Amundi Reduces Holdings in Calix, Inc $CALX

Key Points

• Amundi cut its Calix stake by 72% in the first quarter, selling 45,551 shares and retaining 17,698 shares valued at approximately $867,000. Institutional investors still own 98.14% of the company.
• Calix exceeded quarterly expectations, reporting $0.47 in earnings per share versus a $0.40 consensus estimate and revenue of $293.33 million, up 21.3% year over year.
• Shares opened at $38.03, well below their 52-week high of $71.22. Analysts maintain a “Moderate Buy” consensus with a $63.86 average price target, while the company authorized a $100 million share-repurchase program.

Amundi trimmed its position in shares of Calix, Inc (NYSE:CALX - Free Report) by 72.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,698 shares of the communications equipment provider's stock after selling 45,551 shares during the period. Amundi's holdings in Calix were worth $867,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in Calix by 63.0% in the fourth quarter. Farther Finance Advisors LLC now owns 551 shares of the communications equipment provider's stock worth $29,000 after purchasing an additional 213 shares during the period. Smartleaf Asset Management LLC grew its stake in Calix by 27.0% in the second quarter. Smartleaf Asset Management LLC now owns 1,245 shares of the communications equipment provider's stock worth $64,000 after purchasing an additional 265 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in Calix by 3.2% in the fourth quarter. Maryland State Retirement & Pension System now owns 8,813 shares of the communications equipment provider's stock worth $466,000 after purchasing an additional 270 shares in the last quarter. Vident Advisory LLC increased its holdings in Calix by 2.8% during the 4th quarter. Vident Advisory LLC now owns 10,570 shares of the communications equipment provider's stock worth $559,000 after purchasing an additional 287 shares during the period. Finally, Strs Ohio raised its position in Calix by 1.5% during the 1st quarter. Strs Ohio now owns 20,600 shares of the communications equipment provider's stock valued at $1,009,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 98.14% of the company's stock.

Calix Price Performance

NYSE CALX opened at $38.03 on Monday. The company has a market capitalization of $2.39 billion, a PE ratio of 51.39 and a beta of 1.24. The company has a fifty day moving average of $37.78 and a 200 day moving average of $44.74. Calix, Inc has a 1 year low of $34.26 and a 1 year high of $71.22.

Calix (NYSE:CALX - Get Free Report) last announced its quarterly earnings results on Monday, July 20th. The communications equipment provider reported $0.47 earnings per share 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 company had revenue of $293.33 million for the quarter, compared to the consensus estimate of $289.96 million. During the same period last year, the firm earned $0.33 EPS. The firm'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. Research analysts expect that Calix, Inc will post 0.89 earnings per share for the current year.

Calix announced that its Board of Directors has approved a stock repurchase plan on Tuesday, April 21st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the communications equipment provider to repurchase up to 3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other Calix news, Director Carl Russo sold 75,000 shares of Calix stock in a transaction on Monday, July 27th. The shares were sold at an average price of $36.20, for a total value 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 approximately $56,804,605.60. The trade was a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 17.44% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on CALX shares. Northland Securities upgraded shares of Calix from a "market perform" rating to an "outperform" rating and set a $52.00 target price on the stock in a report on Tuesday, July 21st. Weiss Ratings downgraded Calix from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday. Rosenblatt Securities cut their target price on Calix from $70.00 to $55.00 and set a "buy" rating on the stock in a research note on Tuesday, July 21st. JPMorgan Chase & Co. decreased their price target 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. Finally, Zacks Research lowered shares of Calix from a "hold" rating to a "strong sell" rating in a report on Monday, July 20th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Calix currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.86.

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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