New York State Common Retirement Fund Has $10.16 Million Stock Holdings in Calix, Inc (NYSE:CALX)

New York State Common Retirement Fund grew its stake in shares of Calix, Inc (NYSE:CALX - Free Report) by 332.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 286,719 shares of the communications equipment provider's stock after buying an additional 220,491 shares during the period. New York State Common Retirement Fund owned 0.44% of Calix worth $10,161,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CALX. Millennium Management LLC lifted its stake in Calix by 77.8% during the fourth quarter. Millennium Management LLC now owns 2,031,212 shares of the communications equipment provider's stock valued at $70,828,000 after purchasing an additional 889,102 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Calix by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 7,977,769 shares of the communications equipment provider's stock worth $278,185,000 after purchasing an additional 412,982 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in shares of Calix by 711.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 436,036 shares of the communications equipment provider's stock worth $15,205,000 after purchasing an additional 382,301 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Calix by 105.7% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 708,723 shares of the communications equipment provider's stock valued at $24,713,000 after buying an additional 364,209 shares during the last quarter. Finally, Norges Bank acquired a new stake in Calix in the 4th quarter worth $11,518,000. Institutional investors and hedge funds own 98.14% of the company's stock.

Calix Stock Performance

Shares of CALX traded up $0.84 during trading hours on Tuesday, hitting $54.57. 579,588 shares of the stock were exchanged, compared to its average volume of 697,692. The stock's 50-day moving average price is $48.75 and its two-hundred day moving average price is $41.15. The company has a market cap of $3.54 billion, a price-to-earnings ratio of -103.28 and a beta of 1.37. Calix, Inc has a 12-month low of $28.61 and a 12-month high of $55.95.

Calix (NYSE:CALX - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The communications equipment provider reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of ($0.08) by $0.41. The company had revenue of $241.90 million during the quarter, compared to analysts' expectations of $223.81 million. Calix had a negative return on equity of 4.14% and a negative net margin of 4.20%. The firm's revenue for the quarter was up 22.1% on a year-over-year basis. During the same period last year, the firm earned $0.09 EPS. On average, research analysts expect that Calix, Inc will post -0.43 earnings per share for the current year.

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wall Street Zen lowered shares of Calix from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Rosenblatt Securities increased their price objective on shares of Calix from $56.00 to $65.00 and gave the stock a "buy" rating in a research note on Tuesday. UBS Group restated a "buy" rating on shares of Calix in a research note on Tuesday, April 22nd. Needham & Company LLC restated a "buy" rating and set a $53.00 price target on shares of Calix in a report on Tuesday, April 22nd. Finally, Wolfe Research assumed coverage on shares of Calix in a research note on Monday, July 7th. They set a "peer perform" rating for the company. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $52.33.

Insider Activity

In related news, Director Carl Russo sold 25,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 2,139,188 shares of the company's stock, valued at $84,690,452.92. This represents a 1.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Cory Sindelar sold 10,000 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $52.00, for a total value of $520,000.00. Following the completion of the sale, the chief financial officer owned 76,285 shares of the company's stock, valued at $3,966,820. This trade represents a 11.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.