Summit Global Investments acquired a new position in shares of Calix, Inc (NYSE:CALX – Free Report) in the second quarter, Holdings Channel reports. The firm acquired 16,328 shares of the communications equipment provider’s stock, valued at approximately $609,000.
Other institutional investors also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Calix by 1.0% during the fourth quarter. State Street Corp now owns 2,362,965 shares of the communications equipment provider’s stock valued at $125,072,000 after buying an additional 23,022 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Calix by 5.4% in the 4th quarter. Geode Capital Management LLC now owns 1,445,338 shares of the communications equipment provider’s stock valued at $76,513,000 after buying an additional 74,235 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Calix by 4.5% in the 3rd quarter. Alliancebernstein L.P. now owns 1,409,729 shares of the communications equipment provider’s stock worth $86,515,000 after buying an additional 61,247 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Calix by 214.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,274,426 shares of the communications equipment provider’s stock worth $78,212,000 after buying an additional 868,987 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Calix by 28.4% during 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 in the last quarter. Institutional investors own 98.14% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently commented on CALX shares. JPMorgan Chase & Co. decreased their target price on shares of Calix from $65.00 to $58.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Needham & Company LLC cut their price target on shares of Calix from $70.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Roth Capital reaffirmed a “buy” rating on shares of Calix in a research report on Tuesday, July 21st. Zacks Research lowered Calix from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. Finally, Rosenblatt Securities decreased their price objective on Calix from $70.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $63.86.
Calix Stock Down 0.7%
Shares of CALX opened at $39.58 on Friday. Calix, Inc has a 52 week low of $34.26 and a 52 week high of $71.22. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 53.48 and a beta of 1.24. The stock’s 50-day moving average price is $37.86 and its 200-day moving average price is $44.25.
Calix (NYSE:CALX – Get Free Report) last posted its earnings results on Monday, July 20th. The communications equipment provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.40 by $0.07. Calix had a return on equity of 6.17% and a net margin of 4.61%.The firm had revenue of $293.33 million for the quarter, compared to analyst estimates of $289.96 million. During the same period last year, the company earned $0.33 earnings per share. Calix’s revenue for the quarter was up 21.3% compared to the same quarter last year. Calix has set its Q3 2026 guidance at 0.370-0.450 EPS. As a group, equities analysts anticipate that Calix, Inc will post 0.89 EPS for the current fiscal year.
Calix announced that its Board of Directors has initiated a share buyback program on Tuesday, April 21st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the communications equipment provider to repurchase up to 3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
Insider Activity at Calix
In other news, Director Carl Russo sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $36.20, for a total transaction of $2,715,000.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.44% of the stock is owned by insiders.
Calix Profile
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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