Teacher Retirement System of Texas Makes New $922,000 Investment in Calix, Inc (NYSE:CALX)

Teacher Retirement System of Texas bought a new stake in shares of Calix, Inc (NYSE:CALX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 26,004 shares of the communications equipment provider's stock, valued at approximately $922,000.

Other large investors have also bought and sold shares of the company. Millennium Management LLC raised its holdings in Calix by 77.8% during the fourth quarter. Millennium Management LLC now owns 2,031,212 shares of the communications equipment provider's stock valued at $70,828,000 after buying an additional 889,102 shares in the last quarter. Vanguard Group Inc. raised its position in Calix by 5.5% in the 4th quarter. Vanguard Group Inc. now owns 7,977,769 shares of the communications equipment provider's stock worth $278,185,000 after purchasing an additional 412,982 shares during the last quarter. Balyasny Asset Management L.P. raised its position in Calix by 711.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 436,036 shares of the communications equipment provider's stock worth $15,205,000 after purchasing an additional 382,301 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Calix by 105.7% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 708,723 shares of the communications equipment provider's stock valued at $24,713,000 after acquiring an additional 364,209 shares during the last quarter. Finally, Norges Bank acquired a new position in Calix in the 4th quarter worth $11,518,000. Institutional investors own 98.14% of the company's stock.

Insider Activity

In related news, CFO Cory Sindelar sold 10,000 shares of Calix stock in a transaction on Monday, June 30th. The shares were sold at an average price of $52.00, for a total transaction of $520,000.00. Following the sale, the chief financial officer directly owned 76,285 shares in the company, valued at $3,966,820. This trade represents a 11.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carl Russo sold 25,000 shares of Calix stock in a transaction on 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 directly owned 2,139,188 shares of the company's stock, valued at $84,690,452.92. This trade represents a 1.16% decrease in their position. The disclosure for this sale can be found here. Company insiders own 16.90% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CALX. Needham & Company LLC reiterated a "buy" rating and set a $53.00 price target on shares of Calix in a research report on Tuesday, April 22nd. UBS Group restated a "buy" rating on shares of Calix in a report on Tuesday, April 22nd. Roth Capital set a $50.00 price target on shares of Calix and gave the company a "buy" rating in a research note on Tuesday, April 22nd. Wolfe Research started coverage on shares of Calix in a research note on Monday, July 7th. They issued a "peer perform" rating for the company. Finally, Wall Street Zen downgraded shares of Calix from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Calix has an average rating of "Moderate Buy" and an average price target of $50.83.

Calix Stock Performance

Shares of CALX traded up $0.75 during mid-day trading on Friday, hitting $53.71. 427,693 shares of the company traded hands, compared to its average volume of 747,720. The stock has a 50-day moving average price of $48.54 and a two-hundred day moving average price of $40.93. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of -103.25 and a beta of 1.37. Calix, Inc has a 1 year low of $28.60 and a 1 year high of $54.27.

Calix (NYSE:CALX - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The communications equipment provider reported $0.19 EPS 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 analysts' expectations of $206.98 million. Calix had a negative net margin of 4.20% and a negative return on equity of 4.14%. During the same period in the previous year, the business posted $0.21 EPS. On average, analysts forecast that Calix, Inc will post -0.43 EPS for the current year.

Calix declared that its board has authorized a share buyback 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 buy up to 4.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's leadership 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.