Assenagon Asset Management S.A. Raises Position in Calix, Inc. (NYSE:CALX)

Assenagon Asset Management S.A. lifted its holdings in shares of Calix, Inc. (NYSE:CALX - Free Report) by 8.8% in the first quarter, according to its most recent 13F filing with the 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 about 0.60% of Calix worth $14,256,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of CALX. SG Americas Securities LLC grew its position in Calix by 159.6% during the 1st quarter. SG Americas Securities LLC now owns 29,128 shares of the communications equipment provider's stock worth $1,032,000 after acquiring an additional 17,907 shares during the last quarter. Portside Wealth Group LLC grew its position in Calix by 8.0% during the 1st quarter. Portside Wealth Group LLC now owns 8,414 shares of the communications equipment provider's stock worth $298,000 after acquiring an additional 621 shares during the last quarter. Congress Asset Management Co. grew its position in Calix by 8.1% during the 1st quarter. Congress Asset Management Co. now owns 1,378,497 shares of the communications equipment provider's stock worth $48,854,000 after acquiring an additional 103,175 shares during the last quarter. LVW Advisors LLC bought a new stake in Calix during the 1st quarter worth $226,000. Finally, GAMMA Investing LLC grew its position in Calix by 4,397.2% during the 1st quarter. GAMMA Investing LLC now owns 23,745 shares of the communications equipment provider's stock worth $842,000 after acquiring an additional 23,217 shares during the last quarter. Institutional investors and hedge funds own 98.14% of the company's stock.

Insider Activity at Calix

In related news, Director Carl Russo sold 25,000 shares of the company's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $39.59, for a total transaction of $989,750.00. Following the sale, the director now owns 2,139,188 shares in the company, valued at $84,690,452.92. This represents a 1.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 16.90% of the stock is owned by corporate insiders.

Calix Stock Down 2.1%

Shares of NYSE CALX traded down $1.03 during trading on Friday, reaching $47.17. The company had a trading volume of 378,057 shares, compared to its average volume of 688,323. Calix, Inc. has a 12 month low of $28.61 and a 12 month high of $48.88. The company's fifty day moving average price is $42.20 and its 200-day moving average price is $38.29. The stock has a market cap of $3.06 billion, a P/E ratio of -104.82 and a beta of 1.35.

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

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on CALX. Needham & Company LLC restated a "buy" rating and set a $53.00 price objective on shares of Calix in a research report on Tuesday, April 22nd. UBS Group reiterated a "buy" rating on shares of Calix in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. upped their price target on Calix from $34.00 to $38.00 and gave the company a "neutral" rating in a research report on Wednesday, April 23rd. Rosenblatt Securities upped their price target on Calix from $52.00 to $56.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Roth Capital set a $50.00 price target on Calix and gave the company a "buy" rating in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Calix has an average rating of "Moderate Buy" and a consensus price target of $48.50.

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.