Calix, Inc. (NYSE:CALX) Shares Purchased by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lifted its stake in shares of Calix, Inc. (NYSE:CALX - Free Report) by 105.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 708,723 shares of the communications equipment provider's stock after purchasing an additional 364,209 shares during the period. Jacobs Levy Equity Management Inc. owned about 1.07% of Calix worth $24,713,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC increased its stake in shares of Calix by 367.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider's stock worth $28,000 after purchasing an additional 640 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Calix by 29.8% during the fourth quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider's stock worth $54,000 after purchasing an additional 358 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Calix during the fourth quarter worth about $84,000. KBC Group NV increased its stake in shares of Calix by 57.8% during the fourth quarter. KBC Group NV now owns 2,772 shares of the communications equipment provider's stock worth $97,000 after purchasing an additional 1,015 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of Calix during the fourth quarter worth about $208,000. Hedge funds and other institutional investors own 98.14% of the company's stock.

Calix Stock Up 0.4%

NYSE:CALX traded up $0.18 on Friday, hitting $45.43. The stock had a trading volume of 732,373 shares, compared to its average volume of 692,823. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of -100.95 and a beta of 1.38. The company has a fifty day moving average price of $37.03 and a two-hundred day moving average price of $36.29. Calix, Inc. has a 1-year low of $28.61 and a 1-year high of $45.62.

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 company had revenue of $220.20 million for the quarter, compared to analyst estimates 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 in the previous year, the business posted $0.21 EPS. As a group, analysts anticipate that Calix, Inc. will post -0.43 earnings per share for the current year.

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

Insider Buying and Selling at Calix

In other news, Director Carl Russo sold 25,000 shares of the company's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $39.59, for a total value of $989,750.00. Following the transaction, the director now directly owns 2,139,188 shares in the company, valued at approximately $84,690,452.92. This represents a 1.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 16.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.