Balyasny Asset Management L.P. Buys 382,301 Shares of Calix, Inc. (NYSE:CALX)

Balyasny Asset Management L.P. raised its position in Calix, Inc. (NYSE:CALX - Free Report) by 711.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 436,036 shares of the communications equipment provider's stock after buying an additional 382,301 shares during the period. Balyasny Asset Management L.P. owned approximately 0.66% of Calix worth $15,205,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 412,982 shares during the last quarter. Norges Bank bought a new stake in Calix in the fourth quarter valued at about $11,518,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Calix by 2,741.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 266,197 shares of the communications equipment provider's stock valued at $9,282,000 after buying an additional 256,829 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in Calix by 57.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 644,984 shares of the communications equipment provider's stock worth $22,490,000 after buying an additional 234,521 shares during the last quarter. Finally, Divisar Capital Management LLC grew its position in shares of Calix by 32.6% in the 4th quarter. Divisar Capital Management LLC now owns 594,357 shares of the communications equipment provider's stock worth $20,725,000 after acquiring an additional 146,249 shares in the last quarter. 98.14% of the stock is currently owned by institutional investors and hedge funds.

Calix Price Performance

Calix stock traded up $0.51 during mid-day trading on Friday, hitting $43.16. The company's stock had a trading volume of 638,980 shares, compared to its average volume of 689,959. Calix, Inc. has a 52-week low of $28.61 and a 52-week high of $43.54. The firm's 50 day moving average is $35.76 and its 200 day moving average is $36.03. The company has a market cap of $2.80 billion, a PE ratio of -95.91 and a beta of 1.38.

Calix (NYSE:CALX - Get Free Report) last posted 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. The business had revenue of $220.20 million during 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 period last year, the company posted $0.21 earnings per share. As a group, analysts forecast that Calix, Inc. will post -0.43 EPS for the current year.

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

Insider Activity

In other Calix news, Director Carl Russo sold 25,000 shares of the business's 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 transaction, the director now owns 2,139,188 shares in the company, valued at $84,690,452.92. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 16.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Needham & Company LLC reissued a "buy" rating and set a $53.00 target price on shares of Calix in a report on Tuesday, April 22nd. UBS Group reiterated a "buy" rating on shares of Calix in a research note on Tuesday, April 22nd. Roth Capital set a $50.00 target price on Calix and gave the company a "buy" rating in a research note on Tuesday, April 22nd. Rosenblatt Securities increased their price target on Calix from $51.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. raised their price target on Calix from $34.00 to $38.00 and gave the stock a "neutral" rating in a 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 stock. According to data from MarketBeat.com, Calix presently has a consensus rating of "Moderate Buy" and an average 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.