Connors Investor Services Inc. Grows Stake in Calix, Inc. (NYSE:CALX)

Connors Investor Services Inc. grew its holdings in shares of Calix, Inc. (NYSE:CALX - Free Report) by 26.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 103,169 shares of the communications equipment provider's stock after acquiring an additional 21,433 shares during the quarter. Connors Investor Services Inc. owned 0.16% of Calix worth $3,598,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CALX. Smartleaf Asset Management LLC grew its holdings in shares of Calix by 367.8% in the fourth 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 last quarter. Pacer Advisors Inc. lifted its holdings in Calix by 29.8% in the 4th 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 period. Quantbot Technologies LP bought a new stake in shares of Calix in the 4th quarter worth approximately $84,000. KBC Group NV increased its stake in shares of Calix by 57.8% during the fourth quarter. KBC Group NV now owns 2,772 shares of the communications equipment provider's stock valued at $97,000 after buying an additional 1,015 shares during the period. Finally, Summit Investment Advisors Inc. raised its holdings in shares of Calix by 8.1% during the fourth 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 in the last quarter. 98.14% of the stock is owned by hedge funds and other institutional investors.

Calix Trading Up 1.7 %

NYSE:CALX traded up $0.70 during trading hours on Friday, reaching $42.01. 808,821 shares of the company traded hands, compared to its average volume of 684,460. Calix, Inc. has a 1 year low of $28.61 and a 1 year high of $42.50. The stock has a market capitalization of $2.72 billion, a P/E ratio of -93.35 and a beta of 1.75. The business's 50-day moving average price is $35.18 and its two-hundred day moving average price is $35.93.

Calix (NYSE:CALX - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.06. The company had revenue of $220.20 million for 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 previous year, the business posted $0.21 EPS. As a group, equities analysts anticipate that Calix, Inc. will post -0.43 EPS for the current year.

Calix declared that its board has authorized a stock repurchase plan on Monday, April 21st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the communications equipment provider to repurchase up to 4.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its shares are undervalued.

Insider Activity at Calix

In related news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction dated 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. This trade represents a 1.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

Calix Company 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.