Kera Capital Partners Inc. Makes New Investment in Calix, Inc. (NYSE:CALX)

Kera Capital Partners Inc. acquired a new stake in shares of Calix, Inc. (NYSE:CALX - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,360 shares of the communications equipment provider's stock, valued at approximately $261,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Calix during the fourth quarter worth about $512,000. HighTower Advisors LLC lifted its position in Calix by 30.5% during the 4th quarter. HighTower Advisors LLC now owns 118,245 shares of the communications equipment provider's stock worth $4,123,000 after acquiring an additional 27,622 shares in the last quarter. Amundi bought a new position in Calix during the 4th quarter worth $330,000. Principal Financial Group Inc. grew its stake in shares of Calix by 3.8% in the fourth quarter. Principal Financial Group Inc. now owns 287,509 shares of the communications equipment provider's stock worth $10,025,000 after purchasing an additional 10,393 shares in the last quarter. Finally, TradeLink Capital LLC purchased a new stake in shares of Calix during the fourth quarter valued at $299,000. Hedge funds and other institutional investors own 98.14% of the company's stock.

Insider Activity at Calix

In related news, Director Carl Russo sold 25,000 shares of the company'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 transaction of $989,750.00. Following the completion of the transaction, the director now directly owns 2,139,188 shares in the company, valued at $84,690,452.92. This represents a 1.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 16.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on the company. Roth Capital set a $50.00 price objective on Calix and gave the stock a "buy" rating in a research report on Tuesday, April 22nd. Rosenblatt Securities boosted their price target on Calix from $51.00 to $52.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. UBS Group reiterated a "buy" rating on shares of Calix in a research note on Tuesday, April 22nd. Needham & Company LLC restated a "buy" rating and issued a $53.00 target price on shares of Calix in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. boosted their target price on Calix from $34.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Calix currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.83.

Calix Stock Performance

Shares of CALX traded up $0.11 during midday trading on Tuesday, hitting $47.38. 79,561 shares of the stock were exchanged, compared to its average volume of 687,252. The firm has a market cap of $3.07 billion, a P/E ratio of -105.29 and a beta of 1.38. The stock has a fifty day simple moving average of $39.68 and a 200 day simple moving average of $37.34. Calix, Inc. has a 52-week low of $28.61 and a 52-week high of $47.73.

Calix (NYSE:CALX - Get Free Report) last released its quarterly earnings data 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 3.43% and a negative net margin of 3.58%. The business had revenue of $220.20 million during the quarter, compared to the consensus estimate of $206.98 million. During the same period in the prior year, the firm posted $0.21 EPS. As a group, equities research analysts forecast that Calix, Inc. will post -0.43 EPS for the current fiscal year.

Calix declared that its board has approved a stock repurchase program on Monday, April 21st that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the communications equipment provider to purchase up to 4.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

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.