Aquatic Capital Management LLC Buys 7,096 Shares of Calix, Inc. (NYSE:CALX)

Aquatic Capital Management LLC boosted its holdings in shares of Calix, Inc. (NYSE:CALX - Free Report) by 51.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,896 shares of the communications equipment provider's stock after buying an additional 7,096 shares during the quarter. Aquatic Capital Management LLC's holdings in Calix were worth $729,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

CALX has been the subject of several recent analyst reports. Rosenblatt Securities raised their target price on Calix from $51.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. UBS Group reiterated a "buy" rating on shares of Calix in a research note on Tuesday, April 22nd. Needham & Company LLC reaffirmed a "buy" rating and set a $53.00 price objective on shares of Calix in a research report on Tuesday, April 22nd. Roth Capital set a $50.00 price objective on shares of Calix and gave the stock a "buy" rating in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. lifted their price target on Calix from $34.00 to $38.00 and gave the company a "neutral" 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, the stock has an average rating of "Moderate Buy" and an average target price of $47.83.

Calix Price Performance

NYSE CALX traded up $0.07 on Wednesday, reaching $41.95. The stock had a trading volume of 54,081 shares, compared to its average volume of 684,489. Calix, Inc. has a 1-year low of $28.61 and a 1-year high of $42.50. The company has a market cap of $2.72 billion, a P/E ratio of -93.34 and a beta of 1.38. The firm has a fifty day moving average of $35.35 and a two-hundred day moving average of $35.94.

Calix (NYSE:CALX - Get Free Report) last posted its earnings results on Monday, April 21st. The communications equipment provider reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.06. The firm had revenue of $220.20 million during the quarter, compared to analysts' expectations 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. Research analysts predict that Calix, Inc. will post -0.43 EPS for the current fiscal year.

Calix announced that its Board of Directors has approved a share buyback plan on Monday, April 21st that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the communications equipment provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

Insider Activity

In related news, Director Carl Russo sold 25,000 shares of Calix 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 sale, the director now owns 2,139,188 shares in the company, valued at $84,690,452.92. The trade was a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 16.90% of the stock is owned by company insiders.

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.