Russell Investments Group Ltd. Has $2.49 Million Holdings in Calix, Inc. (NYSE:CALX)

Russell Investments Group Ltd. trimmed its position in Calix, Inc. (NYSE:CALX - Free Report) by 42.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,337 shares of the communications equipment provider's stock after selling 52,776 shares during the period. Russell Investments Group Ltd. owned approximately 0.11% of Calix worth $2,488,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CALX. Smartleaf Asset Management LLC lifted 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 valued at $28,000 after purchasing an additional 640 shares during the period. Pacer Advisors Inc. grew its stake 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 acquired a new position in Calix during the fourth quarter worth about $84,000. FMR LLC increased its holdings in Calix by 49.0% in the third quarter. FMR LLC now owns 2,398 shares of the communications equipment provider's stock valued at $93,000 after buying an additional 789 shares in the last quarter. Finally, KBC Group NV lifted its position 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 valued at $97,000 after acquiring an additional 1,015 shares during the period. 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 firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $38.15, for a total value of $953,750.00. Following the transaction, the director now directly owns 2,164,188 shares of the company's stock, valued at approximately $82,563,772.20. This trade 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 the SEC website. Corporate insiders own 16.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Calix from $45.00 to $34.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Roth Capital set a $50.00 target price on shares of Calix and gave the company a "buy" rating in a report on Tuesday. Needham & Company LLC reaffirmed a "buy" rating and issued a $53.00 price target on shares of Calix in a report on Tuesday. Finally, Rosenblatt Securities boosted their price target on Calix from $51.00 to $52.00 and gave the company a "buy" rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $44.71.

Calix Trading Up 1.9 %

CALX stock traded up $0.70 during trading on Wednesday, hitting $38.31. The company had a trading volume of 273,522 shares, compared to its average volume of 753,220. Calix, Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $42.50. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of -85.13 and a beta of 1.75. The business has a 50 day moving average of $35.04 and a 200 day moving average of $35.79.

Calix (NYSE:CALX - Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The communications equipment provider reported $0.19 EPS for the quarter, topping the consensus estimate of $0.13 by $0.06. Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. The business had revenue of $220.20 million during the quarter, compared to analysts' expectations of $206.98 million. During the same period last year, the company posted $0.21 earnings per share. As a group, equities analysts predict that Calix, Inc. will post -0.43 EPS for the current year.

Calix declared that its board has initiated a share 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 reacquire 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.

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.