Divisadero Street Capital Management LP Buys Shares of 154,742 Calix, Inc. (NYSE:CALX)

Divisadero Street Capital Management LP bought a new position in Calix, Inc. (NYSE:CALX - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 154,742 shares of the communications equipment provider's stock, valued at approximately $5,396,000. Divisadero Street Capital Management LP owned approximately 0.23% of Calix as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CALX. Smartleaf Asset Management LLC lifted its stake 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 valued at $28,000 after buying an additional 640 shares in the last quarter. Pacer Advisors Inc. lifted its position in Calix by 29.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider's stock valued at $54,000 after acquiring an additional 358 shares in the last quarter. Quantbot Technologies LP bought a new position in Calix in the 4th quarter valued at about $84,000. KBC Group NV boosted its stake in Calix by 57.8% during the 4th quarter. KBC Group NV now owns 2,772 shares of the communications equipment provider's stock valued at $97,000 after purchasing an additional 1,015 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new stake in Calix during the 4th quarter worth approximately $208,000. Institutional investors and hedge funds own 98.14% of the company's stock.

Insider Buying and Selling at Calix

In related news, Director Carl Russo sold 25,000 shares of the company'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 sale, the director now directly owns 2,164,188 shares in the company, valued at approximately $82,563,772.20. This represents a 1.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 16.90% of the company's stock.

Calix Stock Up 1.2 %

NYSE CALX traded up $0.51 during trading hours on Friday, reaching $43.16. 638,980 shares of the company were exchanged, compared to its average volume of 688,880. The stock has a market capitalization of $2.80 billion, a P/E ratio of -95.91 and a beta of 1.38. Calix, Inc. has a 1 year low of $28.61 and a 1 year high of $43.54. The business's 50 day simple moving average is $35.76 and its 200-day simple moving average is $36.05.

Calix (NYSE:CALX - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, topping 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 company had revenue of $220.20 million during the quarter, compared to analyst estimates of $206.98 million. During the same quarter last year, the business posted $0.21 EPS. As a group, sell-side analysts anticipate that Calix, Inc. will post -0.43 earnings per share for the current year.

Calix announced that its board has initiated a stock repurchase program 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 reacquire up to 4.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

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

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.