Calix, Inc. (NYSE:CALX) Stake Increased by Nebula Research & Development LLC

Nebula Research & Development LLC raised its holdings in Calix, Inc. (NYSE:CALX - Free Report) by 212.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,251 shares of the communications equipment provider's stock after purchasing an additional 22,624 shares during the quarter. Nebula Research & Development LLC owned about 0.05% of Calix worth $1,159,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Calix by 5.5% in the 4th 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 during the period. Norges Bank purchased a new stake in Calix during the fourth quarter worth about $11,518,000. Connor Clark & Lunn Investment Management Ltd. grew its position 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 worth $9,282,000 after buying an additional 256,829 shares during the period. Rockefeller Capital Management L.P. increased its holdings in Calix by 57.1% in 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 buying an additional 234,521 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Calix by 93.0% in the fourth quarter. JPMorgan Chase & Co. now owns 246,199 shares of the communications equipment provider's stock valued at $8,585,000 after buying an additional 118,629 shares in the last quarter. Institutional investors and hedge funds own 98.14% of the company's stock.

Insider Activity at Calix

In other news, Director Carl Russo sold 25,000 shares of the business's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $39.59, for a total transaction of $989,750.00. Following the transaction, the director now directly owns 2,139,188 shares of the company's stock, valued at approximately $84,690,452.92. The trade was a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 16.90% of the company's stock.

Analyst Ratings Changes

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

Calix Stock Performance

Shares of CALX traded up $0.73 during trading hours on Friday, hitting $42.04. The stock had a trading volume of 232,074 shares, compared to its average volume of 682,207. Calix, Inc. has a 12-month low of $27.76 and a 12-month high of $42.50. The firm has a market cap of $2.72 billion, a P/E ratio of -93.11 and a beta of 1.75. The company's fifty day simple moving average is $35.10 and its 200 day simple moving average is $35.91.

Calix (NYSE:CALX - Get Free Report) last released its quarterly earnings data 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. Calix had a negative return on equity of 3.43% and a negative net margin of 3.58%. The business had revenue of $220.20 million for the quarter, compared to analyst estimates of $206.98 million. During the same period in the previous year, the company posted $0.21 EPS. As a group, sell-side analysts predict that Calix, Inc. will post -0.43 earnings per share for the current fiscal year.

Calix declared that its board has authorized a share repurchase plan on Monday, April 21st that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the communications equipment provider to purchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its stock is undervalued.

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.