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

Rhumbline Advisers reduced its stake in shares of Calix, Inc. (NYSE:CALX) by 0.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 167,217 shares of the communications equipment provider’s stock after selling 1,314 shares during the period. Rhumbline Advisers owned approximately 0.25% of Calix worth $5,926,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Smartleaf Asset Management LLC grew its stake 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 buying an additional 640 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Calix in the fourth quarter valued at $84,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Calix in the fourth quarter valued at $208,000. Summit Investment Advisors Inc. grew its stake in shares of Calix by 8.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,224 shares of the communications equipment provider’s stock valued at $217,000 after buying an additional 465 shares in the last quarter. Finally, Cornerstone Investment Partners LLC bought a new position in shares of Calix in the fourth quarter valued at $218,000. 98.14% of the stock is currently owned by institutional investors and hedge funds.

Calix Price Performance

Calix stock opened at $48.16 on Friday. The business has a 50 day moving average of $41.87 and a 200-day moving average of $38.14. Calix, Inc. has a 1 year low of $28.61 and a 1 year high of $48.88. The company has a market capitalization of $3.12 billion, a P/E ratio of -107.02 and a beta of 1.35.

Calix (NYSE:CALX) last announced its earnings results on Monday, April 21st. The communications equipment provider reported $0.19 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $206.98 million. During the same period in the prior year, the business posted $0.21 earnings per share. Equities analysts anticipate that Calix, Inc. will post -0.43 EPS for the current year.

Calix declared that its Board of Directors has authorized a share repurchase program on Monday, April 21st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the communications equipment provider to purchase up to 4.5% of its shares through open market purchases. Shares buyback programs are typically a sign 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 stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $39.59, for a total transaction of $989,750.00. Following the transaction, the director now directly owns 2,139,188 shares in the company, valued at approximately $84,690,452.92. This represents a 1.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 16.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on CALX. JPMorgan Chase & Co. lifted their price objective 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. 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. Rosenblatt Securities lifted their price objective on shares of Calix from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday. UBS Group reaffirmed a “buy” rating on shares of Calix in a research report on Tuesday, April 22nd. Finally, Roth Capital set a $50.00 price objective on shares of Calix and gave the stock a “buy” rating in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Calix presently has an average rating of “Moderate Buy” and an average target price of $48.50.

About Calix

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.