Bank of America Corp DE Has $10.15 Million Stock Holdings in Calix, Inc. (NYSE:CALX)

Bank of America Corp DE cut its holdings in shares of Calix, Inc. (NYSE:CALX - Free Report) by 17.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 290,925 shares of the communications equipment provider's stock after selling 63,109 shares during the quarter. Bank of America Corp DE owned 0.44% of Calix worth $10,145,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Barclays PLC lifted its holdings in shares of Calix by 184.0% during the 3rd quarter. Barclays PLC now owns 113,579 shares of the communications equipment provider's stock valued at $4,404,000 after buying an additional 73,588 shares during the last quarter. SG Americas Securities LLC bought a new position in Calix in the 4th quarter worth approximately $391,000. Inspire Investing LLC increased its position in Calix by 9.2% in the 4th quarter. Inspire Investing LLC now owns 11,613 shares of the communications equipment provider's stock worth $405,000 after buying an additional 978 shares during the period. KBC Group NV increased 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 buying an additional 1,015 shares during the period. Finally, Pacer Advisors Inc. increased its position in Calix by 29.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider's stock worth $54,000 after buying an additional 358 shares during the period. 98.14% of the stock is currently owned by institutional investors and hedge funds.

Calix Price Performance

Shares of CALX traded down $0.07 on Wednesday, reaching $47.27. 139,340 shares of the stock traded hands, compared to its average volume of 696,705. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of -105.31 and a beta of 1.38. Calix, Inc. has a 12 month low of $28.61 and a 12 month high of $48.00. The stock's 50-day moving average price is $38.86 and its 200-day moving average price is $36.86.

Calix (NYSE:CALX - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.06. The business had revenue of $220.20 million for the quarter, compared to analysts' expectations 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 previous year, the business posted $0.21 earnings per share. As a group, equities research analysts forecast that Calix, Inc. will post -0.43 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

Several research analysts have commented on CALX shares. Rosenblatt Securities lifted their price target on Calix from $51.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. UBS Group reaffirmed a "buy" rating on shares of Calix in a research report on Tuesday, April 22nd. 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. JPMorgan Chase & Co. lifted 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. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $53.00 price target 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 assigned a buy rating to the stock. Based on data from MarketBeat, Calix presently has an average rating of "Moderate Buy" and an average target price of $47.83.

Insider Activity at Calix

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

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.