Calix, Inc. (NYSE:CALX) Shares Sold by Comerica Bank

Comerica Bank reduced its position in Calix, Inc. (NYSE:CALX) by 3.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 20,445 shares of the communications equipment provider’s stock after selling 839 shares during the quarter. Comerica Bank’s holdings in Calix were worth $713,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Smartleaf Asset Management LLC increased its position in Calix by 367.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider’s stock valued at $28,000 after acquiring an additional 640 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Calix by 29.8% in the fourth quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider’s stock valued at $54,000 after purchasing an additional 358 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Calix during the fourth quarter worth approximately $84,000. KBC Group NV lifted 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 worth $97,000 after purchasing an additional 1,015 shares during the period. Finally, Summit Investment Advisors Inc. lifted its holdings in shares of Calix by 8.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,224 shares of the communications equipment provider’s stock worth $217,000 after purchasing an additional 465 shares during the period. 98.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Calix news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $39.59, for a total transaction of $989,750.00. Following the completion of the sale, the director now owns 2,139,188 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 16.90% of the company’s stock.

Calix Stock Up 1.6%

CALX stock opened at $44.89 on Wednesday. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of -99.75 and a beta of 1.38. Calix, Inc. has a 52-week low of $28.61 and a 52-week high of $45.20. The stock’s fifty day simple moving average is $36.18 and its 200-day simple moving average is $36.13.

Calix (NYSE:CALX) 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. The company had revenue of $220.20 million during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business earned $0.21 EPS. As a group, analysts anticipate that Calix, Inc. will post -0.43 earnings per share for the current fiscal year.

Calix announced that its board has initiated a stock repurchase program on Monday, April 21st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the communications equipment provider to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have recently weighed in on CALX. 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. UBS Group reaffirmed a “buy” rating on shares of Calix in a report on Tuesday, April 22nd. Roth Capital set a $50.00 target price on Calix and gave the stock a “buy” rating in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. raised their price target on Calix from $34.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, April 23rd. Finally, Rosenblatt Securities upped 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. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.83.

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.