CALX shares. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 target price on shares of Calix in a research report on Tuesday, September 10th. JPMorgan Chase & Co. raised their price objective on Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Roth Mkm raised their price objective on Calix from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com raised Calix from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, Craig Hallum raised their price objective on Calix from $41.00 to $50.00 and gave the company a “buy” rating in a research 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.