Renaissance Technologies LLC Has $5.59 Million Position in Calix, Inc. (NYSE:CALX)

Renaissance Technologies LLC reduced its stake in shares of Calix, Inc. (NYSE:CALX - Free Report) by 21.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 160,419 shares of the communications equipment provider's stock after selling 43,499 shares during the quarter. Renaissance Technologies LLC owned approximately 0.24% of Calix worth $5,594,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CALX. Bank of Montreal Can lifted its position in Calix by 27.1% in the 4th quarter. Bank of Montreal Can now owns 11,057 shares of the communications equipment provider's stock worth $386,000 after buying an additional 2,358 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Calix during the fourth quarter valued at approximately $512,000. ExodusPoint Capital Management LP lifted its stake in Calix by 91.9% in the fourth quarter. ExodusPoint Capital Management LP now owns 42,012 shares of the communications equipment provider's stock valued at $1,465,000 after acquiring an additional 20,121 shares during the last quarter. OV Management LLC lifted its stake in Calix by 0.8% in the fourth quarter. OV Management LLC now owns 139,603 shares of the communications equipment provider's stock valued at $4,868,000 after acquiring an additional 1,094 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in Calix in the fourth quarter worth approximately $1,793,000. 98.14% of the stock is owned by hedge funds and other institutional investors.

Calix Price Performance

Shares of NYSE CALX traded down $0.72 during trading hours on Wednesday, reaching $36.89. The stock had a trading volume of 2,344,092 shares, compared to its average volume of 682,258. The company has a market cap of $2.46 billion, a price-to-earnings ratio of -81.97 and a beta of 1.75. The business's fifty day moving average is $35.04 and its two-hundred day moving average is $35.79. Calix, Inc. has a twelve month low of $26.76 and a twelve month high of $42.50.

Calix (NYSE:CALX - Get Free Report) last posted 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 firm had revenue of $220.20 million during the quarter, compared to analyst estimates of $206.98 million. Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. During the same quarter in the prior year, the business posted $0.21 earnings per share. Sell-side analysts forecast that Calix, Inc. will post -0.43 earnings per share for the current fiscal year.

Calix declared that its board has approved a share repurchase program on Monday, April 21st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the communications equipment provider to buy up to 4.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CALX. Rosenblatt Securities boosted their price target on Calix from $51.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday. Needham & Company LLC reiterated a "buy" rating and issued a $53.00 target price on shares of Calix in a research note on Tuesday. Roth Capital set a $50.00 price objective on Calix and gave the stock a "buy" rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. increased their target price on Calix from $34.00 to $38.00 and gave the company a "neutral" rating in a research note 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. Based on data from MarketBeat, Calix has an average rating of "Moderate Buy" and an average target price of $45.29.

Insiders Place Their Bets

In other news, Director Carl Russo sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $38.15, for a total transaction of $953,750.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 16.90% of the company's stock.

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.