Calix, Inc. (NYSE:CALX) Sees Large Growth in Short Interest

Calix, Inc. (NYSE:CALX - Get Free Report) was the target of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 2,590,000 shares, an increase of 17.2% from the April 30th total of 2,210,000 shares. Currently, 4.5% of the shares of the company are short sold. Based on an average daily volume of 890,100 shares, the short-interest ratio is presently 2.9 days.

Insider Buying and Selling

In other Calix news, Director Carl Russo sold 25,000 shares of Calix 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 completion of the transaction, the director now directly owns 2,139,188 shares of the company's stock, valued at $84,690,452.92. The trade was a 1.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 16.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Calix

Several large investors have recently made changes to their positions in the business. Inspire Investing LLC raised its holdings in Calix by 143.0% in the 1st quarter. Inspire Investing LLC now owns 28,224 shares of the communications equipment provider's stock worth $1,000,000 after acquiring an additional 16,611 shares during the last quarter. Strs Ohio bought a new position in Calix in the 1st quarter worth $851,000. Acadian Asset Management LLC boosted its holdings in Calix by 60.1% in the 1st quarter. Acadian Asset Management LLC now owns 183,627 shares of the communications equipment provider's stock worth $6,504,000 after buying an additional 68,937 shares during the period. Intech Investment Management LLC lifted its stake in Calix by 26.8% in the 1st quarter. Intech Investment Management LLC now owns 32,923 shares of the communications equipment provider's stock worth $1,167,000 after purchasing an additional 6,962 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Calix by 10.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 176,328 shares of the communications equipment provider's stock worth $6,249,000 after purchasing an additional 16,905 shares in the last quarter. 98.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Calix Price Performance

NYSE CALX traded up $0.56 during trading hours on Friday, reaching $48.09. 510,498 shares of the stock traded hands, compared to its average volume of 688,517. The stock has a 50 day simple moving average of $40.65 and a two-hundred day simple moving average of $37.80. Calix has a 1 year low of $28.61 and a 1 year high of $48.30. The company has a market cap of $3.12 billion, a price-to-earnings ratio of -106.86 and a beta of 1.35.

Calix (NYSE:CALX - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $220.20 million for the quarter, compared to the consensus estimate of $206.98 million. During the same quarter last year, the business posted $0.21 earnings per share. On average, sell-side analysts forecast that Calix will post -0.43 EPS for the current fiscal year.

Calix announced that its board has authorized a stock buyback 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 repurchase up to 4.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued.

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.