XTX Topco Ltd Makes New $1.07 Million Investment 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 position in shares of Calix, Inc (NYSE:CALX - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 30,077 shares of the communications equipment provider's stock, valued at approximately $1,066,000.

A number of other hedge funds also recently bought and sold shares of CALX. American Century Companies Inc. boosted its stake in Calix by 1.3% during the 4th quarter. American Century Companies Inc. now owns 117,545 shares of the communications equipment provider's stock valued at $4,099,000 after purchasing an additional 1,537 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Calix in the fourth quarter worth about $425,000. Vanguard Group Inc. increased its position in Calix by 5.5% in the fourth 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 period. JPMorgan Chase & Co. grew its stake in shares of Calix by 93.0% during the fourth quarter. JPMorgan Chase & Co. now owns 246,199 shares of the communications equipment provider's stock worth $8,585,000 after purchasing an additional 118,629 shares during the period. Finally, Norges Bank bought a new position in shares of Calix during the 4th quarter valued at about $11,518,000. 98.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CALX shares. UBS Group reaffirmed a "buy" rating on shares of Calix in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. raised their price objective on Calix from $38.00 to $52.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Needham & Company LLC upped their price objective on Calix from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Roth Capital set a $50.00 price target on Calix and gave the company a "buy" rating in a research note on Tuesday, April 22nd. Finally, Wolfe Research started coverage on Calix in a research note on Monday, July 7th. They set a "peer perform" rating on the stock. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong 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 $59.25.

Calix Stock Down 0.1%

Shares of CALX traded down $0.08 during trading hours on Thursday, hitting $56.70. The company had a trading volume of 503,324 shares, compared to its average volume of 766,986. The firm has a market cap of $3.70 billion, a P/E ratio of -141.72 and a beta of 1.27. The stock's 50 day moving average price is $51.35 and its 200 day moving average price is $42.80. Calix, Inc has a 52-week low of $28.60 and a 52-week high of $57.98.

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

Calix announced that its Board of Directors has authorized a share repurchase plan on Monday, April 21st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the communications equipment provider to purchase up to 4.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Calix

In other news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction that occurred on Monday, July 28th. The shares were 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 of the company's stock, valued at approximately $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 accessible through this link. Also, CFO Cory Sindelar sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $56.00, for a total transaction of $560,000.00. Following the completion of the transaction, the chief financial officer directly owned 76,285 shares of the company's stock, valued at $4,271,960. This trade 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. Company 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.