Calix, Inc. (NYSE:CALX) Shares Bought by Needham Investment Management LLC

Needham Investment Management LLC lifted its position in Calix, Inc. (NYSE:CALX - Free Report) by 10.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 275,000 shares of the communications equipment provider's stock after purchasing an additional 25,000 shares during the quarter. Needham Investment Management LLC owned about 0.41% of Calix worth $9,589,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CALX. Smartleaf Asset Management LLC grew its holdings in 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 acquiring an additional 640 shares during the period. Pacer Advisors Inc. grew its holdings in 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 acquiring an additional 358 shares during the period. Quantbot Technologies LP acquired a new stake in Calix during the fourth quarter worth about $84,000. KBC Group NV grew its holdings in 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 acquiring an additional 1,015 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Calix during the fourth quarter worth about $208,000. 98.14% of the stock is currently owned by hedge funds and other institutional investors.

Calix Price Performance

Shares of Calix stock traded up $0.18 on Friday, reaching $45.43. 732,373 shares of the company were exchanged, compared to its average volume of 691,680. The stock's 50 day moving average price is $36.75 and its 200-day moving average price is $36.23. The company has a market cap of $2.94 billion, a P/E ratio of -100.95 and a beta of 1.38. Calix, Inc. has a 1-year low of $28.61 and a 1-year high of $45.57.

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, topping the consensus estimate of $0.13 by $0.06. The firm 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 quarter in the previous year, the business earned $0.21 earnings per share. On average, research analysts predict that Calix, Inc. will post -0.43 earnings per share for the current fiscal year.

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

Insider Buying and Selling

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 stock was sold at an average price of $39.59, for a total transaction of $989,750.00. Following the completion of the sale, the director now owns 2,139,188 shares in the company, valued at $84,690,452.92. This represents a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 16.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on CALX shares. UBS Group reaffirmed a "buy" rating on shares of Calix in a report on Tuesday, April 22nd. Roth Capital set a $50.00 price objective on Calix and gave the stock a "buy" rating in a research report on Tuesday, April 22nd. Needham & Company LLC restated a "buy" rating and issued a $53.00 target price on shares of Calix in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. lifted their target price on Calix from $34.00 to $38.00 and gave the company a "neutral" rating in a research report on Wednesday, April 23rd. Finally, Rosenblatt Securities lifted their price objective on Calix from $51.00 to $52.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.83.

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.