Calix, Inc $CALX Position Increased by Congress Asset Management Co.

Key Points

• Congress Asset Management Co. has increased its stake in Calix, Inc. by 2.9%, owning approximately $75.4 million worth of its shares as of the latest SEC filing.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Calix, with several price target increases, including JPMorgan's raise from $38.00 to $52.00 and Roth Capital's from $60.00 to $69.00.
• In insider trading news, Director Carl Russo sold 25,000 shares valued at about $1.4 million, while CFO Cory Sindelar sold 10,000 shares worth $600,000, indicating notable insider activity.

Congress Asset Management Co. boosted its stake in Calix, Inc (NYSE:CALX - Free Report) by 2.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,417,944 shares of the communications equipment provider's stock after buying an additional 39,447 shares during the period. Congress Asset Management Co. owned 2.19% of Calix worth $75,420,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Two Sigma Investments LP increased its holdings in shares of Calix by 31.0% in the 4th quarter. Two Sigma Investments LP now owns 29,994 shares of the communications equipment provider's stock worth $1,046,000 after acquiring an additional 7,100 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Calix by 23.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 159,423 shares of the communications equipment provider's stock worth $5,559,000 after purchasing an additional 29,815 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of Calix by 159.3% in the fourth quarter. Mackenzie Financial Corp now owns 23,710 shares of the communications equipment provider's stock valued at $827,000 after purchasing an additional 14,567 shares during the period. Wellington Management Group LLP raised its holdings in shares of Calix by 0.6% during the fourth quarter. Wellington Management Group LLP now owns 202,274 shares of the communications equipment provider's stock valued at $7,053,000 after buying an additional 1,135 shares during the last quarter. Finally, Kera Capital Partners Inc. bought a new stake in shares of Calix during the first quarter valued at approximately $261,000. 98.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CALX shares. JPMorgan Chase & Co. raised their target price on Calix from $38.00 to $52.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Wall Street Zen raised Calix from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. Wolfe Research began coverage on shares of Calix in a research note on Monday, July 7th. They set a "peer perform" rating on the stock. Rosenblatt Securities increased their target price 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. Finally, Roth Capital boosted their price target on shares of Calix from $60.00 to $69.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Calix presently has a consensus rating of "Moderate Buy" and an average target price of $64.00.

Insider Activity at Calix

In related news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction on 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 transaction, the director directly owned 2,114,188 shares in the company, valued at $117,126,015.20. The trade was a 1.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Cory Sindelar sold 10,000 shares of the business's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $60.00, for a total value 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. In the last 90 days, insiders sold 55,000 shares of company stock worth $3,065,000. 16.90% of the stock is currently owned by company insiders.

Calix Stock Up 0.3%

NYSE:CALX opened at $61.40 on Friday. The business's 50-day moving average price is $58.76 and its 200 day moving average price is $48.14. Calix, Inc has a 52-week low of $28.60 and a 52-week high of $64.30. The firm has a market cap of $4.01 billion, a P/E ratio of -153.50 and a beta of 1.35.

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

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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