8,240 Shares in Calix, Inc (NYSE:CALX) Bought by Universal Beteiligungs und Servicegesellschaft mbH

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 bought a new stake in Calix, Inc (NYSE:CALX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,240 shares of the communications equipment provider's stock, valued at approximately $292,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CALX. Summit Investment Advisors Inc. boosted its stake in shares of Calix by 8.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,224 shares of the communications equipment provider's stock valued at $217,000 after purchasing an additional 465 shares in the last quarter. Signaturefd LLC increased its stake in shares of Calix by 91.1% in the first quarter. Signaturefd LLC now owns 1,007 shares of the communications equipment provider's stock valued at $36,000 after buying an additional 480 shares during the period. Portside Wealth Group LLC increased its stake in shares of Calix by 8.0% in the first quarter. Portside Wealth Group LLC now owns 8,414 shares of the communications equipment provider's stock valued at $298,000 after buying an additional 621 shares during the period. Wellington Management Group LLP increased its stake in shares of Calix by 0.6% in the fourth quarter. Wellington Management Group LLP now owns 202,274 shares of the communications equipment provider's stock valued at $7,053,000 after buying an additional 1,135 shares during the period. Finally, Huntleigh Advisors Inc. increased its stake in shares of Calix by 16.6% in the first quarter. Huntleigh Advisors Inc. now owns 9,822 shares of the communications equipment provider's stock valued at $348,000 after buying an additional 1,397 shares during the period. Institutional investors own 98.14% of the company's stock.

Insider Activity at Calix

In other news, Director Carl Russo sold 25,000 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $55.40, for a total transaction of $1,385,000.00. Following the completion of the sale, the director owned 2,114,188 shares in the company, valued at $117,126,015.20. The trade was a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Cory Sindelar sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $56.00, for a total value of $560,000.00. Following the sale, the chief financial officer owned 76,285 shares of the company's stock, valued at approximately $4,271,960. This represents a 11.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,000 shares of company stock valued at $2,465,000. Corporate insiders own 16.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Needham & Company LLC upped their price objective on Calix from $60.00 to $70.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. 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. UBS Group reaffirmed a "buy" rating on shares of Calix in a research note on Tuesday, April 22nd. Wall Street Zen raised Calix from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Finally, Roth Capital set a $50.00 price objective on Calix and gave the stock a "buy" rating in a research note on Tuesday, April 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 MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $59.25.

Calix Trading Up 0.2%

CALX stock traded up $0.10 during mid-day trading on Friday, reaching $56.78. The company's stock had a trading volume of 318,993 shares, compared to its average volume of 766,071. The company has a market cap of $3.71 billion, a price-to-earnings ratio of -141.58 and a beta of 1.27. The business's 50 day moving average price is $51.55 and its 200 day moving average price is $42.93. Calix, Inc has a 12 month low of $28.60 and a 12 month high of $57.98.

Calix (NYSE:CALX - Get Free Report) last issued its 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. The business had revenue of $241.90 million during the quarter, compared to the consensus estimate of $223.81 million. Calix had a negative return on equity of 3.21% and a negative net margin of 3.09%. The firm's revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 earnings per share. As a group, equities analysts expect that Calix, Inc will post -0.43 EPS for the current fiscal year.

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

Calix Company 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.