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

ProShare Advisors LLC increased its stake in shares of Calix, Inc. (NYSE:CALX - Free Report) by 46.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,921 shares of the communications equipment provider's stock after acquiring an additional 5,662 shares during the period. ProShare Advisors LLC's holdings in Calix were worth $625,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC increased its stake in shares of Calix by 367.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider's stock valued at $28,000 after purchasing an additional 640 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of 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 during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Calix in the fourth quarter valued at approximately $84,000. KBC Group NV grew its position in shares of Calix by 57.8% in the fourth 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 in the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of Calix in the fourth quarter valued at approximately $208,000. Institutional investors and hedge funds own 98.14% of the company's stock.

Calix Stock Down 1.0%

NYSE:CALX traded down $0.48 on Friday, reaching $46.26. The company's stock had a trading volume of 43,398 shares, compared to its average volume of 693,604. Calix, Inc. has a 12-month low of $28.61 and a 12-month high of $47.73. The stock has a 50 day moving average price of $39.27 and a 200 day moving average price of $37.03. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of -102.81 and a beta of 1.38.

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, beating 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 quarter in the previous year, the company earned $0.21 earnings per share. Equities research analysts expect that Calix, Inc. will post -0.43 EPS for the current fiscal year.

Calix declared that its board has initiated a stock repurchase plan on Monday, April 21st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the communications equipment provider to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Calix

In related news, Director Carl Russo sold 25,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director now owns 2,139,188 shares in the company, valued at $84,690,452.92. The trade was a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 16.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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