Calix, Inc (NYSE:CALX) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its holdings in Calix, Inc (NYSE:CALX) by 332.9% in the 1st quarter, Holdings Channel reports. The firm owned 286,719 shares of the communications equipment provider’s stock after purchasing an additional 220,491 shares during the period. New York State Common Retirement Fund’s holdings in Calix were worth $10,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Millennium Management LLC lifted its position in Calix by 77.8% during the 4th quarter. Millennium Management LLC now owns 2,031,212 shares of the communications equipment provider’s stock worth $70,828,000 after acquiring an additional 889,102 shares during the period. Vanguard Group Inc. raised its stake in shares of Calix by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 7,977,769 shares of the communications equipment provider’s stock worth $278,185,000 after purchasing an additional 412,982 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in shares of Calix by 711.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 436,036 shares of the communications equipment provider’s stock worth $15,205,000 after purchasing an additional 382,301 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Calix by 105.7% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 708,723 shares of the communications equipment provider’s stock worth $24,713,000 after purchasing an additional 364,209 shares during the period. Finally, Norges Bank purchased a new position in Calix in the 4th quarter valued at $11,518,000. Institutional investors and hedge funds own 98.14% of the company’s stock.

Insider Buying and Selling

In other news, CFO Cory Sindelar sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $52.00, for a total transaction of $520,000.00. Following the sale, the chief financial officer owned 76,285 shares of the company’s stock, valued at $3,966,820. The trade was a 11.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carl Russo sold 25,000 shares of the business’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 sale, the director directly owned 2,139,188 shares in the company, valued at $84,690,452.92. This trade represents a 1.16% decrease in their position. The disclosure for this sale can be found here. 16.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CALX has been the topic of several recent research reports. Rosenblatt Securities reissued a “buy” rating and issued a $56.00 price objective on shares of Calix in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $53.00 target price on shares of Calix in a report on Tuesday, April 22nd. Roth Capital set a $50.00 price target on shares of Calix and gave the stock a “buy” rating in a report on Tuesday, April 22nd. Wall Street Zen downgraded shares of Calix from a “buy” rating to a “hold” rating in a research report on Saturday, July 12th. Finally, Wolfe Research initiated coverage on Calix in a report on Monday, July 7th. They issued a “peer perform” rating on the stock. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.83.

Calix Stock Performance

Shares of NYSE CALX opened at $53.73 on Friday. Calix, Inc has a one year low of $28.61 and a one year high of $54.27. The firm has a market capitalization of $3.48 billion, a P/E ratio of -103.33 and a beta of 1.37. The company’s fifty day moving average is $48.75 and its two-hundred day moving average is $41.06.

Calix (NYSE:CALX) last released its quarterly earnings data 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. Calix had a negative net margin of 4.20% and a negative return on equity of 4.14%. The firm had revenue of $220.20 million for the quarter, compared to the consensus estimate of $206.98 million. During the same quarter in the previous year, the firm earned $0.21 earnings per share. On average, sell-side analysts forecast that Calix, Inc will post -0.43 earnings per share for the current fiscal year.

Calix announced that its board has authorized a stock buyback 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 reacquire up to 4.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are 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.