Calix, Inc. (NYSE:CALX) Stock Position Boosted by Formula Growth Ltd.

Formula Growth Ltd. increased its position in shares of Calix, Inc. (NYSE:CALX - Free Report) by 55.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 155,000 shares of the communications equipment provider's stock after buying an additional 55,000 shares during the quarter. Calix comprises 1.8% of Formula Growth Ltd.'s investment portfolio, making the stock its 9th biggest holding. Formula Growth Ltd. owned about 0.23% of Calix worth $5,405,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CALX. FMR LLC boosted its stake in shares of Calix by 49.0% during the third quarter. FMR LLC now owns 2,398 shares of the communications equipment provider's stock worth $93,000 after buying an additional 789 shares during the period. Stifel Financial Corp grew its stake in shares of Calix by 113.2% in the 3rd quarter. Stifel Financial Corp now owns 17,588 shares of the communications equipment provider's stock valued at $682,000 after purchasing an additional 9,339 shares during the last quarter. Barclays PLC increased its holdings in shares of Calix by 184.0% in the third quarter. Barclays PLC now owns 113,579 shares of the communications equipment provider's stock valued at $4,404,000 after purchasing an additional 73,588 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Calix by 1.1% during the third quarter. Geode Capital Management LLC now owns 1,331,565 shares of the communications equipment provider's stock worth $51,661,000 after purchasing an additional 14,725 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Calix by 46.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 127,570 shares of the communications equipment provider's stock valued at $4,948,000 after buying an additional 40,306 shares during the last quarter. Hedge funds and other institutional investors own 98.14% of the company's stock.

Insider Transactions at Calix

In other news, Director Carl Russo sold 25,000 shares of the company's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $38.15, for a total value of $953,750.00. Following the sale, the director now directly owns 2,164,188 shares in the company, valued at $82,563,772.20. This 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 is available through the SEC website. Corporate insiders own 16.90% of the company's stock.

Wall Street Analysts Forecast Growth

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

Calix Price Performance

Calix stock traded up $1.86 during trading hours on Thursday, hitting $38.78. The stock had a trading volume of 1,109,719 shares, compared to its average volume of 784,987. Calix, Inc. has a 1-year low of $27.20 and a 1-year high of $42.50. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -86.28 and a beta of 1.75. The stock's fifty day moving average is $34.98 and its two-hundred day moving average is $35.79.

Calix (NYSE:CALX - Get Free Report) last issued its quarterly earnings data on Monday, April 21st. The communications equipment provider reported $0.19 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $220.20 million for the quarter, compared to analysts' expectations of $206.98 million. During the same period in the prior year, the company earned $0.21 EPS. As a group, sell-side analysts anticipate that Calix, Inc. will post -0.43 EPS for the current year.

Calix announced that its board has initiated a stock 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 purchase up to 4.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

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.