Mackenzie Financial Corp Raises Stock Holdings in Calix, Inc. (NYSE:CALX)

Mackenzie Financial Corp grew its stake in shares of Calix, Inc. (NYSE:CALX - Free Report) by 159.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,710 shares of the communications equipment provider's stock after acquiring an additional 14,567 shares during the quarter. Mackenzie Financial Corp's holdings in Calix were worth $827,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pacer Advisors Inc. increased its holdings in shares of Calix by 29.8% during the fourth quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider's stock valued at $54,000 after acquiring an additional 358 shares in the last quarter. Summit Investment Advisors Inc. increased 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 acquiring an additional 465 shares in the last quarter. Atria Investments Inc increased its holdings 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 in the last quarter. Smartleaf Asset Management LLC increased its holdings 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 in the last quarter. Finally, KBC Group NV increased its holdings in shares of 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 acquiring an additional 1,015 shares in the last quarter. 98.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CALX shares. Needham & Company LLC restated a "buy" rating and set a $53.00 price target on shares of Calix in a report on Tuesday, April 22nd. Rosenblatt Securities increased their price objective on Calix from $51.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. UBS Group reaffirmed a "buy" rating 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. Finally, JPMorgan Chase & Co. increased 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. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Calix currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.83.

Insider Activity

In other news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $39.59, for a total transaction of $989,750.00. Following the transaction, the director now directly owns 2,139,188 shares of the company's stock, valued at $84,690,452.92. The trade was a 1.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 16.90% of the company's stock.

Calix Stock Up 0.5%

NYSE:CALX traded up $0.25 on Thursday, hitting $47.52. The stock had a trading volume of 727,429 shares, compared to its average volume of 687,397. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of -105.60 and a beta of 1.35. The business's 50-day simple moving average is $40.39 and its two-hundred day simple moving average is $37.60. Calix, Inc. has a 52-week low of $28.61 and a 52-week high of $48.29.

Calix (NYSE:CALX - Get Free Report) last announced its earnings results on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.06. The business had revenue of $220.20 million for the quarter, compared to analysts' expectations of $206.98 million. Calix had a negative return on equity of 3.43% and a negative net margin of 3.58%. During the same period last year, the firm posted $0.21 earnings per share. As a group, equities research analysts anticipate that Calix, Inc. will post -0.43 EPS for the current year.

Calix declared that its board has authorized a share buyback 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 shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership 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.