74,985 Shares in Calix, Inc (NYSE:CALX) Acquired by Inspire Advisors LLC

Inspire Advisors LLC purchased a new position in shares of Calix, Inc (NYSE:CALX) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 74,985 shares of the communications equipment provider’s stock, valued at approximately $2,657,000. Inspire Advisors LLC owned about 0.12% of Calix as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Quantbot Technologies LP purchased a new position in Calix during the 4th quarter worth $84,000. American Century Companies Inc. grew its stake in Calix by 1.3% during the 4th quarter. American Century Companies Inc. now owns 117,545 shares of the communications equipment provider’s stock worth $4,099,000 after buying an additional 1,537 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Calix during the 4th quarter worth $425,000. Vanguard Group Inc. grew its stake in Calix by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 7,977,769 shares of the communications equipment provider’s stock worth $278,185,000 after buying an additional 412,982 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Calix by 93.0% during the 4th quarter. JPMorgan Chase & Co. now owns 246,199 shares of the communications equipment provider’s stock worth $8,585,000 after buying an additional 118,629 shares during the last quarter. 98.14% of the stock is owned by institutional investors.

Calix Price Performance

Shares of Calix stock opened at $55.28 on Friday. The business has a 50 day simple moving average of $49.79 and a two-hundred day simple moving average of $41.76. Calix, Inc has a 12 month low of $28.60 and a 12 month high of $57.90. The stock has a market capitalization of $3.61 billion, a P/E ratio of -138.20 and a beta of 1.37.

Calix (NYSE:CALX) last posted its quarterly earnings results on Monday, July 21st. The communications equipment provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.41. The business had revenue of $241.90 million during the quarter, compared to analyst estimates of $223.81 million. Calix had a negative return on equity of 3.21% and a negative net margin of 3.09%. The business’s revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.09 earnings per share. As a group, research analysts anticipate that Calix, Inc will post -0.43 EPS for the current fiscal year.

Calix announced that its board has approved a share buyback program 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 reacquire up to 4.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity at Calix

In other news, CFO Cory Sindelar sold 10,000 shares of the firm’s 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 completion of the transaction, the chief financial officer directly owned 76,285 shares in the company, valued at $4,271,960. This trade represents a 11.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carl Russo sold 25,000 shares of the firm’s stock in a transaction on Monday, April 28th. The shares were sold at an average price of $39.59, for a total value of $989,750.00. Following the completion of the sale, the director owned 2,139,188 shares in the company, valued at approximately $84,690,452.92. This represents a 1.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,000 shares of company stock valued at $2,069,750 over the last quarter. 16.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CALX has been the topic of several research analyst reports. UBS Group reiterated a “buy” rating on shares of Calix in a research note on Tuesday, April 22nd. Needham & Company LLC boosted their price target on Calix from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd. Roth Capital set a $50.00 price target on Calix and gave the company a “buy” rating in a research note on Tuesday, April 22nd. Wolfe Research began coverage on Calix in a research note on Monday, July 7th. They set a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. upped 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. Two investment 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.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.25.

Calix Company Profile

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.