Voloridge Investment Management LLC Invests $7.61 Million in Calix, Inc. (NYSE:CALX)

Voloridge Investment Management LLC bought a new position in shares of Calix, Inc. (NYSE:CALX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 218,142 shares of the communications equipment provider's stock, valued at approximately $7,607,000. Voloridge Investment Management LLC owned 0.33% of Calix as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CALX. Smartleaf Asset Management LLC boosted its stake in shares of Calix by 367.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider's stock worth $28,000 after acquiring an additional 640 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Calix by 29.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider's stock valued at $54,000 after buying an additional 358 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Calix in the 4th quarter valued at $84,000. KBC Group NV raised its holdings in shares of Calix by 57.8% in the 4th quarter. KBC Group NV now owns 2,772 shares of the communications equipment provider's stock valued at $97,000 after buying an additional 1,015 shares during the period. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of Calix in the 4th quarter valued at $208,000. 98.14% of the stock is owned by institutional investors and hedge funds.

Calix Price Performance

Shares of NYSE CALX traded down $0.62 during trading on Friday, hitting $46.13. 68,322 shares of the company were exchanged, compared to its average volume of 693,703. The company has a market cap of $2.99 billion, a price-to-earnings ratio of -102.52 and a beta of 1.38. Calix, Inc. has a 1 year low of $28.61 and a 1 year high of $47.73. The firm's fifty day moving average price is $39.27 and its 200 day moving average price is $37.03.

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, beating the consensus estimate of $0.13 by $0.06. The firm had revenue of $220.20 million during the quarter, compared to the consensus estimate of $206.98 million. Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. During the same period last year, the firm posted $0.21 EPS. On average, research analysts forecast that Calix, Inc. will post -0.43 earnings per share for the current year.

Calix announced that its board has authorized a stock repurchase 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 typically an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at Calix

In other news, Director Carl Russo sold 25,000 shares of the business's 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 transaction, the director now directly owns 2,139,188 shares of the company's stock, valued at approximately $84,690,452.92. The trade was a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 16.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Roth Capital set a $50.00 price objective on Calix and gave the company a "buy" rating in a report on Tuesday, April 22nd. UBS Group restated a "buy" rating on shares of Calix in a report on Tuesday, April 22nd. JPMorgan Chase & Co. upped their price target on Calix from $34.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, April 23rd. Needham & Company LLC restated a "buy" rating and set a $53.00 price target on shares of Calix in a report on Tuesday, April 22nd. Finally, Rosenblatt Securities raised their price objective on shares of Calix from $51.00 to $52.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Calix currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.83.

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.