LPL Financial LLC Sells 8,146 Shares of Calix, Inc. (NYSE:CALX)

LPL Financial LLC trimmed its holdings in Calix, Inc. (NYSE:CALX - Free Report) by 50.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,128 shares of the communications equipment provider's stock after selling 8,146 shares during the period. LPL Financial LLC's holdings in Calix were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CALX. Connor Clark & Lunn Investment Management Ltd. grew its stake in 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 valued at $9,282,000 after acquiring an additional 256,829 shares in the last quarter. Barclays PLC boosted its holdings in Calix by 184.0% in the 3rd quarter. Barclays PLC now owns 113,579 shares of the communications equipment provider's stock valued at $4,404,000 after purchasing an additional 73,588 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Calix by 8.0% during 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 purchasing an additional 48,098 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Calix by 3.4% in the fourth 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 period. Finally, JPMorgan Chase & Co. raised its position in shares of Calix by 46.2% in the third quarter. JPMorgan Chase & Co. now owns 127,570 shares of the communications equipment provider's stock worth $4,948,000 after buying an additional 40,306 shares in the last quarter. Institutional investors own 98.14% of the company's stock.

Calix Price Performance

NYSE CALX traded up $0.70 during trading on Friday, hitting $42.01. 808,821 shares of the company's stock traded hands, compared to its average volume of 684,800. The stock has a fifty day moving average of $35.18 and a two-hundred day moving average of $35.91. Calix, Inc. has a 12-month low of $28.61 and a 12-month high of $42.50. The firm has a market cap of $2.72 billion, a P/E ratio of -93.35 and a beta of 1.75.

Calix (NYSE:CALX - Get Free Report) last issued 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 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 in the prior year, the business posted $0.21 EPS. As a group, analysts expect that Calix, Inc. will post -0.43 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Calix from $34.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 23rd. UBS Group restated a "buy" rating on shares of Calix in a research report on Tuesday, April 22nd. Roth Capital set a $50.00 target price on shares of Calix and gave the company a "buy" rating in a research report on Tuesday, April 22nd. Needham & Company LLC reissued a "buy" rating and issued a $53.00 price target on shares of Calix in a report on Tuesday, April 22nd. Finally, Rosenblatt Securities raised their price objective on shares of Calix from $51.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Calix has an average rating of "Moderate Buy" and an average target price of $47.83.

Insider Buying and Selling

In related news, Director Carl Russo sold 25,000 shares of the business's stock in a transaction dated 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 in the company, valued at $82,563,772.20. The trade was a 1.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 16.90% of the stock is owned by insiders.

Calix 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.