D. E. Shaw & Co. Inc. Makes New $3.84 Million Investment in Calix, Inc. (NYSE:CALX)

D. E. Shaw & Co. Inc. purchased a new stake in shares of Calix, Inc. (NYSE:CALX) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 110,231 shares of the communications equipment provider’s stock, valued at approximately $3,844,000.

A number of other institutional investors have also recently made changes to their positions in CALX. Barclays PLC grew its holdings in shares of Calix by 184.0% during the third quarter. Barclays PLC now owns 113,579 shares of the communications equipment provider’s stock valued at $4,404,000 after buying an additional 73,588 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Calix during the fourth quarter valued at approximately $391,000. Inspire Investing LLC grew its holdings in shares of Calix by 9.2% during the fourth quarter. Inspire Investing LLC now owns 11,613 shares of the communications equipment provider’s stock valued at $405,000 after buying an additional 978 shares during the last quarter. KBC Group NV grew its holdings in shares of Calix by 57.8% during the fourth quarter. KBC Group NV now owns 2,772 shares of the communications equipment provider’s stock valued at $97,000 after buying an additional 1,015 shares during the last quarter. Finally, Pacer Advisors Inc. grew its holdings in shares of Calix by 29.8% during the fourth quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider’s stock valued at $54,000 after buying an additional 358 shares during the last quarter. Hedge funds and other institutional investors own 98.14% of the company’s stock.

Wall Street Analyst Weigh In

CALX has been the topic of a number of research analyst reports. Roth Capital set a $50.00 price objective on shares of Calix and gave the company a “buy” rating in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. increased their price objective on shares of Calix from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, April 23rd. UBS Group restated a “buy” rating on shares of Calix in a research report on Tuesday, April 22nd. Needham & Company LLC restated a “buy” rating and set a $53.00 price objective on shares of Calix in a research report on Tuesday, April 22nd. Finally, Rosenblatt Securities increased their price objective on shares of Calix from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Calix currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.83.

Insiders Place Their Bets

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

Calix Trading Up 0.4%

CALX opened at $45.43 on Monday. Calix, Inc. has a 1-year low of $28.61 and a 1-year high of $45.62. The company has a market capitalization of $2.94 billion, a PE ratio of -100.95 and a beta of 1.38. The firm’s 50 day simple moving average is $37.03 and its two-hundred day simple moving average is $36.29.

Calix (NYSE:CALX) last released its quarterly 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 business had revenue of $220.20 million for the quarter, compared to the consensus estimate of $206.98 million. During the same period last year, the firm earned $0.21 earnings per share. Equities analysts forecast that Calix, Inc. will post -0.43 earnings per share for the current fiscal year.

Calix announced that its Board of Directors has approved a stock 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 repurchase up to 4.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.