Calix (NYSE:CALX) Stock Price Down 5.5% – Should You Sell?

Calix, Inc. (NYSE:CALX) dropped 5.5% during mid-day trading on Tuesday . The stock traded as low as $37.17 and last traded at $37.30. Approximately 213,290 shares changed hands during trading, a decline of 71% from the average daily volume of 729,470 shares. The stock had previously closed at $39.47.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CALX shares. StockNews.com upgraded Calix from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Craig Hallum lifted their price target on shares of Calix from $41.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Rosenblatt Securities reissued a “buy” rating and issued a $45.00 target price on shares of Calix in a report on Thursday, October 3rd. JPMorgan Chase & Co. upped their target price on Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Finally, Needham & Company LLC restated a “buy” rating and set a $45.00 price objective on shares of Calix in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

Calix Trading Down 3.9 %

The company has a market cap of $2.39 billion, a price-to-earnings ratio of -151.04 and a beta of 1.74. The stock has a 50-day simple moving average of $37.49 and a 200-day simple moving average of $35.24.

Calix (NYSE:CALX) last announced its earnings results on Monday, October 28th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. Calix had a net margin of 0.52% and a return on equity of 4.17%. The firm had revenue of $200.95 million during the quarter, compared to analyst estimates of $201.06 million. During the same quarter in the prior year, the firm posted $0.25 EPS. Calix’s revenue was down 23.8% compared to the same quarter last year. As a group, research analysts expect that Calix, Inc. will post -0.36 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Carl Russo sold 25,000 shares of Calix 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 transaction, the director now directly owns 3,723,381 shares in the company, valued at approximately $139,850,190.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 17.04% of the stock is owned by corporate insiders.

Institutional Trading of Calix

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position 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 worth $242,852,000 after buying an additional 900,713 shares during the last quarter. Divisar Capital Management LLC acquired a new position in shares of Calix in the 2nd quarter worth $15,876,000. Congress Asset Management Co. raised its position in shares of Calix by 30.1% during the third quarter. Congress Asset Management Co. now owns 1,565,471 shares of the communications equipment provider’s stock worth $60,725,000 after purchasing an additional 361,805 shares during the period. Epoch Investment Partners Inc. lifted its holdings in shares of 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 purchasing an additional 219,699 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its position in shares of Calix by 82.7% in the 2nd quarter. Squarepoint Ops LLC now owns 300,346 shares of the communications equipment provider’s stock valued at $10,641,000 after purchasing an additional 135,916 shares during the period. 98.14% of the stock is currently owned by institutional investors.

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.