Stifel Financial Corp Increases Stake in Calix, Inc. (NYSE:CALX)

Stifel Financial Corp grew its position in Calix, Inc. (NYSE:CALX) by 10.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 19,512 shares of the communications equipment provider’s stock after buying an additional 1,924 shares during the period. Stifel Financial Corp’s holdings in Calix were worth $680,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Calix by 5.5% in the 4th 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 last quarter. Norges Bank purchased a new position in shares of Calix in the fourth quarter worth $11,518,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings 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 valued at $9,282,000 after purchasing an additional 256,829 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Calix by 57.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 644,984 shares of the communications equipment provider’s stock valued at $22,490,000 after buying an additional 234,521 shares during the last quarter. Finally, JPMorgan Chase & Co. increased 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 worth $8,585,000 after buying an additional 118,629 shares in the last quarter. Institutional investors own 98.14% of the company’s stock.

Insider Transactions at Calix

In other news, Director Carl Russo sold 25,000 shares of the firm’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 value of $989,750.00. Following the completion of the sale, the director now directly owns 2,139,188 shares of the company’s stock, valued at $84,690,452.92. This trade represents a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 16.90% of the company’s stock.

Analyst Ratings Changes

CALX has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $53.00 price target on shares of Calix in a report on Tuesday, April 22nd. JPMorgan Chase & Co. lifted their target price on shares of Calix from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 23rd. Roth Capital set a $50.00 price target on Calix and gave the company a “buy” rating in a report on Tuesday, April 22nd. Rosenblatt Securities lifted their price objective on Calix from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Finally, UBS Group reissued a “buy” rating on shares of Calix in a report on Tuesday, April 22nd. 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, Calix presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.83.

Calix Stock Up 1.2 %

NYSE CALX opened at $43.16 on Friday. Calix, Inc. has a 52 week low of $28.61 and a 52 week high of $43.54. The company has a market capitalization of $2.80 billion, a P/E ratio of -95.91 and a beta of 1.38. The stock’s 50-day moving average price is $35.76 and its 200-day moving average price is $36.04.

Calix (NYSE:CALX) last released its earnings results on Monday, April 21st. The communications equipment provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. The company had revenue of $220.20 million for the quarter, compared to analysts’ expectations of $206.98 million. Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. During the same quarter last year, the business earned $0.21 EPS. Research analysts anticipate that Calix, Inc. will post -0.43 EPS for the current year.

Calix declared that its board has authorized a share buyback plan on Monday, April 21st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the communications equipment provider to buy up to 4.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

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.