Universal Beteiligungs und Servicegesellschaft mbH Purchases New Holdings in Calix, Inc (NYSE:CALX)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has made a new investment of $292,000 in Calix, Inc, acquiring 8,240 shares during the first quarter of the year.
• Analysts are bullish on Calix, with recent reports increasing target prices; JPMorgan raised it from $38 to $52, while Needham & Company set a target of $70.
• Calix reported strong quarterly earnings, with a revenue of $241.9 million and an EPS of $0.33, surpassing analysts' expectations significantly.

Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Calix, Inc (NYSE:CALX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 8,240 shares of the communications equipment provider's stock, valued at approximately $292,000.

Several other institutional investors have also recently modified their holdings of the stock. Millennium Management LLC grew its stake in shares of Calix by 77.8% in the fourth quarter. Millennium Management LLC now owns 2,031,212 shares of the communications equipment provider's stock worth $70,828,000 after acquiring an additional 889,102 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in Calix by 711.5% during 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 buying an additional 382,301 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in shares of Calix by 105.7% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 708,723 shares of the communications equipment provider's stock worth $24,713,000 after buying an additional 364,209 shares during the period. Norges Bank acquired a new stake in Calix in the 4th quarter valued at $11,518,000. Finally, Rockefeller Capital Management L.P. increased its position in shares of Calix by 57.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 644,984 shares of the communications equipment provider's stock worth $22,490,000 after purchasing an additional 234,521 shares during the last quarter. 98.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CALX shares. Wall Street Zen upgraded Calix from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. JPMorgan Chase & Co. boosted their target price on shares of Calix from $38.00 to $52.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Roth Capital set a $50.00 price target on shares of Calix and gave the stock a "buy" rating in a report on Tuesday, April 22nd. UBS Group reaffirmed a "buy" rating on shares of Calix in a report on Tuesday, April 22nd. Finally, Rosenblatt Securities upped their price objective on Calix from $56.00 to $65.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Calix has a consensus rating of "Moderate Buy" and a consensus price target of $59.25.

Calix Stock Down 0.3%

Shares of Calix stock traded down $0.15 on Thursday, hitting $56.63. 787,619 shares of the company were exchanged, compared to its average volume of 768,417. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of -141.58 and a beta of 1.27. The company has a 50-day moving average price of $51.35 and a 200 day moving average price of $42.80. Calix, Inc has a 1-year low of $28.60 and a 1-year high of $57.98.

Calix (NYSE:CALX - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The communications equipment provider reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of ($0.08) by $0.41. Calix had a negative net margin of 3.09% and a negative return on equity of 3.21%. The business had revenue of $241.90 million for the quarter, compared to analysts' expectations of $223.81 million. During the same period in the prior year, the company posted $0.09 EPS. The business's revenue for the quarter was up 22.1% on a year-over-year basis. Research analysts forecast that Calix, Inc will post -0.43 EPS for the current year.

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

Insider Activity at Calix

In related news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction on Monday, July 28th. The shares were sold at an average price of $55.40, for a total value of $1,385,000.00. Following the transaction, the director owned 2,114,188 shares in the company, valued at $117,126,015.20. This trade represents a 1.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Cory Sindelar sold 10,000 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $56.00, for a total value of $560,000.00. Following the completion of the transaction, the chief financial officer owned 76,285 shares in the company, valued at approximately $4,271,960. This represents a 11.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,000 shares of company stock worth $2,465,000 in the last 90 days. 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.