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

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

A number of other institutional investors and hedge funds also recently modified their holdings of CALX. Smartleaf Asset Management LLC increased its stake in Calix by 367.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider's stock worth $28,000 after purchasing an additional 640 shares in the last quarter. Quantbot Technologies LP acquired a new position in Calix during the 4th quarter worth approximately $84,000. Mercer Global Advisors Inc. ADV acquired a new position in Calix during the 4th quarter worth approximately $208,000. Summit Investment Advisors Inc. boosted its position in 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 last quarter. Finally, Cornerstone Investment Partners LLC acquired a new position in Calix during the 4th quarter worth approximately $218,000. 98.14% of the stock is owned by institutional investors.

Calix Stock Performance

CALX traded up $0.32 during trading hours on Friday, reaching $47.45. The company's stock had a trading volume of 1,006,588 shares, compared to its average volume of 689,451. Calix, Inc has a 52 week low of $28.61 and a 52 week high of $48.88. The company's 50-day moving average is $43.56 and its 200-day moving average is $38.79. The firm has a market cap of $3.08 billion, a PE ratio of -91.24 and a beta of 1.35.

Calix (NYSE:CALX - Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.06. Calix had a negative return on equity of 4.14% and a negative net margin of 4.20%. The business had revenue of $220.20 million for the quarter, compared to analysts' expectations of $206.98 million. During the same quarter in the prior year, the business earned $0.21 EPS. Equities analysts anticipate that Calix, Inc will post -0.43 earnings per share for the current fiscal year.

Calix declared that its board has authorized a stock repurchase program on Monday, April 21st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the communications equipment provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

Insider Activity 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 transaction, the director now owns 2,139,188 shares in the company, valued at $84,690,452.92. This trade represents a 1.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.90% of the stock is owned by company insiders.

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.