Alliancebernstein L.P. Grows Stock Position 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 holdings in shares of Calix, Inc (NYSE:CALX - Free Report) by 12.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,509,223 shares of the communications equipment provider's stock after purchasing an additional 270,397 shares during the quarter. Alliancebernstein L.P. owned approximately 3.87% of Calix worth $88,927,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. AQR Capital Management LLC increased its position in shares of Calix by 304.1% during the 1st quarter. AQR Capital Management LLC now owns 44,874 shares of the communications equipment provider's stock valued at $1,538,000 after purchasing an additional 33,769 shares during the last quarter. Alyeska Investment Group L.P. increased its position in shares of Calix by 26.3% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,032,292 shares of the communications equipment provider's stock valued at $36,584,000 after purchasing an additional 215,028 shares during the last quarter. Federation des caisses Desjardins du Quebec grew its stake in shares of Calix by 13.3% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 32,032 shares of the communications equipment provider's stock valued at $1,135,000 after acquiring an additional 3,770 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of Calix during the 1st quarter valued at approximately $812,000. Finally, Royal Bank of Canada grew its stake in shares of Calix by 11.0% during the 1st quarter. Royal Bank of Canada now owns 28,022 shares of the communications equipment provider's stock valued at $993,000 after acquiring an additional 2,773 shares during the period. Hedge funds and other institutional investors own 98.14% of the company's stock.

Calix Price Performance

CALX stock opened at $60.62 on Friday. Calix, Inc has a 1-year low of $28.60 and a 1-year high of $61.72. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of -151.54 and a beta of 1.35. The business has a 50 day simple moving average of $55.95 and a two-hundred day simple moving average of $45.63.

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 business had revenue of $241.90 million during the quarter, compared to the consensus estimate of $223.81 million. During the same period in the prior year, the company posted $0.09 EPS. The firm's revenue for the quarter was up 22.1% compared to the same quarter last year. Calix has set its Q3 2025 guidance at 0.310-0.371 EPS. Sell-side analysts anticipate that Calix, Inc will post -0.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Rosenblatt Securities boosted their price objective on Calix from $56.00 to $65.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Wolfe Research assumed coverage on Calix in a research note on Monday, July 7th. They set a "peer perform" rating for the company. Needham & Company LLC boosted their price objective on Calix from $60.00 to $70.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. boosted their price objective on Calix from $38.00 to $52.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Finally, Wall Street Zen upgraded Calix from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Calix presently has an average rating of "Moderate Buy" and an average target price of $59.25.

Insider Buying and Selling

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

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.

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