XTX Topco Ltd Purchases New Holdings in Calix, Inc (NYSE:CALX)

Key Points

• XTX Topco Ltd purchased 30,077 shares of Calix, Inc for approximately $1,066,000, as disclosed in a recent SEC filing.
• Calix has initiated a $100 million share buyback plan, indicating that its leadership believes the stock is currently undervalued.
• Analysts have a consensus rating of "Moderate Buy" for Calix, with a consensus price target of $59.25 following several upgrades from firms like Rosenblatt Securities and JPMorgan Chase.

XTX Topco Ltd bought a new stake in Calix, Inc (NYSE:CALX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 30,077 shares of the communications equipment provider's stock, valued at approximately $1,066,000.

A number of other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new stake in shares of Calix during the first quarter worth about $28,000. Signaturefd LLC boosted its holdings in shares of Calix by 91.1% in the 1st quarter. Signaturefd LLC now owns 1,007 shares of the communications equipment provider's stock worth $36,000 after purchasing an additional 480 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in shares of Calix during the 4th quarter worth approximately $208,000. Summit Investment Advisors Inc. raised 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 valued at $217,000 after purchasing an additional 465 shares in the last quarter. Finally, LVW Advisors LLC bought a new stake in Calix during the 1st quarter valued at $226,000. Institutional investors own 98.14% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CALX. Rosenblatt Securities lifted their price target on Calix from $56.00 to $65.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Needham & Company LLC increased their price target on Calix from $60.00 to $70.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Wolfe Research initiated coverage on Calix in a research report on Monday, July 7th. They set a "peer perform" rating for the company. JPMorgan Chase & Co. lifted their price target on Calix from $38.00 to $52.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Finally, Wall Street Zen upgraded Calix from a "hold" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.25.

Calix Price Performance

Shares of CALX stock traded down $0.90 during trading hours on Tuesday, reaching $56.57. 703,107 shares of the company's stock were exchanged, compared to its average volume of 874,808. The company has a market cap of $3.69 billion, a P/E ratio of -141.42 and a beta of 1.27. The company's 50 day moving average is $50.97 and its two-hundred day moving average is $42.60. 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 data on Monday, July 21st. The communications equipment provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.41. Calix had a negative return on equity of 3.21% and a negative net margin of 3.09%. The business had revenue of $241.90 million for the quarter, compared to analysts' expectations of $223.81 million. During the same quarter last year, the firm earned $0.09 earnings per share. The business's revenue was up 22.1% on a year-over-year basis. As a group, analysts predict that Calix, Inc will post -0.43 EPS for the current fiscal year.

Calix declared that its Board of Directors has approved a share repurchase program on Monday, April 21st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the communications equipment provider to buy up to 4.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Insider Activity at Calix

In other news, CFO Cory Sindelar sold 10,000 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $56.00, for a total value of $560,000.00. Following the completion of the sale, the chief financial officer owned 76,285 shares in the company, valued at $4,271,960. This represents a 11.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carl Russo sold 25,000 shares of the firm's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $55.40, for a total value of $1,385,000.00. Following the sale, the director directly owned 2,114,188 shares of the company's stock, valued at $117,126,015.20. This trade represents a 1.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,000 shares of company stock valued at $2,465,000 over the last ninety days. Corporate insiders own 16.90% of the company's stock.

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.