Calix, Inc. (NYSE:CALX) Short Interest Update

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

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $39.59, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 16.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Calix

A number of hedge funds and other institutional investors have recently bought and sold shares of CALX. Inspire Investing LLC increased its position in Calix by 143.0% during the 1st quarter. Inspire Investing LLC now owns 28,224 shares of the communications equipment provider's stock worth $1,000,000 after purchasing an additional 16,611 shares in the last quarter. Strs Ohio purchased a new position in shares of Calix during the 1st quarter valued at approximately $851,000. Acadian Asset Management LLC boosted its stake in shares of Calix by 60.1% during the 1st quarter. Acadian Asset Management LLC now owns 183,627 shares of the communications equipment provider's stock valued at $6,504,000 after buying an additional 68,937 shares during the last quarter. Intech Investment Management LLC lifted its stake in Calix by 26.8% during the first 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 during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Calix by 10.6% during the first 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 during the last quarter. Institutional investors and hedge funds own 98.14% of the company's stock.

Calix Trading Down 0.1%

CALX traded down $0.04 on Wednesday, hitting $47.24. 351,688 shares of the company's stock were exchanged, compared to its average volume of 687,548. Calix has a fifty-two week low of $28.61 and a fifty-two week high of $48.00. The firm has a 50-day moving average price of $40.15 and a 200-day moving average price of $37.48. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of -104.98 and a beta of 1.35.

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 for the quarter, beating the consensus estimate of $0.13 by $0.06. Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. The firm had revenue of $220.20 million for the quarter, compared to analysts' expectations of $206.98 million. During the same quarter in the previous year, the company posted $0.21 EPS. On average, equities analysts predict that Calix will post -0.43 EPS for the current year.

Calix announced that its Board of Directors has authorized a stock buyback program 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 programs are typically an indication that the company's board of directors believes its shares are 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.

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