New York State Common Retirement Fund Grows Stake in Calix, Inc (NYSE:CALX)

New York State Common Retirement Fund boosted its position in Calix, Inc (NYSE:CALX - Free Report) by 332.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 286,719 shares of the communications equipment provider's stock after purchasing an additional 220,491 shares during the quarter. New York State Common Retirement Fund owned about 0.44% of Calix worth $10,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of CALX. Summit Investment Advisors Inc. lifted its position in Calix by 8.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,224 shares of the communications equipment provider's stock worth $217,000 after buying an additional 465 shares during the last quarter. Portside Wealth Group LLC raised its stake in shares of Calix by 8.0% during the first 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 in the last quarter. OV Management LLC lifted its holdings in shares of Calix by 0.8% in the 4th quarter. OV Management LLC now owns 139,603 shares of the communications equipment provider's stock worth $4,868,000 after acquiring an additional 1,094 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Calix by 0.6% in the 4th quarter. Wellington Management Group LLP now owns 202,274 shares of the communications equipment provider's stock valued at $7,053,000 after purchasing an additional 1,135 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of Calix by 1.1% during the 4th quarter. Swiss National Bank now owns 116,500 shares of the communications equipment provider's stock valued at $4,062,000 after purchasing an additional 1,300 shares during the last quarter. 98.14% of the stock is owned by institutional investors.

Calix Stock Performance

Shares of CALX traded up $1.81 on Tuesday, reaching $55.54. The stock had a trading volume of 2,697,451 shares, compared to its average volume of 702,810. Calix, Inc has a 12-month low of $28.61 and a 12-month high of $55.95. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of -138.86 and a beta of 1.37. The company has a 50-day simple moving average of $48.75 and a 200-day simple moving average of $41.15.

Calix (NYSE:CALX - Get Free Report) last announced its earnings results on Monday, July 21st. The communications equipment provider reported $0.33 EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.41. The firm had revenue of $241.90 million for the quarter, compared to analysts' expectations of $223.81 million. Calix had a negative net margin of 3.09% and a negative return on equity of 3.21%. The company's quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.09 EPS. On average, analysts expect that Calix, Inc will post -0.43 EPS for the current fiscal year.

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

Analyst Ratings Changes

CALX has been the topic of several analyst reports. UBS Group reiterated a "buy" rating on shares of Calix in a report on Tuesday, April 22nd. Wolfe Research initiated coverage on shares of Calix in a report on Monday, July 7th. They issued a "peer perform" rating on the stock. Wall Street Zen lowered shares of Calix from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Roth Capital set a $50.00 price target on shares of Calix and gave the stock a "buy" rating in a report on Tuesday, April 22nd. Finally, Needham & Company LLC boosted their price objective on shares of Calix from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $55.17.

Insider Buying and Selling

In other news, Director Carl Russo sold 25,000 shares of the company'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 completion of the sale, the director directly owned 2,139,188 shares in the company, valued at $84,690,452.92. This represents a 1.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Cory Sindelar sold 10,000 shares of the business's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $52.00, for a total value of $520,000.00. Following the sale, the chief financial officer directly owned 76,285 shares of the company's stock, valued at $3,966,820. This represents a 11.59% decrease in their position. The disclosure for this sale can be found here. Insiders own 16.90% of the company's stock.

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.