Alliancebernstein L.P. Boosts Stake in Calix, Inc $CALX

Key Points

• Alliancebernstein L.P. increased its holdings in Calix, Inc by 12.1% during the 1st quarter, owning approximately 3.87% of the company, valued at $88.9 million.
• Calix reported a quarterly earnings per share of $0.33, significantly surpassing the consensus estimate of ($0.08) by $0.41, with revenue up 22.1% year-over-year.
• Several hedge funds, including AQR Capital Management and Alyeska Investment Group, have also substantially increased their positions in Calix during the same quarter.

Alliancebernstein L.P. grew its stake in shares of Calix, Inc (NYSE:CALX - Free Report) by 12.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,509,223 shares of the communications equipment provider's stock after buying an additional 270,397 shares during the quarter. Alliancebernstein L.P. owned 3.87% of Calix worth $88,927,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Meeder Asset Management Inc. purchased a new stake in Calix during the 1st quarter valued at about $28,000. Signaturefd LLC lifted its position in Calix by 91.1% in the first quarter. Signaturefd LLC now owns 1,007 shares of the communications equipment provider's stock valued at $36,000 after purchasing an additional 480 shares during the last quarter. Quarry LP boosted its stake in shares of Calix by 1,704.0% during the first quarter. Quarry LP now owns 1,353 shares of the communications equipment provider's stock valued at $48,000 after purchasing an additional 1,278 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in shares of Calix in the fourth quarter worth approximately $208,000. Finally, LVW Advisors LLC purchased a new position in shares of Calix in the first quarter worth $226,000. Hedge funds and other institutional investors own 98.14% of the company's stock.

Insider Buying and Selling at Calix

In other news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $55.40, for a total value of $1,385,000.00. Following the completion of the transaction, the director owned 2,114,188 shares of the company's stock, valued at $117,126,015.20. The trade was a 1.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Cory Sindelar sold 10,000 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $60.00, for a total transaction of $600,000.00. Following the sale, the chief financial officer directly owned 76,555 shares in the company, valued at $4,593,300. This trade represents a 11.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,000 shares of company stock valued at $3,065,000 over the last 90 days. Corporate insiders own 16.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Rosenblatt Securities increased their price target on shares of Calix from $56.00 to $65.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Needham & Company LLC upped their target price on Calix from $60.00 to $70.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Wall Street Zen raised Calix from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Wolfe Research started coverage on shares of Calix in a research report on Monday, July 7th. They set a "peer perform" rating on the stock. Finally, JPMorgan Chase & Co. raised their target price on shares of Calix from $38.00 to $52.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Calix has a consensus rating of "Moderate Buy" and an average price target of $59.25.

Calix Stock Up 0.7%

Shares of NYSE CALX traded up $0.43 on Thursday, reaching $63.43. 444,486 shares of the company's stock traded hands, compared to its average volume of 521,332. The business's 50 day simple moving average is $56.69 and its two-hundred day simple moving average is $46.27. Calix, Inc has a 12 month low of $28.60 and a 12 month high of $63.70. The company has a market cap of $4.14 billion, a price-to-earnings ratio of -158.57 and a beta of 1.35.

Calix (NYSE:CALX - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The communications equipment provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.41. Calix had a negative return on equity of 3.21% and a negative net margin of 3.09%.The company had revenue of $241.90 million for the quarter, compared to the consensus estimate of $223.81 million. During the same quarter in the prior year, the business posted $0.09 EPS. The firm's quarterly revenue was up 22.1% compared to the same quarter last year. Calix has set its Q3 2025 guidance at 0.310-0.371 EPS. Analysts forecast that Calix, Inc will post -0.43 earnings per share for the current fiscal year.

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.