BlackRock Fund Advisors has recently announced that it has increased stake in Calix Inc (NYSE:CALX) by 4.17%. After grabbing 6.91 million shares, the institutional investor is now in possession of 0.28 million shares of the Technology Company. The new investment brought the stake of investor firm to 10.49% having worth around $228.8 million. Moreover, The Vanguard Group, Inc. increased its share by 0.3 million to have a control over 6.19 million shares. And AllianceBernstein LP raised its holdings to 0.5 million shares by acquiring 2.37 million shares or 3.60% of the stake.
Calix Inc (CALX) concluded trading on 11/22/23 at a closing price of $37.92, with 0.5 million shares of worth about $18.86 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -15.15% during that period and on Wednesday the price saw a gain of about 0.21%. Currently the company’s common shares owned by public are about 65.73M shares, out of which, 57.92M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 8 analysts are covering the CALX stock and their offered price forecasts bring an average price target of $54.75. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $75.00 and could fall to a lowest price of $42.00. The stock’s current price level is 30.74% above of average price target set by the analysts, while a rise to estimated low would result in gain of 9.71% for the stock. However, touching the estimated high of $75.00 would mean a gain of 49.44% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 21 times over the past 12 months. They bought 310,744 shares in 14 of the transactions. In 7 selling transactions, insiders dumped 191,500 shares.
iShares Core S&P Mid Cap ETF, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Calix Inc iShares Core S&P Mid Cap ETF is currently holding 1.82 million shares of worth totaling $60.37 million. The company recently came buying 0.0 shares which brought its stake up to 2.77% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 13590.0 shares, after which its hold over company’s outstanding shares expand to 2.68%, leaving 1.76 million shares with the mutual fund that have a worth of about $58.44 million. Vanguard Small Cap Index Fund, after buying 1.46 million shares, have now control over 2.21% of the stake in the company. It holds 4108.0 shares of worth $48.21 million.
Calix Inc (NYSE: CALX) started trading at $38.25, above $0.41 from concluding price of the previous day. However, the stock later moved at a day high price of 38.69, or with a gain of 0.21%. Stock saw a price change of -0.58% in past 5 days and over the past one month there was a price change of 8.97%. Year-to-date (YTD), CALX shares are showing a performance of -44.59% which decreased to -43.77% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $31.95 but also hit the highest price of $77.44 during that period. The average intraday trading volume for Calix Inc shares is 745.96K. The stock is currently trading 7.22% above its 20-day simple moving average (SMA20), while that difference is down -7.23% for SMA50 and it goes to -17.91% lower than SMA200.
BlackRock Fund Advisors acquired 6.91 million shares of Calix Inc having value of about $228.8 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.28 million shares in the company valued at close to $10497962.4, or have control over 4.17% stake in the company. Calix Inc (NYSE: CALX) currently have 65.73M outstanding shares and institutions hold larger chunk of about 83.47% of that. Holding of mutual funds in the company is about 35.18% while other institutional holders and individual stake holders have control over 48.46% and 25.77% of the stake respectively.
The stock has a current market capitalization of $2.50B and its 3Y-monthly beta is at 1.55. PE ratio of stock for trailing 12 months is 55.23, while it has posted earnings per share of $0.69 in the same period. Its PEG reads 2.76 and has Quick Ratio of 3.14 while making debt-to-equity ratio of 0.02. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CALX, volatility over the week remained 3.19% while standing at 4.21% over the month.
Analysts are in expectations that Calix Inc (CALX) stock would likely to be making an EPS of $0.36 in the current quarter, while forecast for next quarter EPS is $0.38 and it is $1.65 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.35 which is $0.39 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.34 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 31.92% while it is estimated to increase by 11.59% in next year.
Analysts at 8 brokerage firms have issued recommendations for the Calix Inc (CALX)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.25. Out of those 8 Wall Street analysts, 7 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by JP Morgan on May 19, 2023 offering a Neutral rating for the stock and assigned a target price of $49 to it.
