Arcadia Investment Management Corp MI Takes Position in Calix, Inc. (NYSE:CALX)

Arcadia Investment Management Corp MI purchased a new stake in Calix, Inc. (NYSE:CALX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,000 shares of the communications equipment provider’s stock, valued at approximately $39,000.

Several other hedge funds also recently modified their holdings of CALX. Farther Finance Advisors LLC lifted its position in shares of Calix by 42.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,763 shares of the communications equipment provider’s stock worth $68,000 after buying an additional 522 shares in the last quarter. US Bancorp DE boosted its holdings in Calix by 399.3% in the 3rd quarter. US Bancorp DE now owns 5,672 shares of the communications equipment provider’s stock worth $220,000 after buying an additional 4,536 shares during the period. Congress Asset Management Co. grew its stake in Calix by 30.1% in the 3rd quarter. Congress Asset Management Co. now owns 1,565,471 shares of the communications equipment provider’s stock valued at $60,725,000 after buying an additional 361,805 shares in the last quarter. Diversify Wealth Management LLC raised its holdings in Calix by 19.3% during the 3rd quarter. Diversify Wealth Management LLC now owns 10,066 shares of the communications equipment provider’s stock valued at $373,000 after acquiring an additional 1,628 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Calix during the third quarter worth $34,000. Hedge funds and other institutional investors own 98.14% of the company’s stock.

Calix Trading Up 0.3 %

Shares of Calix stock opened at $35.50 on Friday. The firm has a market capitalization of $2.35 billion, a PE ratio of -147.92 and a beta of 1.75. Calix, Inc. has a 12 month low of $26.76 and a 12 month high of $45.15. The business’s 50-day moving average price is $37.43 and its 200-day moving average price is $35.28.

Calix (NYSE:CALX) last issued its quarterly earnings results on Monday, October 28th. The communications equipment provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. The business had revenue of $200.95 million for the quarter, compared to analysts’ expectations of $201.06 million. Calix had a negative net margin of 1.79% and a positive return on equity of 1.33%. The business’s quarterly revenue was down 23.8% on a year-over-year basis. During the same period last year, the business earned $0.25 earnings per share. As a group, analysts predict that Calix, Inc. will post -0.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CALX shares. JPMorgan Chase & Co. boosted their price objective on Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price objective on shares of Calix in a research note on Tuesday, October 29th. StockNews.com raised shares of Calix from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Roth Mkm raised their price target on Calix from $43.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Rosenblatt Securities restated a “buy” rating and issued a $45.00 price objective on shares of Calix in a research report on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

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.