Kornitzer Capital Management Inc. KS Has $557,000 Position in Calix, Inc (NYSE:CALX)

Kornitzer Capital Management Inc. KS decreased its position in shares of Calix, Inc (NYSE:CALX - Free Report) by 95.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,705 shares of the communications equipment provider's stock after selling 358,021 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Calix were worth $557,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Calix by 8.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 649,244 shares of the communications equipment provider's stock worth $22,639,000 after purchasing an additional 48,098 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Calix by 14.1% in the 4th quarter. Victory Capital Management Inc. now owns 23,324 shares of the communications equipment provider's stock valued at $813,000 after purchasing an additional 2,888 shares during the last quarter. Atria Investments Inc raised its stake in shares of Calix by 7.1% during the fourth quarter. Atria Investments Inc now owns 7,120 shares of the communications equipment provider's stock valued at $248,000 after acquiring an additional 469 shares during the last quarter. Amundi bought a new position in Calix during the fourth quarter worth $330,000. Finally, HighTower Advisors LLC grew its holdings in Calix by 30.5% in the fourth quarter. HighTower Advisors LLC now owns 118,245 shares of the communications equipment provider's stock worth $4,123,000 after purchasing an additional 27,622 shares during the period. Institutional investors and hedge funds own 98.14% of the company's stock.

Analyst Upgrades and Downgrades

CALX has been the topic of several research reports. UBS Group reissued a "buy" rating on shares of Calix in a research report on Tuesday, April 22nd. Wolfe Research started coverage on shares of Calix in a research note on Monday, July 7th. They issued a "peer perform" rating for the company. Needham & Company LLC restated a "buy" rating and set a $53.00 target price on shares of Calix in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Calix from $38.00 to $52.00 and gave the company a "neutral" rating in a research report on Thursday. Finally, Roth Capital set a $50.00 target price on shares of Calix and gave the stock a "buy" rating in a report on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $50.83.

Insider Activity at Calix

In other news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction on Monday, April 28th. The shares were sold at an average price of $39.59, for a total value of $989,750.00. Following the transaction, the director directly owned 2,139,188 shares of the company's stock, valued at $84,690,452.92. The trade was a 1.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Cory Sindelar sold 10,000 shares of the business's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $52.00, for a total transaction of $520,000.00. Following the sale, the chief financial officer owned 76,285 shares in the company, valued at $3,966,820. The trade was 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 currently owned by insiders.

Calix Trading Up 1.5%

Shares of CALX traded up $0.77 on Friday, reaching $53.73. The company's stock had a trading volume of 991,799 shares, compared to its average volume of 695,389. The firm has a fifty day moving average of $48.75 and a 200-day moving average of $41.10. Calix, Inc has a twelve month low of $28.61 and a twelve month high of $54.27. The stock has a market capitalization of $3.48 billion, a PE ratio of -103.33 and a beta of 1.37.

Calix (NYSE:CALX - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.06. The firm had revenue of $220.20 million during the quarter, compared to the consensus estimate of $206.98 million. Calix had a negative return on equity of 4.14% and a negative net margin of 4.20%. During the same period last year, the company earned $0.21 earnings per share. As a group, equities analysts anticipate that Calix, Inc will post -0.43 EPS for the current fiscal year.

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