MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stock Holdings in Calix, Inc. (NYSE:CALX)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Calix, Inc. (NYSE:CALX) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 551,545 shares of the communications equipment provider’s stock after purchasing an additional 29,325 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Calix were worth $19,232,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Calix by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 7,977,769 shares of the communications equipment provider’s stock valued at $278,185,000 after purchasing an additional 412,982 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Calix by 711.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 436,036 shares of the communications equipment provider’s stock worth $15,205,000 after acquiring an additional 382,301 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Calix by 105.7% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 708,723 shares of the communications equipment provider’s stock worth $24,713,000 after acquiring an additional 364,209 shares during the period. Norges Bank acquired a new stake in shares of Calix in the fourth quarter valued at $11,518,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Calix by 2,741.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 266,197 shares of the communications equipment provider’s stock valued at $9,282,000 after purchasing an additional 256,829 shares in the last quarter. 98.14% of the stock is currently 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 dated Monday, April 28th. The stock was sold at an average price of $39.59, for a total value of $989,750.00. Following the transaction, the director now owns 2,139,188 shares in the company, valued at $84,690,452.92. The trade was a 1.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 16.90% of the stock is currently owned by corporate insiders.

Calix Price Performance

NYSE CALX opened at $44.76 on Thursday. The firm’s fifty day moving average price is $36.44 and its 200 day moving average price is $36.19. Calix, Inc. has a 12 month low of $28.61 and a 12 month high of $45.38. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of -99.46 and a beta of 1.38.

Calix (NYSE:CALX) last issued its quarterly earnings data on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, topping 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 company had revenue of $220.20 million for the quarter, compared to analyst estimates of $206.98 million. During the same quarter last year, the company posted $0.21 earnings per share. As a group, sell-side analysts forecast that Calix, Inc. will post -0.43 earnings per share for the current year.

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

Analyst Ratings Changes

Several research analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Calix from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, April 23rd. Roth Capital set a $50.00 target price on shares of Calix and gave the stock a “buy” rating in a research note on Tuesday, April 22nd. Rosenblatt Securities increased their target price on Calix from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. UBS Group restated a “buy” rating on shares of Calix in a research note on Tuesday, April 22nd. Finally, 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. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.83.

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.