BlackRock Fund Advisors recently announced the acquisition of new stake in Calix Inc. (NYSE:CALX). The institutional investor has increased its shareholding in the Technology company by 2.66% to 3.56 million shares with purchase of 92063.0 shares. This fresh investment now brings its stake to 5.83% valued currently at $72.92 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.28 million to 2.77 million shares. And Gilder, Gagnon, Howe & Co. LLC has lifted its position by 40.09% or 0.64 million shares – to 2.23 million shares.
With over 1.96 million Calix Inc. (CALX) shares trading Tuesday and a closing price of $21.84 on the day, the dollar volume was approximately $42.72 million. The shares have shown a positive weekly performance of 6.23% and its price on 09/01/20 gained nearly 12.29%. Currently, there are 57.26M common shares owned by the public and among those 52.50M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for CALX have a consensus price objective of $23.25. The analysts have set the share’s price value over the next 12 months at a high of $25.00 and a low of $21.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Calix Inc. stock is 1.70 for the next 12 months. The average price target is 9.0% above its last price level and an upside to the estimated low will see the stock lose -4.0% over that period. But an upside of 12.64% will see the stock hit the forecast high price target while mean target price for the stock is $23.50.
Insiders at the company have transacted a total of 33 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 25 of these insider trades were purchases, accounting for 272,024 shares. Insider sales of the common stock occurred on 8 occasions, with total insider shares sold totaling 854,160 shares.
The top 3 mutual fund holders in Calix Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and DFA US Small Cap Portfolio. Vanguard Total Stock Market Index owns 1.42 million shares of the company’s stock, all valued at over $29.09 million. The company bought an additional 14693.0 shares recently to bring their total holdings to about 2.33% of the shares outstanding. iShares Russell 2000 ETF sold 46886.0 shares to see its total holdings shrink to 1.0 million shares valued at over $20.54 million and representing 1.64% of the shares outstanding. DFA US Small Cap Portfolio sold 38710.0 shares to bring its total holdings to over 0.81 million shares at a value of $16.69 million. DFA US Small Cap Portfolio now owns shares totaling to 1.33% of the shares outstanding.
Shares of Calix Inc. (NYSE: CALX) opened at $19.55, up $0.1 from a prior closing price of $19.45. However, the script later closed the day at $21.84, up 12.29%. The company’s stock has a 5-day price change of 6.23% and 51.35% over the past three months. CALX shares are trading 173.00% year to date (YTD), with the 12-month market performance up to 275.26% higher. It has a 12-month low price of $5.61 and touched a high of $22.69 over the same period. Currently, 1.96 million shares have been traded, compared to an average intraday trading volume of 961.52K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.25%, 19.71%, and 89.24% respectively.
Institutional ownership of Calix Inc. (NYSE: CALX) shares accounts for 69.90% of the company’s 57.26M shares outstanding. Mutual fund holders own 29.28%, while other institutional holders and individual stakeholders account for 47.24% and 23.01% respectively.
It has a market capitalization of $1.25B and a beta (3y monthly) value of 1.57. The earnings-per-share (ttm) stands at -$0.25. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.57% over the week and 5.24% over the month.
Analysts forecast that Calix Inc. (CALX) will achieve an EPS of $0.2 for the current quarter, $0.21 for the next quarter and $0.63 for 2021. The lowest estimate earnings-per-share for the quarter is $0.19 while analysts give the company a high EPS estimate of $0.22. Comparatively, EPS for the current quarter was $0.06 a year ago. Earnings per share for the fiscal year are expected to increase by 12.30%, and 21.15% over the next financial year. EPS should grow at an annualized rate of 20.00% over the next five years, compared to 4.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Calix Inc. (CALX) as a “Strong Buy” at a consensus score of 1.70. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 0 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CALX, a number of firms have released research notes about the stock. Jefferies stated their Buy rating for the stock in a research note on April 24, 2020, with the firm’s price target at $7-$13. Northland Capital coverage for the Calix Inc. (CALX) stock in a research note released on February 14, 2018 offered a Outperform rating with a price target of. Northland Capital was of a view on February 15, 2017 that the stock is Market Perform, while Stifel gave the stock Buy rating on January 08, 2016, issuing a price target of $10. Drexel Hamilton on their part issued Buy rating on December 18, 2015.