Millennium Management LLC Boosts Stake in Calix, Inc. (NYSE:CALX)

Millennium Management LLC boosted its holdings in shares of Calix, Inc. (NYSE:CALX - Free Report) by 77.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,031,212 shares of the communications equipment provider's stock after buying an additional 889,102 shares during the quarter. Millennium Management LLC owned approximately 3.06% of Calix worth $70,828,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Pacer Advisors Inc. lifted its position in Calix by 29.8% during the fourth quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider's stock valued at $54,000 after acquiring an additional 358 shares during the last quarter. Summit Investment Advisors Inc. increased its position in shares of Calix by 8.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,224 shares of the communications equipment provider's stock worth $217,000 after purchasing an additional 465 shares in the last quarter. Atria Investments Inc increased its position in shares of Calix by 7.1% during the fourth quarter. Atria Investments Inc now owns 7,120 shares of the communications equipment provider's stock worth $248,000 after purchasing an additional 469 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Calix by 367.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider's stock valued at $28,000 after purchasing an additional 640 shares during the last quarter. Finally, Inspire Investing LLC boosted its position in shares of Calix by 9.2% in the 4th quarter. Inspire Investing LLC now owns 11,613 shares of the communications equipment provider's stock worth $405,000 after purchasing an additional 978 shares in the last quarter. Institutional investors own 98.14% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Roth Capital set a $50.00 target price on Calix and gave the company a "buy" rating in a research report 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 report on Wednesday, April 23rd. Needham & Company LLC reissued a "buy" rating and set a $53.00 target price on shares of Calix in a research report on Tuesday, April 22nd. 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 research note on Wednesday, April 23rd. Finally, UBS Group reiterated a "buy" rating on shares of Calix in a research note on Tuesday, April 22nd. Two investment 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 company has an average rating of "Moderate Buy" and a consensus target price of $47.83.

Calix Stock Performance

NYSE CALX traded up $0.12 on Wednesday, reaching $46.96. 107,769 shares of the company's stock traded hands, compared to its average volume of 693,404. Calix, Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $47.20. The stock has a 50 day moving average price of $37.60 and a 200-day moving average price of $36.44. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of -104.43 and a beta of 1.38.

Calix (NYSE:CALX - Get Free Report) last announced its earnings results 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 firm had revenue of $220.20 million for the quarter, compared to analyst estimates 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 quarter last year, the firm posted $0.21 EPS. As a group, equities research analysts anticipate that Calix, Inc. will post -0.43 EPS for the current fiscal year.

Calix announced that its Board of Directors has initiated a share buyback program on Monday, April 21st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the communications equipment provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Calix

In related news, Director Carl Russo sold 25,000 shares of the company's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $39.59, for a total value of $989,750.00. Following the completion of the sale, the director now owns 2,139,188 shares of the company's stock, valued at approximately $84,690,452.92. This represents a 1.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 16.90% of the company's stock.

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.