Epoch Investment Partners Inc. Cuts Holdings in Calix, Inc. (NYSE:CALX)

Epoch Investment Partners Inc. lessened its holdings in shares of Calix, Inc. (NYSE:CALX - Free Report) by 8.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 790,320 shares of the communications equipment provider's stock after selling 76,104 shares during the period. Epoch Investment Partners Inc. owned approximately 1.19% of Calix worth $27,558,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Smartleaf Asset Management LLC grew its stake 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 position in Calix by 29.8% during the fourth quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider's stock worth $54,000 after buying an additional 358 shares during the period. Quantbot Technologies LP purchased a new position in Calix in the fourth quarter valued at 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.

Insider Buying and Selling

In other news, Director Carl Russo sold 25,000 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $82,563,772.20. This represents a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 16.90% of the stock is currently owned by company insiders.

Calix Stock Up 5.9 %

Shares of CALX traded up $2.16 on Thursday, hitting $39.08. 1,991,250 shares of the stock traded hands, compared to its average volume of 797,023. Calix, Inc. has a 1 year low of $27.20 and a 1 year high of $42.50. The stock's 50 day moving average is $34.98 and its two-hundred day moving average is $35.79. The firm has a market capitalization of $2.60 billion, a P/E ratio of -86.84 and a beta of 1.75.

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

Calix declared that its Board of Directors has approved a stock repurchase program on Monday, April 21st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the communications equipment provider to buy up to 4.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

CALX has been the topic of a number of research reports. Roth Capital set a $50.00 price target on Calix and gave the stock a "buy" rating in a report on Tuesday. Rosenblatt Securities upped their target price on Calix from $51.00 to $52.00 and gave the company a "buy" rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on Calix from $34.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday. Finally, Needham & Company LLC reissued a "buy" rating and issued a $53.00 price objective on shares of Calix in a research note on Tuesday. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $45.29.

Calix 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.