GAMMA Investing LLC Acquires 23,217 Shares of Calix, Inc (NYSE:CALX)

GAMMA Investing LLC boosted its position in Calix, Inc (NYSE:CALX - Free Report) by 4,397.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,745 shares of the communications equipment provider's stock after purchasing an additional 23,217 shares during the period. GAMMA Investing LLC's holdings in Calix were worth $842,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CALX. Smartleaf Asset Management LLC boosted its position in Calix by 367.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider's stock worth $28,000 after purchasing an additional 640 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Calix during the 4th quarter valued at about $84,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Calix during the 4th quarter valued at about $208,000. Summit Investment Advisors Inc. lifted its position in shares of Calix by 8.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,224 shares of the communications equipment provider's stock valued at $217,000 after buying an additional 465 shares in the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new position in shares of Calix during the 4th quarter valued at about $218,000. 98.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CALX has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $53.00 price objective on shares of Calix in a research report on Tuesday, April 22nd. Roth Capital set a $50.00 price objective on Calix and gave the company a "buy" rating in a research report on Tuesday, April 22nd. Rosenblatt Securities lifted their price objective on Calix from $52.00 to $56.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. JPMorgan Chase & Co. lifted their price objective on Calix from $34.00 to $38.00 and gave the company a "neutral" rating in a research report on Wednesday, April 23rd. Finally, UBS Group reaffirmed a "buy" rating on shares of Calix in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $48.50.

Insiders Place Their Bets

In other news, Director Carl Russo sold 25,000 shares of the company's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $39.59, for a total transaction of $989,750.00. Following the sale, the director now directly owns 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 16.90% of the company's stock.

Calix Stock Up 0.7%

NYSE CALX traded up $0.32 during trading hours on Friday, reaching $47.45. The company's stock had a trading volume of 1,006,588 shares, compared to its average volume of 689,451. The firm's 50-day moving average price is $43.56 and its 200-day moving average price is $38.79. Calix, Inc has a 1 year low of $28.61 and a 1 year high of $48.88. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of -91.24 and a beta of 1.35.

Calix (NYSE:CALX - Get Free Report) last posted 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. Calix had a negative return on equity of 4.14% and a negative net margin of 4.20%. The company had revenue of $220.20 million for the quarter, compared to analysts' expectations of $206.98 million. During the same period in the previous year, the firm earned $0.21 EPS. Equities research analysts anticipate that Calix, Inc will post -0.43 EPS for the current fiscal year.

Calix announced that its Board of Directors has initiated a stock buyback 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 purchase up to 4.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors 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.