US Bancorp DE Has $261,000 Stake in Calix, Inc (NYSE:CALX)

US Bancorp DE raised its stake in shares of Calix, Inc (NYSE:CALX) by 37.1% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 7,372 shares of the communications equipment provider’s stock after purchasing an additional 1,996 shares during the period. US Bancorp DE’s holdings in Calix were worth $261,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CALX. Franklin Resources Inc. boosted its stake in Calix by 18.3% during the 4th quarter. Franklin Resources Inc. now owns 15,780 shares of the communications equipment provider’s stock valued at $550,000 after purchasing an additional 2,437 shares during the last quarter. Bank of Montreal Can boosted its stake in Calix by 27.1% during the 4th quarter. Bank of Montreal Can now owns 11,057 shares of the communications equipment provider’s stock valued at $386,000 after purchasing an additional 2,358 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in Calix by 8.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,224 shares of the communications equipment provider’s stock valued at $217,000 after purchasing an additional 465 shares during the last quarter. Barclays PLC boosted its stake in Calix by 88.9% during the 4th quarter. Barclays PLC now owns 214,511 shares of the communications equipment provider’s stock valued at $7,480,000 after purchasing an additional 100,932 shares during the last quarter. Finally, Jump Financial LLC boosted its stake in Calix by 159.6% during the 4th quarter. Jump Financial LLC now owns 76,963 shares of the communications equipment provider’s stock valued at $2,684,000 after purchasing an additional 47,318 shares during the last quarter. Institutional investors and hedge funds own 98.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Rosenblatt Securities boosted their target price on Calix from $56.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, July 22nd. Wolfe Research assumed coverage on Calix in a research note on Monday, July 7th. They issued a “peer perform” rating on the stock. UBS Group restated a “buy” rating on shares of Calix in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. boosted their target price on Calix from $38.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Finally, Needham & Company LLC boosted their target price on Calix from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, July 22nd. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Calix currently has a consensus rating of “Moderate Buy” and an average price target of $59.25.

Insider Activity at Calix

In other Calix news, CFO Cory Sindelar sold 10,000 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $56.00, for a total transaction of $560,000.00. Following the sale, the chief financial officer owned 76,285 shares in the company, 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 SEC, which is available at this link. Also, Director Carl Russo sold 25,000 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $55.40, for a total value of $1,385,000.00. Following the sale, the director owned 2,114,188 shares in the company, valued at approximately $117,126,015.20. This represents a 1.17% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,000 shares of company stock worth $2,465,000. 16.90% of the stock is owned by company insiders.

Calix Trading Down 3.5%

Calix stock opened at $56.80 on Friday. Calix, Inc has a 12 month low of $28.60 and a 12 month high of $59.30. The business’s 50 day simple moving average is $52.59 and its 200 day simple moving average is $43.58. The company has a market cap of $3.71 billion, a price-to-earnings ratio of -141.99 and a beta of 1.27.

Calix (NYSE:CALX) last posted its quarterly earnings data on Monday, July 21st. The communications equipment provider reported $0.33 EPS for the quarter, beating the consensus estimate 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 business had revenue of $241.90 million for the quarter, compared to the consensus estimate of $223.81 million. During the same quarter in the prior year, the business earned $0.09 earnings per share. Calix’s revenue for the quarter was up 22.1% on a year-over-year basis. As a group, equities research analysts forecast that Calix, Inc will post -0.43 earnings per share for the current fiscal year.

Calix announced that its board has initiated a stock repurchase program on Monday, April 21st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the communications equipment provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.