Bank of Montreal Can Buys 2,358 Shares of Calix, Inc. (NYSE:CALX)

Bank of Montreal Can boosted its stake in Calix, Inc. (NYSE:CALX) by 27.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,057 shares of the communications equipment provider’s stock after purchasing an additional 2,358 shares during the quarter. Bank of Montreal Can’s holdings in Calix were worth $386,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CALX. Smartleaf Asset Management LLC boosted its position in shares of Calix by 367.8% in the fourth 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. boosted its holdings in Calix by 29.8% in the 4th 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 position in shares of Calix during the 4th quarter valued at $84,000. FMR LLC increased its holdings in shares of Calix by 49.0% in the third quarter. FMR LLC now owns 2,398 shares of the communications equipment provider’s stock worth $93,000 after purchasing an additional 789 shares during the period. Finally, KBC Group NV raised its position in shares of Calix by 57.8% in the fourth quarter. KBC Group NV now owns 2,772 shares of the communications equipment provider’s stock worth $97,000 after buying an additional 1,015 shares in the last quarter. Hedge funds and other institutional investors own 98.14% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on CALX shares. JPMorgan Chase & Co. reduced their target price on Calix from $45.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Needham & Company LLC restated a “buy” rating and issued a $53.00 price objective on shares of Calix in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $42.67.

Insider Activity

In other news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $38.15, for a total value of $953,750.00. Following the completion of the sale, the director now owns 2,164,188 shares of the company’s stock, valued at approximately $82,563,772.20. The trade was a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 16.90% of the stock is owned by corporate insiders.

Calix Stock Up 13.0 %

Shares of CALX stock opened at $37.57 on Wednesday. The firm has a market cap of $2.50 billion, a P/E ratio of -83.48 and a beta of 1.75. The business has a 50-day moving average price of $35.04 and a two-hundred day moving average price of $35.79. Calix, Inc. has a 12-month low of $26.76 and a 12-month high of $42.50.

Calix (NYSE:CALX) last released its earnings results on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $220.20 million during the quarter, compared to the consensus estimate of $206.98 million. During the same quarter in the previous year, the company posted $0.21 EPS. As a group, research analysts expect that Calix, Inc. will post -0.43 EPS for the current fiscal year.

Calix announced that its Board of Directors has authorized a stock buyback plan on Monday, April 21st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the communications equipment provider to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

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.