Divisadero Street Capital Management LP Buys New Position in Calix, Inc. (NYSE:CALX)

Divisadero Street Capital Management LP purchased a new stake in Calix, Inc. (NYSE:CALX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 154,742 shares of the communications equipment provider's stock, valued at approximately $5,396,000. Divisadero Street Capital Management LP owned 0.23% of Calix at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CALX. Pacer Advisors Inc. increased its stake in Calix by 29.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider's stock worth $54,000 after acquiring an additional 358 shares during the period. Summit Investment Advisors Inc. increased its position in shares of Calix by 8.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,224 shares of the communications equipment provider's stock worth $217,000 after purchasing an additional 465 shares during the period. Atria Investments Inc raised its stake in Calix by 7.1% in the fourth quarter. Atria Investments Inc now owns 7,120 shares of the communications equipment provider's stock valued at $248,000 after purchasing an additional 469 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Calix by 367.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider's stock worth $28,000 after purchasing an additional 640 shares during the period. Finally, Inspire Investing LLC lifted its position in Calix by 9.2% during the fourth quarter. Inspire Investing LLC now owns 11,613 shares of the communications equipment provider's stock worth $405,000 after purchasing an additional 978 shares during the period. Institutional investors and hedge funds own 98.14% of the company's stock.

Wall Street Analyst Weigh In

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

Calix Stock Performance

Shares of Calix stock traded up $0.81 on Monday, hitting $43.99. The stock had a trading volume of 267,318 shares, compared to its average volume of 688,367. The stock has a 50 day moving average of $35.76 and a 200 day moving average of $36.03. Calix, Inc. has a twelve month low of $28.61 and a twelve month high of $44.85. The firm has a market capitalization of $2.85 billion, a P/E ratio of -97.71 and a beta of 1.38.

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 (EPS) 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 during the quarter, compared to the consensus estimate of $206.98 million. During the same quarter last year, the firm earned $0.21 earnings per share. Equities analysts expect that Calix, Inc. will post -0.43 earnings per share for the current year.

Calix declared that its Board of Directors has authorized a share repurchase program on Monday, April 21st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the communications equipment provider to buy up to 4.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the firm's 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 owns 2,139,188 shares in the company, valued at approximately $84,690,452.92. This trade represents a 1.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 16.90% of the company's stock.

Calix Company 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.