Invesco Ltd. Sells 536,155 Shares of Calix, Inc. (NYSE:CALX)

Invesco Ltd. decreased its holdings in shares of Calix, Inc. (NYSE:CALX - Free Report) by 69.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 238,948 shares of the communications equipment provider's stock after selling 536,155 shares during the quarter. Invesco Ltd. owned about 0.36% of Calix worth $8,332,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC increased its position in Calix by 367.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider's stock worth $28,000 after acquiring an additional 640 shares during the period. Pacer Advisors Inc. increased its holdings 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 bought a new position in shares of Calix during the 4th quarter worth about $84,000. KBC Group NV raised its position in shares of Calix by 57.8% during the fourth quarter. KBC Group NV now owns 2,772 shares of the communications equipment provider's stock valued at $97,000 after buying an additional 1,015 shares during the last quarter. Finally, Cornerstone Investment Partners LLC bought a new stake in shares of Calix in the fourth quarter valued at about $218,000. Institutional investors and hedge funds own 98.14% of the company's stock.

Calix Trading Up 1.6 %

Shares of CALX stock traded up $0.61 on Friday, reaching $39.66. The company had a trading volume of 1,453,897 shares, compared to its average volume of 679,196. Calix, Inc. has a 12 month low of $27.60 and a 12 month high of $42.50. The stock has a market cap of $2.64 billion, a PE ratio of -88.13 and a beta of 1.75. The company has a 50-day moving average of $34.97 and a 200-day moving average of $35.82.

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

Calix declared that its board has authorized a stock buyback plan on Monday, April 21st that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the communications equipment provider to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

CALX has been the topic of several analyst reports. Rosenblatt Securities boosted their price target on shares of 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 objective on Calix from $34.00 to $38.00 and gave the company a "neutral" rating in a report on Wednesday. Roth Capital set a $50.00 price objective on Calix and gave the company a "buy" rating in a research note on Tuesday. UBS Group restated a "buy" rating on shares of Calix in a research report on Tuesday, April 22nd. Finally, Needham & Company LLC restated a "buy" rating and issued a $53.00 target price on shares of Calix in a research note on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $47.83.

Insider Activity at Calix

In other news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction that occurred on Thursday, February 27th. The stock was 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 directly owns 2,164,188 shares in the company, valued at approximately $82,563,772.20. The trade was a 1.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 16.90% of the stock is owned by company insiders.

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.