Kornitzer Capital Management Inc. KS Cuts Stock Holdings in Calix, Inc. (NYSE:CALX)

Kornitzer Capital Management Inc. KS cut its position in shares of Calix, Inc. (NYSE:CALX - Free Report) by 13.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 373,726 shares of the communications equipment provider's stock after selling 56,045 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.56% of Calix worth $13,032,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in Calix by 3.8% in the 4th quarter. Principal Financial Group Inc. now owns 287,509 shares of the communications equipment provider's stock valued at $10,025,000 after purchasing an additional 10,393 shares during the period. Rhumbline Advisers raised its position in Calix by 1.3% in the fourth quarter. Rhumbline Advisers now owns 168,531 shares of the communications equipment provider's stock worth $5,877,000 after acquiring an additional 2,238 shares during the period. Thompson Investment Management Inc. boosted its stake in Calix by 4.6% in the fourth quarter. Thompson Investment Management Inc. now owns 90,940 shares of the communications equipment provider's stock valued at $3,171,000 after acquiring an additional 4,000 shares during the last quarter. Yorktown Management & Research Co Inc bought a new stake in shares of Calix in the 4th quarter worth approximately $314,000. Finally, Pacer Advisors Inc. lifted its stake in Calix by 29.8% in the fourth quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider's stock valued at $54,000 after purchasing an additional 358 shares during the last quarter. 98.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CALX has been the topic of several research reports. Needham & Company LLC restated a "buy" rating and issued a $45.00 target price on shares of Calix in a research note on Thursday, January 30th. JPMorgan Chase & Co. upped their price objective on shares of Calix from $38.00 to $45.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $43.17.

Calix Price Performance

Shares of CALX traded down $0.21 during midday trading on Friday, hitting $39.51. 72,082 shares of the company traded hands, compared to its average volume of 632,351. Calix, Inc. has a one year low of $26.76 and a one year high of $42.50. The firm has a market cap of $2.62 billion, a P/E ratio of -87.73 and a beta of 1.70. The stock has a 50-day moving average of $37.75 and a 200-day moving average of $36.62.

Calix (NYSE:CALX - Get Free Report) last posted its earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.31). Calix had a negative return on equity of 3.43% and a negative net margin of 3.58%. Sell-side analysts forecast that Calix, Inc. will post -0.43 EPS for the current fiscal year.

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.