Paradigm Capital Management Inc. NY Sells 269,900 Shares of Calix, Inc. (NYSE:CALX)

Paradigm Capital Management Inc. NY lessened its position in Calix, Inc. (NYSE:CALX - Free Report) by 20.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,057,200 shares of the communications equipment provider's stock after selling 269,900 shares during the quarter. Calix comprises about 1.7% of Paradigm Capital Management Inc. NY's investment portfolio, making the stock its 18th biggest position. Paradigm Capital Management Inc. NY owned about 1.59% of Calix worth $36,865,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Barclays PLC lifted its holdings in shares of Calix by 184.0% during the third quarter. Barclays PLC now owns 113,579 shares of the communications equipment provider's stock worth $4,404,000 after buying an additional 73,588 shares during the last quarter. SG Americas Securities LLC bought a new position in Calix during the fourth quarter worth $391,000. Inspire Investing LLC raised its stake in Calix by 9.2% during the 4th quarter. Inspire Investing LLC now owns 11,613 shares of the communications equipment provider's stock valued at $405,000 after purchasing an additional 978 shares during the last quarter. KBC Group NV raised its stake in Calix by 57.8% during the 4th quarter. KBC Group NV now owns 2,772 shares of the communications equipment provider's stock valued at $97,000 after purchasing an additional 1,015 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Calix by 29.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider's stock valued at $54,000 after purchasing an additional 358 shares during the period. Institutional investors own 98.14% of the company's stock.

Insider Transactions at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $39.59, for a total value of $989,750.00. Following the transaction, the director now owns 2,139,188 shares of the company's stock, valued at approximately $84,690,452.92. This represents a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 16.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Calix Stock Performance

CALX traded down $0.22 during mid-day trading on Thursday, reaching $46.81. The stock had a trading volume of 851,498 shares, compared to its average volume of 698,538. The firm's fifty day simple moving average is $38.14 and its two-hundred day simple moving average is $36.59. The stock has a market capitalization of $3.03 billion, a P/E ratio of -104.01 and a beta of 1.38. Calix, Inc. has a 52 week low of $28.61 and a 52 week high of $47.34.

Calix (NYSE:CALX - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.06. The business 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 quarter in the prior year, the firm posted $0.21 earnings per share. As a group, analysts expect that Calix, Inc. will post -0.43 EPS for the current fiscal year.

Calix announced that its Board of Directors has authorized a share repurchase plan on Monday, April 21st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the communications equipment provider to purchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors 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.