Invesco Ltd. Sells 536,155 Shares of Calix, Inc. (NYSE:CALX)

Invesco Ltd. cut its position in shares of Calix, Inc. (NYSE:CALX - Free Report) by 69.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 238,948 shares of the communications equipment provider's stock after selling 536,155 shares during the period. Invesco Ltd. owned about 0.36% of Calix worth $8,332,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CALX. Vanguard Group Inc. increased its holdings in shares of Calix by 5.5% in 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 purchasing an additional 412,982 shares during the period. Bank of New York Mellon Corp boosted its stake in Calix by 3.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,373,246 shares of the communications equipment provider's stock worth $47,885,000 after purchasing an additional 45,195 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Calix by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,337,709 shares of the communications equipment provider's stock valued at $46,657,000 after acquiring an additional 6,144 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Calix by 8.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 649,244 shares of the communications equipment provider's stock valued at $22,639,000 after buying an additional 48,098 shares during the period. Finally, Norges Bank purchased a new stake in Calix during the fourth quarter worth about $11,518,000. 98.14% of the stock is owned by institutional investors.

Insider Activity

In other Calix news, Director Carl Russo sold 25,000 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $38.15, for a total value of $953,750.00. Following the completion of the transaction, the director now directly owns 2,164,188 shares of the company's stock, valued at approximately $82,563,772.20. The trade was a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 16.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CALX has been the subject of several recent analyst reports. UBS Group reaffirmed a "buy" rating on shares of Calix in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. boosted their price target on Calix from $34.00 to $38.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 23rd. Rosenblatt Securities lifted their price objective on shares of Calix from $51.00 to $52.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Roth Capital set a $50.00 price target on shares of Calix and gave the stock a "buy" rating in a research report on Tuesday, April 22nd. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $53.00 price target on shares of Calix in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.83.

Calix Price Performance

CALX traded up $0.22 on Tuesday, hitting $40.27. The company had a trading volume of 60,641 shares, compared to its average volume of 678,102. The company's fifty day moving average price is $34.97 and its 200 day moving average price is $35.82. Calix, Inc. has a 1-year low of $27.60 and a 1-year high of $42.50. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of -89.32 and a beta of 1.75.

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

Calix declared that its Board of Directors has authorized a share buyback program on Monday, April 21st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the communications equipment provider to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management 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.