BNP Paribas Financial Markets Buys 25,800 Shares of Calix, Inc. (NYSE:CALX)

BNP Paribas Financial Markets boosted its holdings in Calix, Inc. (NYSE:CALX - Free Report) by 102.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,004 shares of the communications equipment provider's stock after buying an additional 25,800 shares during the period. BNP Paribas Financial Markets owned approximately 0.08% of Calix worth $1,779,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC grew 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 worth $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 4th quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider's stock valued at $54,000 after purchasing an additional 358 shares during the period. Quantbot Technologies LP bought a new stake in Calix in the 4th quarter valued at $84,000. KBC Group NV grew its position in Calix by 57.8% in the 4th quarter. KBC Group NV now owns 2,772 shares of the communications equipment provider's stock worth $97,000 after purchasing an additional 1,015 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of Calix during the 4th quarter worth about $208,000. 98.14% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $38.15, for a total value of $953,750.00. Following the completion of the transaction, the director now owns 2,164,188 shares in the company, valued at approximately $82,563,772.20. The trade was a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 16.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Calix Stock Performance

NYSE CALX traded down $0.14 during trading on Thursday, reaching $46.88. 258,471 shares of the company traded hands, compared to its average volume of 696,012. Calix, Inc. has a 1-year low of $28.61 and a 1-year high of $47.31. The company has a market cap of $3.04 billion, a price-to-earnings ratio of -104.20 and a beta of 1.38. The stock's 50 day moving average price is $37.87 and its two-hundred day moving average price is $36.51.

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 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 business had revenue of $220.20 million for the quarter, compared to analyst estimates of $206.98 million. During the same quarter in the previous year, the firm earned $0.21 EPS. Equities research analysts expect that Calix, Inc. will post -0.43 EPS for the current fiscal year.

Calix announced that its Board of Directors has authorized a share buyback plan on Monday, April 21st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the communications equipment provider to purchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its stock is undervalued.

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.