KLP Kapitalforvaltning AS Takes Position in Calix, Inc. (NYSE:CALX)

KLP Kapitalforvaltning AS acquired a new position in shares of Calix, Inc. (NYSE:CALX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 12,200 shares of the communications equipment provider's stock, valued at approximately $425,000.

A number of other institutional investors also recently bought and sold shares of CALX. Bank of New York Mellon Corp raised its stake in shares of Calix by 3.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,373,246 shares of the communications equipment provider's stock worth $47,885,000 after purchasing an additional 45,195 shares during the last quarter. Geode Capital Management LLC increased its stake in Calix by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,331,565 shares of the communications equipment provider's stock valued at $51,661,000 after buying an additional 14,725 shares during the period. Charles Schwab Investment Management Inc. raised its position in Calix by 8.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 649,244 shares of the communications equipment provider's stock worth $22,639,000 after buying an additional 48,098 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Calix by 3.8% in the 4th quarter. Principal Financial Group Inc. now owns 287,509 shares of the communications equipment provider's stock worth $10,025,000 after acquiring an additional 10,393 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Calix by 2,741.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 266,197 shares of the communications equipment provider's stock valued at $9,282,000 after acquiring an additional 256,829 shares in the last quarter. 98.14% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, Director Carl Russo sold 25,000 shares of the company's stock in a transaction that occurred 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 owns 2,164,188 shares of the company's stock, valued at approximately $82,563,772.20. This represents a 1.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 17.04% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CALX. JPMorgan Chase & Co. increased their price target on shares of Calix from $38.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Needham & Company LLC reissued a "buy" rating and set a $45.00 target price on shares of Calix in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $43.17.

Calix Stock Performance

CALX stock traded up $3.60 during trading on Wednesday, reaching $34.85. 962,602 shares of the company were exchanged, compared to its average volume of 668,342. The stock's 50 day moving average price is $36.28 and its 200 day moving average price is $36.04. Calix, Inc. has a 52-week low of $26.76 and a 52-week high of $42.50. The company has a market cap of $2.32 billion, a P/E ratio of -77.44 and a beta of 1.75.

Calix (NYSE:CALX - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.31). Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. As a group, equities research analysts forecast that Calix, Inc. will post -0.43 EPS for the current year.

About Calix

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.