Yousif Capital Management LLC Reduces Position in Calix, Inc (NYSE:CALX)

Yousif Capital Management LLC decreased its holdings in Calix, Inc (NYSE:CALX) by 2.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,820 shares of the communications equipment provider’s stock after selling 511 shares during the period. Yousif Capital Management LLC’s holdings in Calix were worth $773,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of CALX. Dynamic Technology Lab Private Ltd acquired a new position in shares of Calix during the 4th quarter valued at about $512,000. HighTower Advisors LLC raised its stake in Calix by 30.5% during the fourth quarter. HighTower Advisors LLC now owns 118,245 shares of the communications equipment provider’s stock worth $4,123,000 after purchasing an additional 27,622 shares during the period. Amundi acquired a new position in Calix in the 4th quarter valued at about $330,000. Principal Financial Group Inc. grew its stake 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. Finally, TradeLink Capital LLC acquired a new stake in shares of Calix during the 4th quarter worth approximately $299,000. 98.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 2,139,188 shares of the company’s stock, valued at $84,690,452.92. The trade was a 1.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 16.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CALX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped 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. UBS Group reaffirmed a “buy” rating on shares of Calix in a research note on Tuesday, April 22nd. Roth Capital set a $50.00 price target on Calix and gave the stock a “buy” rating in a report on Tuesday, April 22nd. Needham & Company LLC restated a “buy” rating and issued a $53.00 price objective on shares of Calix in a report on Tuesday, April 22nd. Finally, Rosenblatt Securities upped their target price on shares of Calix from $52.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, June 12th. 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.50.

Calix Trading Up 0.6%

CALX stock opened at $47.12 on Friday. The business’s fifty day moving average price is $43.28 and its 200 day moving average price is $38.65. Calix, Inc has a 12-month low of $28.61 and a 12-month high of $48.88. The company has a market capitalization of $3.05 billion, a PE ratio of -90.61 and a beta of 1.35.

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, beating the consensus estimate of $0.13 by $0.06. The company had revenue of $220.20 million during the quarter, compared to the consensus estimate of $206.98 million. Calix had a negative return on equity of 4.14% and a negative net margin of 4.20%. During the same period in the previous year, the company posted $0.21 EPS. Research analysts predict that Calix, Inc will post -0.43 EPS for the current fiscal year.

Calix declared that its Board of Directors has approved a share buyback program on Monday, April 21st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the communications equipment provider to purchase up to 4.5% of its shares through open market purchases. Shares buyback programs are typically an indication 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.