GAMMA Investing LLC boosted its holdings in Calix, Inc (NYSE:CALX - Free Report) by 4,397.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,745 shares of the communications equipment provider's stock after purchasing an additional 23,217 shares during the quarter. GAMMA Investing LLC's holdings in Calix were worth $842,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Calix in the 4th quarter valued at approximately $512,000. HighTower Advisors LLC raised its position in shares of Calix by 30.5% in the 4th quarter. HighTower Advisors LLC now owns 118,245 shares of the communications equipment provider's stock valued at $4,123,000 after buying an additional 27,622 shares in the last quarter. Amundi acquired a new position in shares of Calix in the 4th quarter valued at approximately $330,000. Principal Financial Group Inc. raised its position in shares of Calix by 3.8% in the 4th quarter. Principal Financial Group Inc. now owns 287,509 shares of the communications equipment provider's stock valued at $10,025,000 after buying an additional 10,393 shares in the last quarter. Finally, TradeLink Capital LLC acquired a new position in shares of Calix in the 4th quarter valued at approximately $299,000. 98.14% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $53.00 price target on shares of Calix in a report on Tuesday, April 22nd. UBS Group reaffirmed a "buy" rating on shares of Calix in a report on Tuesday, April 22nd. Roth Capital set a $50.00 price target on shares of Calix and gave the company a "buy" rating in a report on Tuesday, April 22nd. Rosenblatt Securities lifted their price target on shares of Calix from $52.00 to $56.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Calix from $34.00 to $38.00 and gave the company a "neutral" rating in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.50.
View Our Latest Stock Report on Calix
Insiders Place Their Bets
In other news, Director Carl Russo sold 25,000 shares of the business's stock in a transaction that occurred 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 now owns 2,139,188 shares in the company, valued at approximately $84,690,452.92. The trade was a 1.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 16.90% of the company's stock.
Calix Trading Up 0.6%
CALX traded up $0.30 during trading on Thursday, reaching $47.12. 463,787 shares of the company's stock were exchanged, compared to its average volume of 688,882. Calix, Inc has a one year low of $28.61 and a one year high of $48.88. The stock has a market capitalization of $3.05 billion, a PE ratio of -90.61 and a beta of 1.35. The firm has a fifty day moving average price of $43.01 and a two-hundred day moving average price of $38.56.
Calix (NYSE:CALX - Get Free Report) last posted its earnings results on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.06. Calix had a negative net margin of 4.20% and a negative return on equity of 4.14%. The firm had revenue of $220.20 million for the quarter, compared to analyst estimates of $206.98 million. During the same period in the previous year, the firm posted $0.21 EPS. Sell-side analysts expect that Calix, Inc will post -0.43 earnings per share for the current year.
Calix declared that its Board of Directors has initiated a share buyback program 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 reacquire up to 4.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its shares are undervalued.
Calix Company Profile
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Free Report)
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.
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