SG Americas Securities LLC Acquires 17,907 Shares of Calix, Inc (NYSE:CALX)

SG Americas Securities LLC boosted its stake in shares of Calix, Inc (NYSE:CALX - Free Report) by 159.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,128 shares of the communications equipment provider's stock after acquiring an additional 17,907 shares during the period. SG Americas Securities LLC's holdings in Calix were worth $1,032,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Summit Investment Advisors Inc. lifted its holdings in shares of Calix by 8.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,224 shares of the communications equipment provider's stock worth $217,000 after acquiring an additional 465 shares during the period. Atria Investments Inc raised its position in Calix by 7.1% during the fourth quarter. Atria Investments Inc now owns 7,120 shares of the communications equipment provider's stock valued at $248,000 after purchasing an additional 469 shares in the last quarter. Portside Wealth Group LLC lifted its stake in Calix by 8.0% during the first quarter. Portside Wealth Group LLC now owns 8,414 shares of the communications equipment provider's stock worth $298,000 after purchasing an additional 621 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings 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. Finally, OV Management LLC increased its stake in shares of Calix by 0.8% in the 4th quarter. OV Management LLC now owns 139,603 shares of the communications equipment provider's stock valued at $4,868,000 after purchasing an additional 1,094 shares during the last quarter. 98.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Calix

In related 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 completion of the transaction, the director now owns 2,139,188 shares of the company's stock, valued at $84,690,452.92. This trade represents a 1.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 16.90% of the stock is currently owned by company insiders.

Calix Stock Performance

Shares of NYSE:CALX traded down $0.10 during midday trading on Friday, hitting $47.04. 164,827 shares of the stock were exchanged, compared to its average volume of 686,826. The business's 50-day moving average price is $43.28 and its 200 day moving average price is $38.65. Calix, Inc has a 12 month low of $28.61 and a 12 month high of $48.88. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of -90.44 and a beta of 1.35.

Calix (NYSE:CALX - Get Free Report) last posted 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. Calix had a negative net margin of 4.20% and a negative return on equity of 4.14%. The firm had revenue of $220.20 million for the quarter, compared to analyst estimates of $206.98 million. During the same period in the previous year, the firm posted $0.21 EPS. As a group, sell-side analysts expect that Calix, Inc will post -0.43 EPS for the current year.

Calix announced that its Board of Directors has authorized a share buyback program on Monday, April 21st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the communications equipment provider to purchase up to 4.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Roth Capital set a $50.00 price objective on Calix and gave the stock a "buy" rating in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. increased their target price on shares of Calix from $34.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, April 23rd. UBS Group reaffirmed a "buy" rating on shares of Calix in a report on Tuesday, April 22nd. Needham & Company LLC reiterated a "buy" rating and set a $53.00 price objective on shares of Calix in a research report on Tuesday, April 22nd. Finally, Rosenblatt Securities raised their target price on shares of Calix from $52.00 to $56.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $48.50.

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.