Susquehanna Fundamental Investments LLC Takes $924,000 Position in Calix, Inc. (NYSE:CALX)

Susquehanna Fundamental Investments LLC purchased a new stake in Calix, Inc. (NYSE:CALX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 26,488 shares of the communications equipment provider's stock, valued at approximately $924,000.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Calix by 5.5% during 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 acquiring an additional 412,982 shares during the period. Norges Bank purchased a new position in shares of Calix in the 4th quarter valued at $11,518,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of 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 acquiring an additional 256,829 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of 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 worth $22,490,000 after buying an additional 234,521 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Calix by 93.0% in the 4th quarter. JPMorgan Chase & Co. now owns 246,199 shares of the communications equipment provider's stock valued at $8,585,000 after purchasing an additional 118,629 shares during the period. 98.14% of the stock is owned by institutional investors and hedge funds.

Calix Trading Up 0.3 %

CALX stock traded up $0.14 on Thursday, hitting $42.27. 92,860 shares of the company's stock traded hands, compared to its average volume of 685,852. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of -93.93 and a beta of 1.38. The stock has a fifty day moving average of $35.46 and a 200-day moving average of $35.99. Calix, Inc. has a 1-year low of $28.61 and a 1-year high of $42.57.

Calix (NYSE:CALX - Get Free Report) last released its earnings results on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.06. The company 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 period in the prior year, the firm posted $0.21 EPS. On average, equities research analysts anticipate that Calix, Inc. will post -0.43 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. UBS Group restated a "buy" rating on shares of Calix in a research report on Tuesday, April 22nd. Roth Capital set a $50.00 target price on shares of Calix and gave the stock a "buy" rating in a report on Tuesday, April 22nd. Rosenblatt Securities raised their target price on Calix from $51.00 to $52.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. increased their price objective on Calix from $34.00 to $38.00 and gave the company a "neutral" rating in a research note on Wednesday, April 23rd. Finally, Needham & Company LLC reissued a "buy" rating and set a $53.00 price objective 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 issued a buy rating to the company's stock. According to MarketBeat.com, Calix presently has an average rating of "Moderate Buy" and a consensus target price of $47.83.

Insider Activity

In other Calix news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction on Monday, April 28th. The shares were sold at an average price of $39.59, for a total value of $989,750.00. Following the transaction, the director now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 16.90% of the company's stock.

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.