Illinois Municipal Retirement Fund Reduces Holdings in Calix, Inc. (NYSE:CALX)

Illinois Municipal Retirement Fund trimmed its holdings in shares of Calix, Inc. (NYSE:CALX) by 10.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,714 shares of the communications equipment provider’s stock after selling 3,336 shares during the period. Illinois Municipal Retirement Fund’s holdings in Calix were worth $1,001,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CALX. DekaBank Deutsche Girozentrale purchased a new stake in Calix in the 3rd quarter worth approximately $34,000. Arcadia Investment Management Corp MI purchased a new stake in Calix in the 3rd quarter worth approximately $39,000. Avior Wealth Management LLC grew its stake in Calix by 998.1% in the 3rd quarter. Avior Wealth Management LLC now owns 1,186 shares of the communications equipment provider’s stock worth $46,000 after acquiring an additional 1,078 shares during the period. Pacer Advisors Inc. grew its stake in Calix by 29.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider’s stock worth $54,000 after acquiring an additional 358 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in Calix by 42.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,763 shares of the communications equipment provider’s stock worth $68,000 after acquiring an additional 522 shares during the period. 98.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Calix

In related news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $38.15, for a total transaction of $953,750.00. Following the sale, the director now owns 2,164,188 shares of the company’s stock, valued at $82,563,772.20. The trade was a 1.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 16.69% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on CALX shares. JPMorgan Chase & Co. lifted their target price on shares of Calix from $38.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price target on shares of Calix in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Calix has a consensus rating of “Moderate Buy” and an average price target of $43.17.

Calix Trading Down 0.4 %

NYSE:CALX opened at $36.97 on Monday. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of -82.15 and a beta of 1.70. The firm’s fifty day simple moving average is $38.06 and its 200 day simple moving average is $36.64. Calix, Inc. has a twelve month low of $26.76 and a twelve month high of $42.50.

Calix (NYSE:CALX) last posted its earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.31). Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. On average, analysts predict that Calix, Inc. will post -0.43 earnings per share for the current year.

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.