Jacobs Levy Equity Management Inc. Has $24.71 Million Stock Holdings in Calix, Inc. (NYSE:CALX)

Jacobs Levy Equity Management Inc. increased its holdings in shares of Calix, Inc. (NYSE:CALX) by 105.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 708,723 shares of the communications equipment provider’s stock after buying an additional 364,209 shares during the period. Jacobs Levy Equity Management Inc. owned about 1.07% of Calix worth $24,713,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Barclays PLC raised its holdings in Calix by 184.0% during the 3rd quarter. Barclays PLC now owns 113,579 shares of the communications equipment provider’s stock worth $4,404,000 after purchasing an additional 73,588 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Calix by 46.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 127,570 shares of the communications equipment provider’s stock worth $4,948,000 after purchasing an additional 40,306 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in Calix by 25.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 14,301 shares of the communications equipment provider’s stock worth $499,000 after purchasing an additional 2,911 shares during the last quarter. SG Americas Securities LLC bought a new position in Calix during the 4th quarter worth approximately $391,000. Finally, Inspire Investing LLC raised its holdings in Calix by 9.2% during the 4th quarter. Inspire Investing LLC now owns 11,613 shares of the communications equipment provider’s stock worth $405,000 after purchasing an additional 978 shares during the last quarter. 98.14% of the stock is currently owned by institutional investors and hedge funds.

Calix Stock Performance

CALX opened at $43.16 on Monday. The firm has a market cap of $2.80 billion, a P/E ratio of -95.91 and a beta of 1.38. The firm has a 50-day moving average of $35.76 and a 200 day moving average of $36.03. Calix, Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $43.54.

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

Calix declared that its Board of Directors has authorized a share repurchase program 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 stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

Insider Activity at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $39.59, for a total transaction of $989,750.00. Following the completion of the transaction, the director now owns 2,139,188 shares in the company, valued at $84,690,452.92. This trade represents a 1.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 16.90% of the stock is owned by company insiders.

Calix 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.