Assenagon Asset Management S.A. Grows Position in Calix, Inc. (NYSE:CALX)

Assenagon Asset Management S.A. boosted its stake in shares of Calix, Inc. (NYSE:CALX) by 8.8% during the 1st quarter, Holdings Channel reports. The firm owned 402,248 shares of the communications equipment provider’s stock after acquiring an additional 32,610 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Calix were worth $14,256,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd purchased a new stake in Calix during the 4th quarter worth approximately $512,000. HighTower Advisors LLC boosted its holdings in shares of Calix by 30.5% in the 4th quarter. HighTower Advisors LLC now owns 118,245 shares of the communications equipment provider’s stock valued at $4,123,000 after acquiring an additional 27,622 shares during the last quarter. Amundi purchased a new stake in shares of Calix in the 4th quarter valued at $330,000. Principal Financial Group Inc. boosted its holdings 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 valued at $10,025,000 after acquiring an additional 10,393 shares during the last quarter. Finally, TradeLink Capital LLC purchased a new stake in shares of Calix in the 4th quarter valued at $299,000. Hedge funds and other institutional investors own 98.14% of the company’s stock.

Insiders Place Their Bets

In other Calix news, Director Carl Russo sold 25,000 shares of the business’s 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 sale, the director now directly owns 2,139,188 shares in the company, valued at approximately $84,690,452.92. The trade was a 1.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.90% of the stock is currently owned by company insiders.

Calix Price Performance

CALX opened at $47.17 on Friday. The firm has a fifty day moving average price of $42.20 and a 200 day moving average price of $38.25. Calix, Inc. has a 1 year low of $28.61 and a 1 year high of $48.88. The stock has a market cap of $3.06 billion, a P/E ratio of -104.82 and a beta of 1.35.

Calix (NYSE:CALX) last posted its earnings results on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.06. The firm had revenue of $220.20 million during the quarter, compared to analysts’ expectations of $206.98 million. Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. During the same period in the previous year, the business posted $0.21 EPS. Equities analysts expect that Calix, Inc. will post -0.43 EPS for the current year.

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

Analysts Set New Price Targets

Several research firms have recently commented on CALX. Roth Capital set a $50.00 price objective on shares of Calix and gave the company a “buy” rating in a report on Tuesday, April 22nd. JPMorgan Chase & Co. upped their price objective on shares of Calix from $34.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, April 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Calix in a report on Tuesday, April 22nd. Rosenblatt Securities upped their price objective on shares of Calix from $52.00 to $56.00 and gave the company a “buy” rating in a report on Thursday. Finally, UBS Group reaffirmed a “buy” rating on shares of Calix in a report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.50.

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.