Sei Investments Co. raised its stake in Calix, Inc (NYSE:CALX – Free Report) by 24.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 269,320 shares of the communications equipment provider’s stock after purchasing an additional 52,784 shares during the quarter. Sei Investments Co. owned 0.42% of Calix worth $13,194,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in CALX. Cetera Investment Advisers increased its stake in shares of Calix by 11.0% in the first quarter. Cetera Investment Advisers now owns 9,738 shares of the communications equipment provider’s stock worth $477,000 after buying an additional 968 shares during the period. PNC Financial Services Group Inc. boosted its position in Calix by 25.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 13,400 shares of the communications equipment provider’s stock valued at $656,000 after buying an additional 2,690 shares during the period. Meeder Asset Management Inc. purchased a new stake in Calix during the 1st quarter valued at $977,000. Dimensional Fund Advisors LP grew its holdings in Calix by 28.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,218,495 shares of the communications equipment provider’s stock worth $59,699,000 after acquiring an additional 269,876 shares during the last quarter. Finally, Swiss National Bank grew its holdings in Calix by 1.8% in the 1st quarter. Swiss National Bank now owns 124,500 shares of the communications equipment provider’s stock worth $6,099,000 after acquiring an additional 2,200 shares during the last quarter. Hedge funds and other institutional investors own 98.14% of the company’s stock.
Insiders Place Their Bets
In related news, Director Carl Russo sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $36.20, for a total transaction of $2,715,000.00. Following the completion of the transaction, the director owned 1,569,188 shares of the company’s stock, valued at $56,804,605.60. This trade represents a 4.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.44% of the stock is currently owned by company insiders.
Calix Price Performance
Calix (NYSE:CALX – Get Free Report) last announced its earnings results on Monday, July 20th. The communications equipment provider reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.07. Calix had a net margin of 4.61% and a return on equity of 6.17%. The business had revenue of $293.33 million during the quarter, compared to the consensus estimate of $289.96 million. During the same quarter last year, the firm earned $0.33 earnings per share. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. Calix has set its Q3 2026 guidance at 0.370-0.450 EPS. On average, equities research analysts expect that Calix, Inc will post 0.89 earnings per share for the current fiscal year.
Calix declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, April 21st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the communications equipment provider to repurchase up to 3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on the stock. Weiss Ratings raised shares of Calix from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 23rd. JPMorgan Chase & Co. cut their target price on Calix from $65.00 to $58.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Wall Street Zen downgraded Calix from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. Zacks Research cut Calix from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. Finally, Roth Capital reiterated a “buy” rating on shares of Calix in a research report on Tuesday, July 21st. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.86.
View Our Latest Stock Analysis on Calix
About Calix
Calix, Inc is a provider of cloud and software platforms, systems, and services that enable broadband service providers to transform their networks and subscriber experiences. The company’s flagship Calix Cloud platform delivers real-time analytics, automation and intelligence designed to simplify network operations, improve service agility and drive revenue growth. Calix also offers a comprehensive suite of premises and access systems, including broadband access nodes, fiber-to-the-home optics and residential gateways under the GigaSpire brand.
Through its software-defined network architecture, Calix helps service providers virtualize key network functions and introduce new services with minimal capital expenditure.
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