Graham Capital Management L.P. Makes New Investment in Calix, Inc. (NYSE:CALX)

Graham Capital Management L.P. acquired a new stake in shares of Calix, Inc. (NYSE:CALX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 19,754 shares of the communications equipment provider's stock, valued at approximately $689,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Calix by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 7,977,769 shares of the communications equipment provider's stock valued at $278,185,000 after buying an additional 412,982 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in Calix by 711.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 436,036 shares of the communications equipment provider's stock valued at $15,205,000 after buying an additional 382,301 shares during the last quarter. Norges Bank bought a new stake in Calix in the 4th quarter valued at about $11,518,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Calix by 2,741.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 266,197 shares of the communications equipment provider's stock worth $9,282,000 after buying an additional 256,829 shares during the period. Finally, Rockefeller Capital Management L.P. increased its holdings in shares of Calix by 57.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 644,984 shares of the communications equipment provider's stock valued at $22,490,000 after purchasing an additional 234,521 shares during the period. Hedge funds and other institutional investors own 98.14% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Calix from $34.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 23rd. Needham & Company LLC reissued a "buy" rating and set a $53.00 target price on shares of Calix in a report on Tuesday, April 22nd. 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. UBS Group reaffirmed a "buy" rating on shares of Calix in a report on Tuesday, April 22nd. Finally, Rosenblatt Securities upped their price target on shares of Calix from $51.00 to $52.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.83.

Insider Buying and Selling

In other Calix news, Director Carl Russo sold 25,000 shares of the company's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $38.15, for a total transaction of $953,750.00. Following the transaction, the director now owns 2,164,188 shares of the company's stock, valued at approximately $82,563,772.20. This represents a 1.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.90% of the stock is owned by corporate insiders.

Calix Price Performance

Shares of NYSE CALX traded up $0.18 during trading hours on Friday, reaching $45.43. The stock had a trading volume of 732,373 shares, compared to its average volume of 692,823. The company has a market cap of $2.94 billion, a price-to-earnings ratio of -100.95 and a beta of 1.38. Calix, Inc. has a twelve month low of $28.61 and a twelve month high of $45.62. The business's fifty day moving average is $37.03 and its two-hundred day moving average is $36.29.

Calix (NYSE:CALX - Get Free Report) last issued its quarterly earnings data on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.06. The company had revenue of $220.20 million during the quarter, compared to analysts' expectations of $206.98 million. Calix had a negative return on equity of 3.43% and a negative net margin of 3.58%. During the same period last year, the business earned $0.21 earnings per share. Sell-side analysts forecast that Calix, Inc. will post -0.43 earnings per share for the current fiscal year.

Calix declared that its Board of Directors has initiated a stock repurchase plan on Monday, April 21st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the communications equipment provider to reacquire up to 4.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

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.