Calix, Inc. (NYSE:CALX) Shares Acquired by Nuveen Asset Management LLC

Nuveen Asset Management LLC increased its holdings in Calix, Inc. (NYSE:CALX) by 7.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 432,623 shares of the communications equipment provider’s stock after buying an additional 29,754 shares during the period. Nuveen Asset Management LLC owned about 0.65% of Calix worth $15,086,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Calix in the 4th quarter valued at about $512,000. HighTower Advisors LLC boosted its holdings in shares of Calix by 30.5% in the 4th quarter. HighTower Advisors LLC now owns 118,245 shares of the communications equipment provider’s stock valued at $4,123,000 after buying an additional 27,622 shares during the period. Amundi acquired a new position in shares of Calix in the 4th quarter valued at about $330,000. TradeLink Capital LLC acquired a new position in shares of Calix in the 4th quarter valued at about $299,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Calix by 3.8% in the 4th quarter. Principal Financial Group Inc. now owns 287,509 shares of the communications equipment provider’s stock valued at $10,025,000 after buying an additional 10,393 shares during the period. 98.14% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Carl Russo sold 25,000 shares of the stock in a transaction that occurred 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 directly owns 2,139,188 shares of the company’s stock, valued at $84,690,452.92. This represents 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 the SEC website. 16.90% of the stock is owned by insiders.

Analyst Ratings Changes

CALX has been the subject of a number of analyst reports. UBS Group reissued a “buy” rating on shares of Calix in a research note 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 note on Tuesday, April 22nd. Rosenblatt Securities boosted their target price on shares of Calix from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. boosted their target price on shares of Calix from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, April 23rd. Finally, Roth Capital set a $50.00 target price on shares of Calix and gave the company a “buy” rating in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.83.

Calix Trading Down 0.0%

CALX stock opened at $46.78 on Monday. Calix, Inc. has a 52 week low of $28.61 and a 52 week high of $47.34. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of -103.95 and a beta of 1.38. The firm’s 50-day moving average is $38.39 and its two-hundred day moving average is $36.70.

Calix (NYSE:CALX) last released its quarterly earnings results on Monday, April 21st. The communications equipment provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. The company had revenue of $220.20 million for the quarter, compared to the consensus estimate of $206.98 million. During the same period in the previous year, the firm earned $0.21 EPS. On average, equities research analysts predict that Calix, Inc. will post -0.43 earnings per share for the current year.

Calix announced that its board has approved 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 purchase up to 4.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are 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.