Connor Clark & Lunn Investment Management Ltd. Raises Stock Holdings in Calix, Inc. (NYSE:CALX)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Calix, Inc. (NYSE:CALX) by 2,741.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 266,197 shares of the communications equipment provider’s stock after acquiring an additional 256,829 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.40% of Calix worth $9,282,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Calix by 5.7% in the third 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 worth $5,027,000 after buying an additional 6,984 shares during the last quarter. Principal Financial Group Inc. increased its position in Calix by 3.8% in the fourth quarter. Principal Financial Group Inc. now owns 287,509 shares of the communications equipment provider’s stock worth $10,025,000 after buying an additional 10,393 shares during the last quarter. Yorktown Management & Research Co Inc purchased a new stake in Calix in the fourth quarter worth $314,000. TradeLink Capital LLC purchased a new stake in Calix in the fourth quarter worth $299,000. Finally, HighTower Advisors LLC purchased a new stake in Calix in the third quarter worth $3,513,000. 98.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CALX. Needham & Company LLC reissued a “buy” rating and issued a $45.00 target price on shares of Calix in a research report on Thursday, January 30th. JPMorgan Chase & Co. raised their target price on Calix from $38.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $43.17.

Insider Activity at Calix

In related news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction 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 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 Securities & Exchange Commission, which is accessible through the SEC website. 16.69% of the stock is owned by corporate insiders.

Calix Price Performance

Calix stock opened at $33.37 on Friday. Calix, Inc. has a one year low of $26.76 and a one year high of $42.50. The business has a fifty day moving average price of $37.64 and a 200-day moving average price of $36.35. The firm has a market capitalization of $2.23 billion, a P/E ratio of -74.16 and a beta of 1.78.

Calix (NYSE:CALX) last posted its quarterly 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%. Sell-side analysts expect that Calix, Inc. will post -0.43 earnings per share 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.