Calix, Inc. (NYSE:CALX) Shares Acquired by Connors Investor Services Inc.

Connors Investor Services Inc. boosted its holdings in shares of Calix, Inc. (NYSE:CALX) by 26.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 103,169 shares of the communications equipment provider’s stock after purchasing an additional 21,433 shares during the period. Connors Investor Services Inc. owned approximately 0.16% of Calix worth $3,598,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Calix by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 7,977,769 shares of the communications equipment provider’s stock worth $278,185,000 after purchasing an additional 412,982 shares during the last quarter. Norges Bank acquired a new position in Calix in the 4th quarter valued at $11,518,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Calix by 2,741.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 266,197 shares of the communications equipment provider’s stock worth $9,282,000 after buying an additional 256,829 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Calix by 57.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 644,984 shares of the communications equipment provider’s stock worth $22,490,000 after acquiring an additional 234,521 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Calix by 93.0% in the fourth quarter. JPMorgan Chase & Co. now owns 246,199 shares of the communications equipment provider’s stock valued at $8,585,000 after acquiring an additional 118,629 shares in the last quarter. Institutional investors and hedge funds own 98.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $53.00 price objective on shares of Calix in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. upped their price objective on Calix from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, April 23rd. Roth Capital set a $50.00 price target on shares of Calix and gave the stock a “buy” rating in a research note on Tuesday, April 22nd. UBS Group reiterated a “buy” rating on shares of Calix in a report on Tuesday, April 22nd. Finally, Rosenblatt Securities increased their target price on shares of Calix from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.83.

Insider Buying and Selling at Calix

In other news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $39.59, for a total value of $989,750.00. Following the completion of the sale, the director now directly owns 2,139,188 shares in the company, valued at approximately $84,690,452.92. The trade was a 1.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.90% of the stock is currently owned by insiders.

Calix Trading Up 1.6 %

NYSE CALX opened at $40.69 on Wednesday. Calix, Inc. has a twelve month low of $27.60 and a twelve month high of $42.50. The business’s 50-day moving average price is $34.99 and its 200 day moving average price is $35.86. The company has a market capitalization of $2.64 billion, a PE ratio of -90.42 and a beta of 1.75.

Calix (NYSE:CALX) last issued its earnings results on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.06. Calix had a negative return on equity of 3.43% and a negative net margin of 3.58%. The business had revenue of $220.20 million for the quarter, compared to analyst estimates of $206.98 million. During the same period last year, the company posted $0.21 EPS. Equities analysts predict that Calix, Inc. will post -0.43 EPS for the current year.

Calix announced that its Board of Directors has authorized a share repurchase plan on Monday, April 21st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the communications equipment provider to buy up to 4.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

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.