Arrowstreet Capital Limited Partnership Cuts Position in Calix, Inc $CALX

Key Points

• Arrowstreet Capital cut its Calix stake by 56.9% in the first quarter, selling 726,355 shares and retaining 551,150 shares worth approximately $27 million. Institutional investors collectively own 98.14% of the company.
• Calix reported quarterly EPS of $0.47, exceeding the $0.40 consensus estimate, while revenue rose 21.3% year over year to $293.33 million. The company also authorized a $100 million share repurchase program.
• Calix shares opened at $35.50, near their one-year low of $34.26 and well below the $71.22 high. Analysts maintain a “Moderate Buy” consensus with an average price target of $63.86, despite several recent target reductions.

Arrowstreet Capital Limited Partnership lessened its position in shares of Calix, Inc (NYSE:CALX - Free Report) by 56.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 551,150 shares of the communications equipment provider's stock after selling 726,355 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.86% of Calix worth $27,001,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings in Calix by 63.0% in the fourth quarter. Farther Finance Advisors LLC now owns 551 shares of the communications equipment provider's stock valued at $29,000 after purchasing an additional 213 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Calix by 27.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,245 shares of the communications equipment provider's stock valued at $64,000 after purchasing an additional 265 shares during the last quarter. Maryland State Retirement & Pension System grew its stake in Calix by 3.2% during the 4th quarter. Maryland State Retirement & Pension System now owns 8,813 shares of the communications equipment provider's stock worth $466,000 after buying an additional 270 shares during the last quarter. Vident Advisory LLC grew its stake 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 buying an additional 287 shares during the last quarter. Finally, Strs Ohio increased its position in Calix by 1.5% during the first quarter. Strs Ohio now owns 20,600 shares of the communications equipment provider's stock worth $1,009,000 after buying an additional 300 shares during the period. 98.14% of the stock is owned by hedge funds and other institutional investors.

Calix Price Performance

Shares of CALX stock opened at $35.50 on Thursday. The business's fifty day moving average price is $38.11 and its 200 day moving average price is $45.64. The firm has a market capitalization of $2.24 billion, a PE ratio of 47.98 and a beta of 1.23. 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 (EPS) 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 posted $0.33 EPS. The business's revenue was up 21.3% compared to the same quarter last year. Calix has set its Q3 2026 guidance at 0.370-0.450 EPS. 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 initiated a share repurchase program on Tuesday, April 21st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the communications equipment provider to buy up to 3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CALX shares. JPMorgan Chase & Co. reduced their price objective on Calix from $65.00 to $58.00 and set an "overweight" rating for the company in a research note on Wednesday, July 22nd. Weiss Ratings upgraded shares of Calix from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, July 23rd. Needham & Company LLC lowered their price target on Calix from $70.00 to $62.00 and set a "buy" rating on the stock in a report on Thursday, April 23rd. Wall Street Zen cut Calix from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 18th. Finally, Roth Capital restated 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 assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $63.86.

Insider Buying and Selling

In other Calix news, Director Carl Russo sold 75,000 shares of the business's stock in a transaction 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 sale, the director directly owned 1,569,188 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 17.44% of the company's stock.

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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