Epoch Investment Partners Inc. Sells 76,104 Shares of Calix, Inc. (NYSE:CALX)

Epoch Investment Partners Inc. cut its position in Calix, Inc. (NYSE:CALX - Free Report) by 8.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 790,320 shares of the communications equipment provider's stock after selling 76,104 shares during the period. Epoch Investment Partners Inc. owned approximately 1.19% of Calix worth $27,558,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its holdings in shares of Calix by 367.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider's stock valued at $28,000 after acquiring an additional 640 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Calix by 29.8% in the fourth quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider's stock worth $54,000 after purchasing an additional 358 shares during the last quarter. Quantbot Technologies LP bought a new stake in Calix in the 4th quarter worth approximately $84,000. FMR LLC raised its stake in Calix by 49.0% during the 3rd quarter. FMR LLC now owns 2,398 shares of the communications equipment provider's stock valued at $93,000 after buying an additional 789 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of 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 buying an additional 1,015 shares during the period. Institutional investors own 98.14% of the company's stock.

Calix Stock Performance

CALX traded up $1.47 during trading on Friday, reaching $40.52. 436,575 shares of the company traded hands, compared to its average volume of 677,465. Calix, Inc. has a 12-month low of $27.20 and a 12-month high of $42.50. The firm has a fifty day simple moving average of $34.97 and a 200 day simple moving average of $35.81. The company has a market cap of $2.70 billion, a P/E ratio of -89.72 and a beta of 1.75.

Calix (NYSE:CALX - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The communications equipment provider reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.06. The company had revenue of $220.20 million during the quarter, compared to analyst estimates of $206.98 million. Calix had a negative return on equity of 3.43% and a negative net margin of 3.58%. During the same period in the prior year, the company earned $0.21 earnings per share. As a group, sell-side analysts expect that Calix, Inc. will post -0.43 earnings per share for the current fiscal year.

Calix announced that its Board of Directors has initiated a share repurchase program on Monday, April 21st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the communications equipment provider to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CALX shares. Rosenblatt Securities raised their target price on Calix from $51.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday. Roth Capital set a $50.00 price objective on shares of Calix and gave the stock a "buy" rating in a report on Tuesday. JPMorgan Chase & Co. upped 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. Needham & Company LLC reiterated a "buy" rating and set a $53.00 price target on shares of Calix in a research note on Tuesday. Finally, UBS Group reaffirmed a "buy" rating on shares of Calix in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.29.

Insider Activity at Calix

In other news, Director Carl Russo sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $38.15, for a total value of $953,750.00. Following the completion of the sale, the director now directly owns 2,164,188 shares of the company's stock, valued at $82,563,772.20. This trade represents a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 16.90% of the stock is owned by insiders.

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.