Schonfeld Strategic Advisors LLC Purchases New Position in Calix, Inc. (NYSE:CALX)

Schonfeld Strategic Advisors LLC acquired a new stake in Calix, Inc. (NYSE:CALX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 23,060 shares of the communications equipment provider's stock, valued at approximately $804,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CALX. Smartleaf Asset Management LLC boosted its position 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 last quarter. Pacer Advisors Inc. boosted its holdings in shares of Calix by 29.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider's stock worth $54,000 after purchasing an additional 358 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Calix in the fourth quarter valued at approximately $84,000. KBC Group NV increased its holdings in shares of Calix by 57.8% in the fourth quarter. KBC Group NV now owns 2,772 shares of the communications equipment provider's stock valued at $97,000 after purchasing an additional 1,015 shares during the last quarter. Finally, Summit Investment Advisors Inc. lifted its position in 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 buying an additional 465 shares in the last quarter. Institutional investors and hedge funds own 98.14% of the company's stock.

Calix Stock Up 1.2 %

NYSE CALX traded up $0.51 during trading on Friday, hitting $43.16. The stock had a trading volume of 638,980 shares, compared to its average volume of 689,959. The company has a market capitalization of $2.80 billion, a PE ratio of -95.91 and a beta of 1.38. The firm has a 50 day moving average price of $35.76 and a 200 day moving average price of $36.03. Calix, Inc. has a twelve month low of $28.61 and a twelve month high of $43.54.

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 for the quarter, topping the consensus estimate of $0.13 by $0.06. Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. The firm had revenue of $220.20 million for the quarter, compared to the consensus estimate of $206.98 million. During the same period in the prior year, the firm earned $0.21 EPS. On average, sell-side analysts anticipate that Calix, Inc. will post -0.43 earnings per share for the current year.

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

Insider Buying and Selling at Calix

In related 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 completion of the transaction, the director now owns 2,139,188 shares in the company, valued at approximately $84,690,452.92. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 16.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.