Paradigm Capital Management Inc. NY Has $36.87 Million Stake in Calix, Inc. (NYSE:CALX)

Paradigm Capital Management Inc. NY trimmed its position in Calix, Inc. (NYSE:CALX - Free Report) by 20.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,057,200 shares of the communications equipment provider's stock after selling 269,900 shares during the period. Calix accounts for about 1.7% of Paradigm Capital Management Inc. NY's investment portfolio, making the stock its 18th biggest holding. Paradigm Capital Management Inc. NY owned about 1.59% of Calix worth $36,865,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Calix by 23.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 159,423 shares of the communications equipment provider's stock worth $5,559,000 after purchasing an additional 29,815 shares during the period. Voloridge Investment Management LLC bought a new position in Calix in the fourth quarter worth about $7,607,000. Squarepoint Ops LLC lifted its holdings in Calix by 20.9% in the fourth quarter. Squarepoint Ops LLC now owns 146,452 shares of the communications equipment provider's stock worth $5,107,000 after acquiring an additional 25,352 shares during the last quarter. Two Sigma Investments LP boosted its stake in Calix by 31.0% in the fourth quarter. Two Sigma Investments LP now owns 29,994 shares of the communications equipment provider's stock valued at $1,046,000 after acquiring an additional 7,100 shares during the period. Finally, State of Wyoming grew its holdings in shares of Calix by 56.5% during the fourth quarter. State of Wyoming now owns 7,657 shares of the communications equipment provider's stock valued at $267,000 after purchasing an additional 2,763 shares during the last quarter. 98.14% of the stock is owned by institutional investors.

Insider Buying and Selling

In related 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 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 trade represents a 1.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 16.90% of the company's stock.

Calix Stock Down 0.0%

CALX traded down $0.01 during trading on Friday, reaching $46.78. The stock had a trading volume of 497,170 shares, compared to its average volume of 698,740. The stock has a 50 day moving average of $38.39 and a two-hundred day moving average of $36.68. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of -103.95 and a beta of 1.38. Calix, Inc. has a 1-year low of $28.61 and a 1-year high of $47.34.

Calix (NYSE:CALX - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.06. The business had revenue of $220.20 million during 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. On average, research analysts forecast that Calix, Inc. will post -0.43 EPS for the current fiscal year.

Calix declared that its board has approved a share repurchase 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 reacquire up to 4.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

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

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.