Rhumbline Advisers Has $5.93 Million Stake in Calix, Inc. (NYSE:CALX)

Rhumbline Advisers trimmed its position in shares of Calix, Inc. (NYSE:CALX) by 0.8% during the first quarter, Holdings Channel.com reports. The firm owned 167,217 shares of the communications equipment provider’s stock after selling 1,314 shares during the period. Rhumbline Advisers’ holdings in Calix were worth $5,926,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CALX. Millennium Management LLC raised its position in Calix by 77.8% in the 4th quarter. Millennium Management LLC now owns 2,031,212 shares of the communications equipment provider’s stock valued at $70,828,000 after buying an additional 889,102 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Calix by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 7,977,769 shares of the communications equipment provider’s stock valued at $278,185,000 after purchasing an additional 412,982 shares during the last quarter. Balyasny Asset Management L.P. increased its position in shares of Calix by 711.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 436,036 shares of the communications equipment provider’s stock valued at $15,205,000 after purchasing an additional 382,301 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Calix by 105.7% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 708,723 shares of the communications equipment provider’s stock valued at $24,713,000 after purchasing an additional 364,209 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Calix during the 4th quarter valued at $11,518,000. 98.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CALX. Needham & Company LLC reaffirmed a “buy” rating and set a $53.00 target price on shares of Calix in a research report on Tuesday, April 22nd. Rosenblatt Securities raised their target price on Calix from $52.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. increased their price target on Calix from $34.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 23rd. UBS Group reiterated a “buy” rating on shares of Calix in a research note on Tuesday, April 22nd. Finally, Roth Capital set a $50.00 price target on Calix and gave the stock a “buy” rating in a research note on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.50.

Calix Stock Performance

CALX stock opened at $48.16 on Friday. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of -107.02 and a beta of 1.35. Calix, Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $48.88. The stock has a fifty day moving average of $41.87 and a 200-day moving average of $38.14.

Calix (NYSE:CALX) last issued its earnings results on Monday, April 21st. The communications equipment provider reported $0.19 EPS for the quarter, topping the consensus estimate of $0.13 by $0.06. Calix had a negative return on equity of 3.43% and a negative net margin of 3.58%. The business had revenue of $220.20 million during the quarter, compared to the consensus estimate of $206.98 million. During the same quarter last year, the company earned $0.21 EPS. Equities analysts predict that Calix, Inc. will post -0.43 EPS for the current year.

Calix declared that its Board of Directors has approved a stock repurchase program on Monday, April 21st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the communications equipment provider to buy up to 4.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Calix news, Director Carl Russo sold 25,000 shares of the firm’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $39.59, for a total value of $989,750.00. Following the completion of the transaction, the director now 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 through this hyperlink. 16.90% of the stock is owned by corporate insiders.

Calix 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.