8,616 Shares in Calix, Inc. (NYSE:CALX) Acquired by Neo Ivy Capital Management

Neo Ivy Capital Management bought a new stake in Calix, Inc. (NYSE:CALX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 8,616 shares of the communications equipment provider's stock, valued at approximately $300,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CALX. Smartleaf Asset Management LLC grew its position in Calix by 367.8% in 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. Pacer Advisors Inc. increased its stake in Calix by 29.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider's stock worth $54,000 after purchasing an additional 358 shares in the last quarter. Quantbot Technologies LP acquired a new position in Calix in the 4th quarter worth $84,000. KBC Group NV increased its holdings in Calix by 57.8% during the 4th quarter. KBC Group NV now owns 2,772 shares of the communications equipment provider's stock worth $97,000 after purchasing an additional 1,015 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Calix during the fourth quarter worth $208,000. 98.14% of the stock is owned by hedge funds and other institutional investors.

Calix Trading Down 1.2%

Calix stock traded down $0.58 during midday trading on Friday, reaching $46.17. The stock had a trading volume of 95,097 shares, compared to its average volume of 693,808. The company has a fifty day moving average price of $39.27 and a two-hundred day moving average price of $37.03. The company has a market capitalization of $2.99 billion, a P/E ratio of -102.41 and a beta of 1.38. Calix, Inc. has a 12 month low of $28.61 and a 12 month high of $47.73.

Calix (NYSE:CALX - Get Free Report) last issued 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. The company had revenue of $220.20 million for the quarter, compared to analyst estimates 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 in the prior year, the firm earned $0.21 earnings per share. On average, equities research analysts predict that Calix, Inc. will post -0.43 earnings per share for the current fiscal year.

Calix announced 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 shares. This repurchase authorization permits the communications equipment provider to purchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

CALX has been the topic of several recent research reports. UBS Group reiterated a "buy" rating on shares of Calix in a research note on Tuesday, April 22nd. Roth Capital set a $50.00 price objective on shares of Calix and gave the company a "buy" rating in a research report on Tuesday, April 22nd. Rosenblatt Securities boosted their price objective on Calix from $51.00 to $52.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Needham & Company LLC reissued a "buy" rating and set a $53.00 target price on shares of Calix in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. upped their price target 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. 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, Calix currently has a consensus rating of "Moderate Buy" and an average target price of $47.83.

Insider Activity

In other Calix news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 16.90% of the company's stock.

About Calix

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.