Calix, Inc. (NYSE:CALX) Shares Acquired by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD increased its holdings in Calix, Inc. (NYSE:CALX) by 10.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 43,189 shares of the communications equipment provider’s stock after acquiring an additional 4,040 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.07% of Calix worth $1,507,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its holdings in shares of Calix by 29.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider’s stock worth $54,000 after purchasing an additional 358 shares during the period. Summit Investment Advisors Inc. boosted its stake in 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 buying an additional 465 shares during the period. Atria Investments Inc increased its position in shares of Calix by 7.1% during the fourth quarter. Atria Investments Inc now owns 7,120 shares of the communications equipment provider’s stock valued at $248,000 after acquiring an additional 469 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of 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. Finally, Inspire Investing LLC lifted its holdings in shares of Calix by 9.2% in the 4th quarter. Inspire Investing LLC now owns 11,613 shares of the communications equipment provider’s stock worth $405,000 after acquiring an additional 978 shares during the last quarter. Institutional investors and hedge funds own 98.14% of the company’s stock.

Insider Buying and Selling

In other Calix news, Director Carl Russo sold 25,000 shares of Calix 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 16.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Calix Price Performance

CALX stock opened at $42.67 on Friday. The company has a market cap of $2.77 billion, a price-to-earnings ratio of -94.81 and a beta of 1.38. The company has a fifty day moving average price of $35.59 and a 200 day moving average price of $36.01. Calix, Inc. has a 12 month low of $28.61 and a 12 month high of $42.85.

Calix (NYSE:CALX) last announced its earnings results on Monday, April 21st. The communications equipment provider reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. The business had revenue of $220.20 million during 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 earned $0.21 earnings per share. As a group, analysts anticipate that Calix, Inc. will post -0.43 earnings per share for the current year.

Calix announced that its board has authorized a share buyback plan on Monday, April 21st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the communications equipment provider to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors 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.