Nuveen Asset Management LLC Has $15.09 Million Stake in Calix, Inc. (NYSE:CALX)

Nuveen Asset Management LLC lifted its holdings in shares of Calix, Inc. (NYSE:CALX - Free Report) by 7.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 432,623 shares of the communications equipment provider's stock after purchasing an additional 29,754 shares during the quarter. Nuveen Asset Management LLC owned 0.65% of Calix worth $15,086,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CALX. Vanguard Group Inc. increased its stake in Calix by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 7,977,769 shares of the communications equipment provider's stock valued at $278,185,000 after acquiring an additional 412,982 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Calix by 77.8% during the 4th quarter. Millennium Management LLC now owns 2,031,212 shares of the communications equipment provider's stock worth $70,828,000 after buying an additional 889,102 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Calix by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,832,407 shares of the communications equipment provider's stock worth $63,897,000 after buying an additional 74,720 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Calix by 3.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,373,246 shares of the communications equipment provider's stock valued at $47,885,000 after buying an additional 45,195 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Calix by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,337,709 shares of the communications equipment provider's stock valued at $46,657,000 after acquiring an additional 6,144 shares during the last quarter. 98.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Calix Trading Down 0.8%

Calix stock traded down $0.36 during mid-day trading on Wednesday, reaching $46.98. The company had a trading volume of 418,114 shares, compared to its average volume of 697,760. The company has a market cap of $3.05 billion, a P/E ratio of -104.41 and a beta of 1.38. The business has a fifty day simple moving average of $38.86 and a 200 day simple moving average of $36.86. Calix, Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $48.00.

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

Calix declared that its board has initiated a stock repurchase plan on Monday, April 21st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the communications equipment provider to buy up to 4.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Insider Transactions at Calix

In related news, Director Carl Russo sold 25,000 shares of the business's stock in a transaction 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 transaction, the director now owns 2,164,188 shares in the company, valued at $82,563,772.20. The trade was a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.90% of the stock is owned by company 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.