BNP Paribas Financial Markets Grows Stock Holdings in Calix, Inc. (NYSE:CALX)

BNP Paribas Financial Markets grew its holdings in shares of Calix, Inc. (NYSE:CALX) by 102.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,004 shares of the communications equipment provider’s stock after buying an additional 25,800 shares during the quarter. BNP Paribas Financial Markets’ holdings in Calix were worth $1,779,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Divisar Capital Management LLC grew its stake in Calix by 32.6% during the fourth quarter. Divisar Capital Management LLC now owns 594,357 shares of the communications equipment provider’s stock worth $20,725,000 after buying an additional 146,249 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of Calix during the fourth quarter worth $208,000. Connors Investor Services Inc. lifted its position in shares of Calix by 26.2% during the fourth quarter. Connors Investor Services Inc. now owns 103,169 shares of the communications equipment provider’s stock worth $3,598,000 after purchasing an additional 21,433 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in shares of Calix during the fourth quarter worth $804,000. Finally, Northern Trust Corp lifted its position in shares of Calix by 9.4% during the fourth quarter. Northern Trust Corp now owns 632,486 shares of the communications equipment provider’s stock worth $22,055,000 after purchasing an additional 54,136 shares in the last quarter. 98.14% of the stock is currently owned by hedge funds and other institutional investors.

Calix Price Performance

CALX opened at $45.43 on Friday. The stock has a market capitalization of $2.94 billion, a PE ratio of -100.95 and a beta of 1.38. The firm’s fifty day moving average price is $37.03 and its 200 day moving average price is $36.29. Calix, Inc. has a 12-month low of $28.61 and a 12-month high of $45.62.

Calix (NYSE:CALX) last posted its quarterly earnings results on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.06. The firm 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 period in the prior year, the company posted $0.21 earnings per share. On average, equities research 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 repurchase plan on Monday, April 21st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the communications equipment provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the business’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 completion of the sale, the director now owns 2,139,188 shares in the company, valued at $84,690,452.92. The trade was a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 16.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on CALX shares. Rosenblatt Securities boosted their target price on shares of Calix from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. boosted 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. UBS Group reissued a “buy” rating on shares of Calix in a research report on Tuesday, April 22nd. Needham & Company LLC reissued a “buy” rating and set a $53.00 target price on shares of Calix in a research report on Tuesday, April 22nd. Finally, Roth Capital set a $50.00 target price on shares of Calix and gave the stock a “buy” rating in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.83.

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.