Assenagon Asset Management S.A. Has $50.41 Million Holdings in Calix, Inc $CALX

Key Points

• Assenagon Asset Management S.A. increased its stake in Calix, Inc by 135.6% in Q2, acquiring 545,490 additional shares to own approximately 1.46% of the company valued at $50.4 million.
• Insider trading activity included the sale of shares by Director Carl Russo and CFO Cory Sindelar, with Russo selling 25,000 shares for $1.39 million and Sindelar selling 10,000 shares for $600,000, impacting their ownership percentages.
• Wall Street analysts are optimistic about Calix, raising the company’s target price to between $69.00 and $70.00, with an average consensus rating of "Moderate Buy" at a price target of $64.00.

Assenagon Asset Management S.A. boosted its stake in shares of Calix, Inc (NYSE:CALX - Free Report) by 135.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 947,738 shares of the communications equipment provider's stock after acquiring an additional 545,490 shares during the quarter. Assenagon Asset Management S.A. owned 1.46% of Calix worth $50,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in Calix by 2.4% during the first quarter. Principal Financial Group Inc. now owns 294,539 shares of the communications equipment provider's stock valued at $10,438,000 after buying an additional 7,030 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in Calix during the 1st quarter valued at approximately $922,000. American Century Companies Inc. raised its stake in shares of Calix by 22.8% during the 1st quarter. American Century Companies Inc. now owns 144,323 shares of the communications equipment provider's stock worth $5,115,000 after buying an additional 26,778 shares during the period. Russell Investments Group Ltd. raised its position in shares of Calix by 50.4% in the first quarter. Russell Investments Group Ltd. now owns 107,313 shares of the communications equipment provider's stock valued at $3,803,000 after buying an additional 35,976 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Calix by 4,397.2% during the 1st quarter. GAMMA Investing LLC now owns 23,745 shares of the communications equipment provider's stock worth $842,000 after purchasing an additional 23,217 shares during the last quarter. Hedge funds and other institutional investors own 98.14% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Calix from a "hold" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Roth Capital upped their price objective on shares of Calix from $60.00 to $69.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Wolfe Research initiated coverage on Calix in a research note on Monday, July 7th. They set a "peer perform" rating on the stock. Needham & Company LLC increased their price objective on shares of Calix from $60.00 to $70.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Finally, Rosenblatt Securities lifted their price objective on shares of Calix from $56.00 to $65.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.00.

Insider Buying and Selling at Calix

In other news, CFO Cory Sindelar sold 10,000 shares of Calix stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $60.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief financial officer directly owned 76,555 shares in the company, valued at $4,593,300. The trade was a 11.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Carl Russo sold 25,000 shares of the 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 approximately $117,126,015.20. This represents a 1.17% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,000 shares of company stock valued at $3,065,000. 16.90% of the stock is owned by insiders.

Calix Stock Performance

NYSE:CALX traded down $0.67 during mid-day trading on Tuesday, reaching $62.79. The stock had a trading volume of 149,748 shares, compared to its average volume of 733,829. Calix, Inc has a one year low of $28.60 and a one year high of $64.30. The firm has a 50 day moving average price of $58.15 and a two-hundred day moving average price of $47.73. The stock has a market capitalization of $4.10 billion, a P/E ratio of -157.03 and a beta of 1.35.

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