Trigran Investments Inc. Sells 20,665 Shares of Calix, Inc. (NYSE:CALX)

Trigran Investments Inc. lessened its position in shares of Calix, Inc. (NYSE:CALX - Free Report) by 2.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 721,648 shares of the communications equipment provider's stock after selling 20,665 shares during the quarter. Calix comprises 2.9% of Trigran Investments Inc.'s portfolio, making the stock its 15th biggest holding. Trigran Investments Inc. owned approximately 1.09% of Calix worth $25,164,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CALX. Smartleaf Asset Management LLC grew its position in Calix by 367.8% in 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 in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Calix by 29.8% in 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 period. Quantbot Technologies LP bought a new position in shares of Calix during the 4th quarter valued at approximately $84,000. FMR LLC raised its holdings in Calix by 49.0% during the 3rd quarter. FMR LLC now owns 2,398 shares of the communications equipment provider's stock valued at $93,000 after buying an additional 789 shares during the period. Finally, KBC Group NV lifted its position in Calix by 57.8% in the fourth quarter. KBC Group NV now owns 2,772 shares of the communications equipment provider's stock worth $97,000 after buying an additional 1,015 shares during the last quarter. Institutional investors own 98.14% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Rosenblatt Securities increased their target price on shares of Calix from $51.00 to $52.00 and gave the company a "buy" rating in a research note on Wednesday. Needham & Company LLC reissued a "buy" rating and issued a $53.00 price objective on shares of Calix in a research report on Tuesday. Roth Capital set a $50.00 target price on Calix and gave the company a "buy" rating in a research report on Tuesday. JPMorgan Chase & Co. increased their price target on Calix from $34.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, UBS Group restated a "buy" rating on shares of Calix in a report on Tuesday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $45.29.

Calix Stock Up 2.6 %

Shares of CALX stock traded up $1.03 on Friday, hitting $40.08. The stock had a trading volume of 549,201 shares, compared to its average volume of 677,859. Calix, Inc. has a one year low of $27.20 and a one year high of $42.50. The business has a 50 day moving average price of $34.97 and a 200 day moving average price of $35.81. The company has a market cap of $2.67 billion, a PE ratio of -89.07 and a beta of 1.75.

Calix (NYSE:CALX - Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The communications equipment provider reported $0.19 EPS for the quarter, beating 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 business had revenue of $220.20 million during the quarter, compared to analyst estimates of $206.98 million. During the same quarter in the previous year, the business posted $0.21 EPS. Equities research analysts expect that Calix, Inc. will post -0.43 EPS for the current year.

Calix declared that its board has initiated a stock repurchase plan on Monday, April 21st that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the communications equipment provider to buy up to 4.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Carl Russo sold 25,000 shares of the business's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $38.15, for a total value of $953,750.00. Following the completion of the transaction, the director now directly owns 2,164,188 shares of the company's stock, valued at approximately $82,563,772.20. The trade was a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 16.90% of the stock is owned by company insiders.

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.