Connors Investor Services Inc. Acquires 21,433 Shares of Calix, Inc. (NYSE:CALX)

Connors Investor Services Inc. increased its position in Calix, Inc. (NYSE:CALX - Free Report) by 26.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 103,169 shares of the communications equipment provider's stock after purchasing an additional 21,433 shares during the quarter. Connors Investor Services Inc. owned approximately 0.16% of Calix worth $3,598,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new stake in Calix in the fourth quarter valued at about $512,000. HighTower Advisors LLC boosted its stake in shares of Calix by 30.5% in the 4th quarter. HighTower Advisors LLC now owns 118,245 shares of the communications equipment provider's stock valued at $4,123,000 after purchasing an additional 27,622 shares in the last quarter. Amundi bought a new stake in shares of Calix during the 4th quarter valued at approximately $330,000. Principal Financial Group Inc. increased its position in Calix by 3.8% during the 4th quarter. Principal Financial Group Inc. now owns 287,509 shares of the communications equipment provider's stock worth $10,025,000 after purchasing an additional 10,393 shares in the last quarter. Finally, TradeLink Capital LLC bought a new position in Calix in the 4th quarter valued at approximately $299,000. 98.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Calix Trading Down 0.1 %

NYSE:CALX traded down $0.04 on Monday, reaching $41.96. 129,664 shares of the stock traded hands, compared to its average volume of 806,885. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of -93.32 and a beta of 1.38. Calix, Inc. has a 12 month low of $28.60 and a 12 month high of $42.50. The company's fifty day simple moving average is $35.18 and its 200 day simple moving average is $35.88.

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, beating the consensus estimate of $0.13 by $0.06. The business had revenue of $220.20 million for 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 period last year, the business posted $0.21 EPS. Equities analysts anticipate that Calix, Inc. will post -0.43 EPS for the current fiscal year.

Calix declared that its board has authorized a share repurchase plan on Monday, April 21st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the communications equipment provider to buy up to 4.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

Insider Activity at Calix

In related news, Director Carl Russo sold 25,000 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 2,139,188 shares of the company's stock, valued at approximately $84,690,452.92. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 16.90% of the stock is owned by 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.