Norges Bank Buys New Stake in Calix, Inc. (NYSE:CALX)

Norges Bank bought a new position in Calix, Inc. (NYSE:CALX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 330,300 shares of the communications equipment provider's stock, valued at approximately $11,518,000. Norges Bank owned 0.50% of Calix 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 company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Calix by 5.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 129,608 shares of the communications equipment provider's stock valued at $5,027,000 after buying an additional 6,984 shares during the period. Amundi acquired a new stake in Calix in the fourth quarter valued at approximately $330,000. HighTower Advisors LLC raised its stake in shares of Calix by 30.5% during the fourth quarter. HighTower Advisors LLC now owns 118,245 shares of the communications equipment provider's stock valued at $4,123,000 after purchasing an additional 27,622 shares during the period. Principal Financial Group Inc. lifted its position in shares of Calix by 3.8% during the fourth quarter. Principal Financial Group Inc. now owns 287,509 shares of the communications equipment provider's stock worth $10,025,000 after purchasing an additional 10,393 shares in the last quarter. Finally, TradeLink Capital LLC purchased a new position in shares of Calix in the fourth quarter valued at $299,000. Institutional investors and hedge funds own 98.14% of the company's stock.

Calix Stock Performance

Shares of CALX stock traded up $0.22 during trading hours on Friday, hitting $33.60. 430,336 shares of the company were exchanged, compared to its average volume of 666,858. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of -74.65 and a beta of 1.75. Calix, Inc. has a one year low of $26.76 and a one year high of $42.50. The business's 50-day simple moving average is $36.02 and its two-hundred day simple moving average is $35.97.

Calix (NYSE:CALX - Get Free Report) last released its earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) EPS 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%. As a group, analysts anticipate that Calix, Inc. will post -0.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CALX shares. JPMorgan Chase & Co. boosted their price objective 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 reiterated a "buy" rating and issued a $45.00 price target on shares of Calix in a research note on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $43.17.

Insider Buying and Selling at Calix

In related news, Director Carl Russo sold 25,000 shares of the firm'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 trade represents a 1.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 17.04% of the stock is owned by insiders.

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.