ProShare Advisors LLC Raises Position in Calix, Inc. (NYSE:CALX)

ProShare Advisors LLC increased its position in shares of Calix, Inc. (NYSE:CALX - Free Report) by 46.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,921 shares of the communications equipment provider's stock after buying an additional 5,662 shares during the quarter. ProShare Advisors LLC's holdings in Calix were worth $625,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new position in Calix during the 4th quarter worth approximately $512,000. HighTower Advisors LLC raised its stake 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 buying an additional 27,622 shares during the period. Amundi acquired a new position in Calix during the 4th quarter worth approximately $330,000. TradeLink Capital LLC purchased a new stake in shares of Calix in the fourth quarter worth approximately $299,000. Finally, Principal Financial Group Inc. raised 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 during the last quarter. 98.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $39.59, for a total transaction of $989,750.00. Following the sale, the director now owns 2,139,188 shares in the company, valued at $84,690,452.92. This represents a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 16.90% of the company's stock.

Calix Price Performance

Shares of CALX traded down $0.31 during mid-day trading on Thursday, hitting $46.75. The stock had a trading volume of 199,837 shares, compared to its average volume of 695,438. The firm has a market cap of $3.03 billion, a P/E ratio of -104.00 and a beta of 1.38. The business has a fifty day moving average price of $39.08 and a 200-day moving average price of $36.93. Calix, Inc. has a 52 week low of $28.61 and a 52 week high of $47.77.

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 (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.06. The firm 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 previous year, the company posted $0.21 earnings per share. As a group, research analysts expect that Calix, Inc. will post -0.43 earnings per share for the current fiscal year.

Calix announced that its board has initiated a stock repurchase program 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 reacquire up to 4.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is 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.