Calix, Inc. (NYSE:CALX) Shares Bought by North Star Asset Management Inc.

North Star Asset Management Inc. grew its stake in shares of Calix, Inc. (NYSE:CALX) by 3.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,390 shares of the communications equipment provider’s stock after acquiring an additional 2,727 shares during the quarter. North Star Asset Management Inc. owned about 0.14% of Calix worth $3,222,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its holdings in shares of Calix by 367.8% during the 4th 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 period. Pacer Advisors Inc. grew its holdings in shares of Calix by 29.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider’s stock worth $54,000 after purchasing an additional 358 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Calix during the 4th quarter worth about $84,000. KBC Group NV grew its holdings in shares of Calix by 57.8% during the 4th quarter. KBC Group NV now owns 2,772 shares of the communications equipment provider’s stock worth $97,000 after purchasing an additional 1,015 shares during the period. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of Calix during the 4th quarter worth about $208,000. Institutional investors and hedge funds own 98.14% of the company’s stock.

Calix Stock Down 0.0%

NYSE CALX opened at $46.78 on Friday. The stock has a market cap of $3.03 billion, a PE ratio of -103.95 and a beta of 1.38. Calix, Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $47.34. The business has a 50 day moving average price of $38.39 and a two-hundred day moving average price of $36.67.

Calix (NYSE:CALX) last released its earnings results on Monday, April 21st. The communications equipment provider reported $0.19 EPS 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 analysts’ expectations of $206.98 million. Calix had a negative return on equity of 3.43% and a negative net margin of 3.58%. During the same period in the prior year, the business posted $0.21 EPS. Sell-side analysts anticipate that Calix, Inc. will post -0.43 EPS for the current fiscal year.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on CALX. JPMorgan Chase & Co. boosted their target price on Calix from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, April 23rd. UBS Group reiterated a “buy” rating on shares of Calix in a report on Tuesday, April 22nd. Needham & Company LLC restated a “buy” rating and issued a $53.00 price target on shares of Calix in a report 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. Finally, Rosenblatt Securities upped their price target on Calix from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $47.83.

Insider Activity

In other news, Director Carl Russo sold 25,000 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $84,690,452.92. This represents a 1.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 16.90% of the company’s stock.

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.