Mackenzie Financial Corp Purchases 6,287 Shares of Calix, Inc (NYSE:CALX)

Key Points

• Mackenzie Financial Corp increased its stake in Calix, Inc by 26.5%, owning nearly 30,000 shares valued at over $1 million.
• Significant insider transactions occurred, with CFO Cory Sindelar selling 10,000 shares for $560,000, reflecting an 11.59% decrease in his holdings.
• Calix reported earnings of $0.33 per share, exceeding estimates, with a 22.1% revenue increase compared to the same quarter last year.

Mackenzie Financial Corp raised its stake in shares of Calix, Inc (NYSE:CALX - Free Report) by 26.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,997 shares of the communications equipment provider's stock after purchasing an additional 6,287 shares during the period. Mackenzie Financial Corp's holdings in Calix were worth $1,063,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in Calix by 93.0% in the 4th quarter. JPMorgan Chase & Co. now owns 246,199 shares of the communications equipment provider's stock valued at $8,585,000 after acquiring an additional 118,629 shares in the last quarter. Norges Bank acquired a new position in shares of Calix in the fourth quarter valued at $11,518,000. Arrowstreet Capital Limited Partnership acquired a new stake in Calix during the fourth quarter worth $1,079,000. Wellington Management Group LLP increased its holdings in 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 buying an additional 1,135 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of Calix by 18.3% during the 4th quarter. Franklin Resources Inc. now owns 15,780 shares of the communications equipment provider's stock worth $550,000 after acquiring an additional 2,437 shares during the period. Institutional investors own 98.14% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on CALX. Rosenblatt Securities raised their price target on shares of Calix from $56.00 to $65.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Wolfe Research began coverage on Calix in a report on Monday, July 7th. They set a "peer perform" rating for the company. Needham & Company LLC boosted their target price on shares of Calix from $60.00 to $70.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. UBS Group reaffirmed a "buy" rating on shares of Calix in a report on Tuesday, April 22nd. Finally, Roth Capital set a $50.00 target price on shares of Calix and gave the stock a "buy" rating in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.25.

Calix Stock Down 0.3%

CALX stock traded down $0.15 during midday trading on Thursday, reaching $56.63. The company's stock had a trading volume of 787,619 shares, compared to its average volume of 769,274. Calix, Inc has a 52 week low of $28.60 and a 52 week high of $57.98. The stock has a market cap of $3.70 billion, a PE ratio of -141.58 and a beta of 1.27. The business's 50-day simple moving average is $51.35 and its 200-day simple moving average is $42.80.

Calix (NYSE:CALX - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The communications equipment provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.41. The firm had revenue of $241.90 million during 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 business's revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.09 earnings per share. As a group, equities 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 buyback program on Monday, April 21st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the communications equipment provider to repurchase up to 4.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $55.40, for a total value of $1,385,000.00. Following the completion of the sale, the director directly owned 2,114,188 shares in the company, valued at $117,126,015.20. This represents a 1.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Cory Sindelar sold 10,000 shares of Calix stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $56.00, for a total transaction of $560,000.00. Following the completion of the transaction, the chief financial officer directly owned 76,285 shares in the company, valued at approximately $4,271,960. The trade was a 11.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,000 shares of company stock worth $2,465,000 in the last ninety days. 16.90% of the stock is currently 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.