Calix, Inc. (NYSE:CALX) Holdings Cut by Trigran Investments Inc.

Trigran Investments Inc. lessened its stake in shares of Calix, Inc. (NYSE:CALX - Free Report) by 2.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 721,648 shares of the communications equipment provider's stock after selling 20,665 shares during the quarter. Calix comprises about 2.9% of Trigran Investments Inc.'s holdings, making the stock its 15th biggest holding. Trigran Investments Inc. owned 1.09% of Calix worth $25,164,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its holdings in Calix by 367.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider's stock valued at $28,000 after purchasing an additional 640 shares during the last quarter. Pacer Advisors Inc. raised its position in Calix by 29.8% during the fourth quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider's stock worth $54,000 after acquiring an additional 358 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Calix in the fourth quarter valued at about $84,000. FMR LLC grew its position in shares of Calix by 49.0% in the third quarter. FMR LLC now owns 2,398 shares of the communications equipment provider's stock valued at $93,000 after purchasing an additional 789 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of Calix by 57.8% during the 4th quarter. KBC Group NV now owns 2,772 shares of the communications equipment provider's stock worth $97,000 after purchasing an additional 1,015 shares in the last quarter. Institutional investors and hedge funds own 98.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CALX shares. JPMorgan Chase & Co. boosted their price target 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 target price on shares of Calix and gave the company a "buy" rating in a report on Tuesday. Rosenblatt Securities lifted 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. Finally, Needham & Company LLC restated a "buy" rating and set a $53.00 price objective on shares of Calix in a report on Tuesday. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $45.29.

Calix Stock Performance

Shares of Calix stock traded down $0.72 during trading on Wednesday, reaching $36.89. The company had a trading volume of 2,344,092 shares, compared to its average volume of 675,122. The company has a market cap of $2.46 billion, a price-to-earnings ratio of -81.97 and a beta of 1.75. Calix, Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $42.50. The firm's fifty day moving average is $34.98 and its 200-day moving average is $35.79.

Calix (NYSE:CALX - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.06. The business 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 previous year, the business earned $0.21 EPS. On average, research analysts anticipate that Calix, Inc. will post -0.43 EPS for the current fiscal year.

Calix declared that its Board of Directors has approved a stock repurchase program on Monday, April 21st that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the communications equipment provider to purchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Carl Russo sold 25,000 shares of the business'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 transaction of $953,750.00. Following the sale, the director now owns 2,164,188 shares of the company's stock, valued at $82,563,772.20. The trade was a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 16.90% of the stock is owned by company insiders.

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.