Bank of America Corp DE Purchases New Position in Calix, Inc $CALX

Key Points

• Bank of America acquired 560,034 Calix shares worth approximately $20.9 million in the second quarter, giving it about a 0.89% stake. Institutional investors collectively own 98.14% of the company.
• Calix reported quarterly EPS of $0.47, exceeding the $0.40 analyst estimate, while revenue rose 21.3% year over year to $293.33 million. The company guided for third-quarter EPS of $0.37–$0.45.
• Calix shares opened at $34.57, near their 12-month low, while analysts maintained a consensus “Moderate Buy” rating with an average price target of $63.86. Director Carl Russo separately sold 75,000 shares under a pre-arranged trading plan.

Bank of America Corp DE acquired a new stake in Calix, Inc (NYSE:CALX - Free Report) in the second quarter, according to its most recent filing with the SEC. The fund acquired 560,034 shares of the communications equipment provider's stock, valued at approximately $20,900,000. Bank of America Corp DE owned approximately 0.89% of Calix at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. 4D Advisors LLC bought a new stake in shares of Calix during the 4th quarter valued at $6,087,000. California State Teachers Retirement System boosted its stake in Calix by 32.6% in the 1st quarter. California State Teachers Retirement System now owns 76,344 shares of the communications equipment provider's stock worth $3,740,000 after purchasing an additional 18,755 shares during the period. Geode Capital Management LLC grew its holdings in Calix by 5.4% during 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. Intech Investment Management LLC increased its position in shares of Calix by 129.7% during the fourth quarter. Intech Investment Management LLC now owns 101,074 shares of the communications equipment provider's stock valued at $5,350,000 after buying an additional 57,065 shares during the period. Finally, Dynamic Technology Lab Private Ltd increased its position in shares of Calix by 202.6% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 32,954 shares of the communications equipment provider's stock valued at $1,744,000 after buying an additional 22,063 shares during the period. Institutional investors own 98.14% of the company's stock.

Calix Stock Down 1.7%

NYSE CALX opened at $34.57 on Thursday. The stock's 50-day simple moving average is $37.33 and its two-hundred day simple moving average is $41.18. Calix, Inc has a twelve month low of $33.95 and a twelve month high of $71.22. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 46.71 and a beta of 1.25.

Calix (NYSE:CALX - Get Free Report) last announced its quarterly earnings data on Monday, July 20th. The communications equipment provider reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.07. The company had revenue of $293.33 million for the quarter, compared to analysts' expectations of $289.96 million. Calix had a return on equity of 6.17% and a net margin of 4.61%.Calix's revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period last year, the firm posted $0.33 EPS. Calix has set its Q3 2026 guidance at 0.370-0.450 EPS. On average, equities analysts expect that Calix, Inc will post 0.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CALX. Rosenblatt Securities lowered their price target on shares of Calix from $70.00 to $55.00 and set a "buy" rating on the stock in a report on Tuesday, July 21st. Northland Securities raised 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. JPMorgan Chase & Co. lowered their target price on shares of Calix from $65.00 to $58.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 22nd. Roth Capital reissued a "buy" rating on shares of Calix in a report on Tuesday, July 21st. Finally, Weiss Ratings upgraded shares of Calix from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, August 24th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.86.

Insider Activity

In related news, Director Carl Russo sold 75,000 shares of the stock in a transaction 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 transaction, the director owned 1,569,188 shares of the company's stock, valued at approximately $56,804,605.60. This trade represents a 4.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 17.44% of the company's stock.

About Calix

Calix, Inc is a communications technology company that provides broadband access systems, cloud software and managed services to communications service providers. Its solutions are designed to help service providers deploy, manage and monetize broadband networks while delivering services to residential, business and community customers.

The company's portfolio includes the AXOS broadband platform, which supports fiber, fixed wireless and other access technologies, as well as Calix Cloud software for network management, analytics and operational insights.

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