Calix, Inc. (NYSE:CALX) Shares Purchased by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. increased its position in shares of Calix, Inc. (NYSE:CALX - Free Report) by 8.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 607,500 shares of the communications equipment provider's stock after purchasing an additional 47,200 shares during the period. Polar Asset Management Partners Inc. owned 0.92% of Calix worth $21,184,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Millennium Management LLC lifted its stake in shares of Calix by 77.8% in the fourth quarter. Millennium Management LLC now owns 2,031,212 shares of the communications equipment provider's stock valued at $70,828,000 after purchasing an additional 889,102 shares during the period. Vanguard Group Inc. boosted its holdings in Calix by 5.5% in the 4th quarter. Vanguard Group Inc. now owns 7,977,769 shares of the communications equipment provider's stock worth $278,185,000 after acquiring an additional 412,982 shares during the period. Balyasny Asset Management L.P. boosted its stake in shares of Calix by 711.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 436,036 shares of the communications equipment provider's stock valued at $15,205,000 after buying an additional 382,301 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Calix by 105.7% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 708,723 shares of the communications equipment provider's stock worth $24,713,000 after purchasing an additional 364,209 shares during the last quarter. Finally, Norges Bank bought a new position in Calix during the 4th quarter worth $11,518,000. Institutional investors and hedge funds own 98.14% of the company's stock.

Calix Stock Performance

CALX stock opened at $44.76 on Thursday. The company has a market capitalization of $2.90 billion, a PE ratio of -99.46 and a beta of 1.38. Calix, Inc. has a one year low of $28.61 and a one year high of $45.38. The company's fifty day moving average price is $36.44 and its 200-day moving average price is $36.19.

Calix (NYSE:CALX - Get Free Report) last released its quarterly 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. Calix had a negative return on equity of 3.43% and a negative net margin of 3.58%. The firm had revenue of $220.20 million during the quarter, compared to analyst estimates of $206.98 million. During the same period in the previous year, the company posted $0.21 EPS. On average, research analysts predict that Calix, Inc. will post -0.43 EPS for the current fiscal year.

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

Insider Transactions at Calix

In other news, Director Carl Russo sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $38.15, for a total transaction of $953,750.00. Following the transaction, the director now directly owns 2,164,188 shares in the company, valued at approximately $82,563,772.20. This trade represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 16.90% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Rosenblatt Securities boosted 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. UBS Group reaffirmed a "buy" rating on shares of Calix in a report on Tuesday, April 22nd. Needham & Company LLC reissued 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 company a "buy" rating in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Calix from $34.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $47.83.

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.

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