Calix, Inc $CALX Shares Bought by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its Calix position by 28.4% in the first quarter, adding 269,876 shares to own 1.22 million shares valued at approximately $59.7 million. Institutional investors and hedge funds collectively own 98.14% of the company.
• Analysts remain broadly positive, with seven Buy ratings, one Hold and one Sell; Calix has a consensus “Moderate Buy” rating and an average price target of $63.86, despite several recent target reductions.
• Calix exceeded quarterly expectations with $0.47 EPS and $293.33 million in revenue, up 21.3% year over year. The company also authorized a $100 million stock-repurchase program, while shares recently traded at $35.77 near their one-year low.

Dimensional Fund Advisors LP raised its position in Calix, Inc (NYSE:CALX - Free Report) by 28.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,218,495 shares of the communications equipment provider's stock after buying an additional 269,876 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.91% of Calix worth $59,699,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of CALX. Royal Bank of Canada increased its holdings in shares of Calix by 11.0% in the 1st quarter. Royal Bank of Canada now owns 28,022 shares of the communications equipment provider's stock valued at $993,000 after acquiring an additional 2,773 shares during the period. AQR Capital Management LLC boosted its stake in Calix by 304.1% during the 1st quarter. AQR Capital Management LLC now owns 44,874 shares of the communications equipment provider's stock worth $1,538,000 after purchasing an additional 33,769 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Calix by 10.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 176,328 shares of the communications equipment provider's stock worth $6,249,000 after purchasing an additional 16,905 shares during the last quarter. Intech Investment Management LLC increased its stake in Calix by 26.8% in the first quarter. Intech Investment Management LLC now owns 32,923 shares of the communications equipment provider's stock valued at $1,167,000 after purchasing an additional 6,962 shares during the period. Finally, Amundi increased its stake in Calix by 16,478.0% in the second quarter. Amundi now owns 9,781 shares of the communications equipment provider's stock valued at $518,000 after purchasing an additional 9,722 shares during the period. 98.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CALX. Weiss Ratings upgraded shares of Calix from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, July 23rd. Rosenblatt Securities dropped their price target on Calix from $70.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, July 21st. 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. Northland Securities raised Calix from a "market perform" rating to an "outperform" rating and set a $52.00 price objective for the company in a research report on Tuesday, July 21st. Finally, Wall Street Zen downgraded Calix from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 18th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Calix currently has an average rating of "Moderate Buy" and an average target price of $63.86.

Calix Stock Performance

CALX stock opened at $35.77 on Friday. The stock has a market capitalization of $2.25 billion, a PE ratio of 48.34 and a beta of 1.23. The company has a fifty day moving average of $37.97 and a 200-day moving average of $45.46. Calix, Inc has a one year low of $34.26 and a one year high of $71.22.

Calix (NYSE:CALX - Get Free Report) last issued its quarterly earnings results on Monday, July 20th. The communications equipment provider reported $0.47 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $289.96 million. During the same period in the previous year, the business posted $0.33 earnings per share. 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 analysts forecast that Calix, Inc will post 0.89 earnings per share for the current fiscal year.

Calix declared that its board has initiated a stock buyback program on Tuesday, April 21st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the communications equipment provider to buy up to 3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Insider Activity

In other news, Director Carl Russo sold 75,000 shares of the firm's stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $36.20, for a total value of $2,715,000.00. Following the completion of the sale, the director directly owned 1,569,188 shares of the company's stock, valued at $56,804,605.60. This trade represents a 4.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 17.44% of the company's stock.

Calix Company 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.

Want to see what other hedge funds are holding CALX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Calix, Inc (NYSE:CALX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.