Calix, Inc (NYSE:CALX) Stake Boosted by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its holdings in shares of Calix, Inc (NYSE:CALX - Free Report) by 8.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 402,248 shares of the communications equipment provider's stock after buying an additional 32,610 shares during the period. Assenagon Asset Management S.A. owned approximately 0.60% of Calix worth $14,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd purchased a new position in Calix during the fourth quarter worth approximately $512,000. HighTower Advisors LLC boosted its position in Calix by 30.5% during the fourth quarter. HighTower Advisors LLC now owns 118,245 shares of the communications equipment provider's stock worth $4,123,000 after purchasing an additional 27,622 shares in the last quarter. Amundi purchased a new position in Calix during the fourth quarter worth approximately $330,000. Principal Financial Group Inc. boosted its position in Calix by 3.8% during the fourth quarter. Principal Financial Group Inc. now owns 287,509 shares of the communications equipment provider's stock worth $10,025,000 after purchasing an additional 10,393 shares in the last quarter. Finally, TradeLink Capital LLC purchased a new position in Calix during the fourth quarter worth approximately $299,000. 98.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Carl Russo sold 25,000 shares of the firm'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 directly owns 2,139,188 shares in the company, valued at $84,690,452.92. This trade represents a 1.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 16.90% of the stock is currently owned by company insiders.

Calix Trading Down 1.9%

Shares of Calix stock traded down $0.90 during trading hours on Tuesday, hitting $46.82. 750,601 shares of the company were exchanged, compared to its average volume of 688,713. Calix, Inc has a 1 year low of $28.61 and a 1 year high of $48.88. The business has a 50-day moving average of $42.77 and a 200-day moving average of $38.50. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of -90.04 and a beta of 1.35.

Calix (NYSE:CALX - Get Free Report) last posted its 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. The company had revenue of $220.20 million for the quarter, compared to analyst estimates of $206.98 million. Calix had a negative return on equity of 4.14% and a negative net margin of 4.20%. During the same quarter in the prior year, the company earned $0.21 earnings per share. As a group, research analysts anticipate that Calix, Inc will post -0.43 earnings per share for the current fiscal year.

Calix announced that its board has authorized a share repurchase 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 buy up to 4.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

CALX has been the topic of a number of recent analyst reports. UBS Group reiterated a "buy" rating on shares of Calix in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. increased their price target on Calix from $34.00 to $38.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 23rd. Roth Capital set a $50.00 price target on Calix and gave the stock a "buy" rating in a research report on Tuesday, April 22nd. Rosenblatt Securities raised their target price on Calix from $52.00 to $56.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. Finally, Needham & Company LLC restated a "buy" rating and issued a $53.00 target price on shares of Calix in a research report on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Calix currently has an average rating of "Moderate Buy" and an average price target of $48.50.

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.