16,485 Shares in Calix, Inc. (NYSE:CALX) Acquired by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP bought a new position in shares of Calix, Inc. (NYSE:CALX - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 16,485 shares of the communications equipment provider's stock, valued at approximately $575,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pacer Advisors Inc. increased its holdings in Calix by 29.8% during the fourth quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider's stock worth $54,000 after buying an additional 358 shares during the last quarter. Summit Investment Advisors Inc. grew its position in shares of Calix by 8.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,224 shares of the communications equipment provider's stock valued at $217,000 after acquiring an additional 465 shares during the period. Atria Investments Inc increased its stake in shares of Calix by 7.1% during the 4th quarter. Atria Investments Inc now owns 7,120 shares of the communications equipment provider's stock worth $248,000 after purchasing an additional 469 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Calix by 367.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider's stock worth $28,000 after purchasing an additional 640 shares during the period. Finally, Inspire Investing LLC lifted its stake in Calix by 9.2% in the fourth quarter. Inspire Investing LLC now owns 11,613 shares of the communications equipment provider's stock valued at $405,000 after purchasing an additional 978 shares during the last quarter. 98.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CALX has been the subject of a number of recent research reports. Needham & Company LLC reissued a "buy" rating and issued a $53.00 target price on shares of Calix in a research report on Tuesday, April 22nd. Rosenblatt Securities increased their price target on Calix from $51.00 to $52.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Roth Capital set a $50.00 price objective on Calix and gave the stock a "buy" rating in a report on Tuesday, April 22nd. JPMorgan Chase & Co. upped their price objective on shares of Calix from $34.00 to $38.00 and gave the company a "neutral" rating in a report on Wednesday, April 23rd. Finally, UBS Group reiterated a "buy" rating on shares of Calix in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, Calix presently has a consensus rating of "Moderate Buy" and an average price target of $47.83.

Calix Trading Down 0.0%

Shares of NYSE CALX traded down $0.01 during mid-day trading on Tuesday, hitting $46.17. The company had a trading volume of 150,481 shares, compared to its average volume of 793,267. Calix, Inc. has a 1 year low of $28.60 and a 1 year high of $46.51. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of -102.60 and a beta of 1.38. The stock's 50-day moving average price is $37.30 and its 200-day moving average price is $36.37.

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

Calix declared that its board has approved a stock buyback 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 purchase up to 4.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In other news, Director Carl Russo sold 25,000 shares of the company's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $39.59, for a total value of $989,750.00. Following the transaction, the director now owns 2,139,188 shares of the company's stock, valued at approximately $84,690,452.92. This represents a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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.