Jefferies Financial Group Inc. Sells 23,906 Shares of Calix, Inc. (NYSE:CALX)

Jefferies Financial Group Inc. decreased its position in Calix, Inc. (NYSE:CALX - Free Report) by 26.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,400 shares of the communications equipment provider's stock after selling 23,906 shares during the quarter. Jefferies Financial Group Inc. owned approximately 0.10% of Calix worth $2,350,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC grew its stake in Calix by 184.0% in the 3rd quarter. Barclays PLC now owns 113,579 shares of the communications equipment provider's stock valued at $4,404,000 after purchasing an additional 73,588 shares during the period. SG Americas Securities LLC purchased a new position in shares of Calix in the 4th quarter worth about $391,000. KBC Group NV grew its position in Calix by 57.8% during the fourth quarter. KBC Group NV now owns 2,772 shares of the communications equipment provider's stock valued at $97,000 after buying an additional 1,015 shares during the period. Pacer Advisors Inc. increased its holdings in Calix by 29.8% during the fourth quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider's stock worth $54,000 after buying an additional 358 shares during the last quarter. Finally, Yorktown Management & Research Co Inc purchased a new position in Calix in the fourth quarter valued at about $314,000. Hedge funds and other institutional investors own 98.14% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Rosenblatt Securities increased their price objective on Calix from $51.00 to $52.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. increased their price target on Calix from $34.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 23rd. UBS Group reaffirmed a "buy" rating on shares of Calix in a report on Tuesday, April 22nd. 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. Finally, Needham & Company LLC reissued a "buy" rating and issued a $53.00 price target on shares of Calix in a research 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 MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $47.83.

Calix Stock Down 0.9%

NYSE:CALX traded down $0.41 during mid-day trading on Friday, hitting $46.33. 465,202 shares of the stock traded hands, compared to its average volume of 693,673. Calix, Inc. has a 12-month low of $28.61 and a 12-month high of $47.73. The company has a market cap of $3.00 billion, a PE ratio of -102.95 and a beta of 1.38. The business's 50-day moving average price is $39.46 and its 200 day moving average price is $37.12.

Calix (NYSE:CALX - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The communications equipment provider reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.06. Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. The firm had revenue of $220.20 million during the quarter, compared to analyst estimates of $206.98 million. During the same period in the previous year, the business earned $0.21 EPS. Analysts anticipate that Calix, Inc. will post -0.43 earnings per share for the current fiscal year.

Calix announced that its board has initiated a stock repurchase plan 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 plans are typically 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 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 value of $989,750.00. Following the completion of the sale, the director now owns 2,139,188 shares of the company's stock, valued at $84,690,452.92. This represents a 1.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 16.90% of the stock is currently owned by insiders.

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.