Calix, Inc. (NYSE:CALX) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its holdings in shares of Calix, Inc. (NYSE:CALX - Free Report) by 21.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 160,419 shares of the communications equipment provider's stock after selling 43,499 shares during the period. Renaissance Technologies LLC owned 0.24% of Calix worth $5,594,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CALX. Vanguard Group Inc. increased its stake in shares of Calix by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 7,977,769 shares of the communications equipment provider's stock worth $278,185,000 after acquiring an additional 412,982 shares during the period. Norges Bank purchased a new stake in Calix in the 4th quarter valued at approximately $11,518,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Calix by 2,741.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 266,197 shares of the communications equipment provider's stock worth $9,282,000 after purchasing an additional 256,829 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Calix by 93.0% during the 4th quarter. JPMorgan Chase & Co. now owns 246,199 shares of the communications equipment provider's stock worth $8,585,000 after buying an additional 118,629 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Calix in the 4th quarter valued at approximately $2,981,000. 98.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Calix

In related news, Director Carl Russo sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $38.15, for a total transaction of $953,750.00. Following the sale, the director now owns 2,164,188 shares in the company, valued at approximately $82,563,772.20. This trade represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 16.90% of the company's stock.

Calix Trading Up 2.2 %

Shares of CALX stock traded up $0.87 during trading hours on Friday, hitting $39.92. The company's stock had a trading volume of 233,794 shares, compared to its average volume of 676,703. The business has a fifty day moving average of $34.97 and a 200-day moving average of $35.81. Calix, Inc. has a twelve month low of $27.20 and a twelve month high of $42.50. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of -88.88 and a beta of 1.75.

Calix (NYSE:CALX - Get Free Report) last announced its earnings results on Monday, April 21st. The communications equipment provider reported $0.19 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 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 prior year, the firm earned $0.21 EPS. On average, equities analysts expect that Calix, Inc. will post -0.43 EPS for the current fiscal year.

Calix declared that its Board of Directors has authorized a share repurchase program 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 buy up to 4.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CALX shares. JPMorgan Chase & Co. upped their price objective on Calix from $34.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday. UBS Group restated a "buy" rating on shares of Calix in a research report on Tuesday. Needham & Company LLC reiterated a "buy" rating and issued a $53.00 price target on shares of Calix in a report on Tuesday. Rosenblatt Securities boosted their price objective on shares of Calix from $51.00 to $52.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Roth Capital set a $50.00 target price on shares of Calix and gave the stock a "buy" rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $45.29.

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.