Universal Beteiligungs und Servicegesellschaft mbH Makes New $292,000 Investment in Calix, Inc (NYSE:CALX)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Calix, Inc (NYSE:CALX) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,240 shares of the communications equipment provider’s stock, valued at approximately $292,000.

A number of other hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. increased its position in Calix by 93.0% during the 4th quarter. JPMorgan Chase & Co. now owns 246,199 shares of the communications equipment provider’s stock worth $8,585,000 after purchasing an additional 118,629 shares in the last quarter. Norges Bank acquired a new stake in shares of Calix during the 4th quarter worth about $11,518,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Calix during the fourth quarter worth about $1,079,000. Wellington Management Group LLP raised its position in shares of Calix by 0.6% in the fourth quarter. Wellington Management Group LLP now owns 202,274 shares of the communications equipment provider’s stock valued at $7,053,000 after buying an additional 1,135 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Calix by 18.3% in the fourth quarter. Franklin Resources Inc. now owns 15,780 shares of the communications equipment provider’s stock valued at $550,000 after buying an additional 2,437 shares during the last quarter. 98.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CALX shares. JPMorgan Chase & Co. raised their target price on shares of Calix from $38.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Rosenblatt Securities increased their price target on Calix from $56.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, July 22nd. Needham & Company LLC lifted their price objective on Calix from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, July 22nd. Wolfe Research began coverage on Calix in a research report on Monday, July 7th. They set a “peer perform” rating on the stock. 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 research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Calix currently has an average rating of “Moderate Buy” and a consensus target price of $59.25.

Calix Stock Up 2.5%

CALX stock opened at $57.46 on Tuesday. The company has a market cap of $3.75 billion, a price-to-earnings ratio of -143.65 and a beta of 1.27. The business has a fifty day simple moving average of $50.97 and a 200-day simple moving average of $42.60. Calix, Inc has a 52 week low of $28.60 and a 52 week high of $57.92.

Calix (NYSE:CALX) last released its quarterly earnings data on Monday, July 21st. The communications equipment provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.41. Calix had a negative return on equity of 3.21% and a negative net margin of 3.09%. The company had revenue of $241.90 million for the quarter, compared to the consensus estimate of $223.81 million. During the same period last year, the business posted $0.09 EPS. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. As a group, analysts expect that Calix, Inc will post -0.43 earnings per share for the current fiscal year.

Calix announced that its board has initiated a share repurchase 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 buy up to 4.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, CFO Cory Sindelar sold 10,000 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $56.00, for a total value of $560,000.00. Following the completion of the sale, the chief financial officer owned 76,285 shares of the company’s stock, valued at $4,271,960. This represents a 11.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carl Russo sold 25,000 shares of Calix stock in a transaction on Monday, July 28th. The shares were sold at an average price of $55.40, for a total transaction of $1,385,000.00. Following the transaction, the director owned 2,114,188 shares in the company, valued at $117,126,015.20. The trade was a 1.17% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,000 shares of company stock worth $2,465,000. 16.90% of the stock is currently owned by corporate insiders.

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.