Cornerstone Investment Partners LLC Buys Shares of 6,257 Calix, Inc. (NYSE:CALX)

Cornerstone Investment Partners LLC purchased a new position in Calix, Inc. (NYSE:CALX) in the fourth quarter, Holdings Channel.com reports. The firm purchased 6,257 shares of the communications equipment provider’s stock, valued at approximately $218,000.

Several other hedge funds have also recently made changes to their positions in CALX. Charles Schwab Investment Management Inc. grew its holdings in shares of Calix by 8.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 649,244 shares of the communications equipment provider’s stock worth $22,639,000 after acquiring an additional 48,098 shares during the period. Smartleaf Asset Management LLC boosted its position in Calix by 367.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider’s stock worth $28,000 after purchasing an additional 640 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Calix by 3.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,373,246 shares of the communications equipment provider’s stock valued at $47,885,000 after purchasing an additional 45,195 shares during the period. Y Intercept Hong Kong Ltd increased its position in shares of Calix by 23.0% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 24,592 shares of the communications equipment provider’s stock valued at $858,000 after purchasing an additional 4,597 shares during the last quarter. Finally, Principal Financial Group Inc. lifted 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 worth $10,025,000 after purchasing an additional 10,393 shares during the period. 98.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CALX. JPMorgan Chase & Co. boosted their target price on shares of Calix from $38.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Needham & Company LLC reissued a “buy” rating and set a $45.00 price objective on shares of Calix in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Calix presently has an average rating of “Moderate Buy” and an average target price of $43.17.

Insider Buying and Selling

In related news, Director Carl Russo sold 25,000 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $38.15, for a total transaction of $953,750.00. Following the completion of the transaction, the director now owns 2,164,188 shares in the company, valued at approximately $82,563,772.20. This represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.69% of the stock is currently owned by company insiders.

Calix Price Performance

Shares of CALX stock opened at $34.97 on Wednesday. Calix, Inc. has a one year low of $26.76 and a one year high of $42.50. The company’s fifty day moving average price is $38.07 and its 200-day moving average price is $36.62. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of -77.71 and a beta of 1.70.

Calix (NYSE:CALX) last issued its quarterly earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.31). Calix had a negative return on equity of 3.43% and a negative net margin of 3.58%. Equities research analysts expect that Calix, Inc. will post -0.43 earnings per share for the current fiscal year.

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.