Calix, Inc (NYSE:CALX) Stake Boosted by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund grew its holdings in shares of Calix, Inc (NYSE:CALX - Free Report) by 17.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,759 shares of the communications equipment provider's stock after buying an additional 5,045 shares during the period. Illinois Municipal Retirement Fund owned 0.05% of Calix worth $1,196,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Summit Investment Advisors Inc. raised its holdings in shares of Calix by 8.1% during the fourth 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 during the last quarter. Atria Investments Inc increased 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 period. Portside Wealth Group LLC increased its stake in shares of Calix by 8.0% during the first quarter. Portside Wealth Group LLC now owns 8,414 shares of the communications equipment provider's stock valued at $298,000 after acquiring an additional 621 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Calix by 367.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider's stock valued at $28,000 after acquiring an additional 640 shares during the period. Finally, OV Management LLC increased its stake in shares of Calix by 0.8% during the fourth quarter. OV Management LLC now owns 139,603 shares of the communications equipment provider's stock valued at $4,868,000 after acquiring an additional 1,094 shares during the period. Institutional investors own 98.14% of the company's stock.

Calix Stock Performance

Shares of NYSE CALX traded up $0.98 during trading on Friday, hitting $53.89. The company had a trading volume of 320,479 shares, compared to its average volume of 693,152. The company has a market cap of $3.49 billion, a P/E ratio of -103.63 and a beta of 1.37. Calix, Inc has a 52 week low of $28.61 and a 52 week high of $54.07. The business's 50-day moving average is $46.73 and its 200 day moving average is $39.94.

Calix (NYSE:CALX - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $206.98 million. During the same period in the previous year, the company posted $0.21 EPS. On average, research analysts expect that Calix, Inc will post -0.43 EPS for the current year.

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

Insider Activity at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $39.59, for a total transaction of $989,750.00. Following the transaction, the director directly owned 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Cory Sindelar sold 10,000 shares of Calix stock in a transaction that occurred 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 transaction, the chief financial officer owned 76,285 shares in the company, valued at approximately $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. Insiders own 16.90% of the company's stock.

Analysts Set New Price Targets

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

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.