Calix, Inc $CALX Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Calix stake by 59.5% in the second quarter, selling 29,565 shares and retaining 20,085 shares valued at approximately $750,000. Institutional investors and hedge funds collectively own 98.14% of Calix.
• Calix exceeded quarterly expectations, reporting adjusted EPS of $0.47 versus the $0.40 consensus and revenue of $293.33 million, up 21.3% year over year. The company also authorized a $100 million share buyback, covering up to 3% of outstanding shares.
• Analyst sentiment remains favorable but target prices have been reduced by some firms: Calix has a “Moderate Buy” consensus rating and an average price target of $63.86, compared with shares opening at $39.58.

Assenagon Asset Management S.A. decreased its stake in shares of Calix, Inc (NYSE:CALX - Free Report) by 59.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,085 shares of the communications equipment provider's stock after selling 29,565 shares during the period. Assenagon Asset Management S.A.'s holdings in Calix were worth $750,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. State Street Corp lifted its holdings in Calix by 1.0% in the 4th quarter. State Street Corp now owns 2,362,965 shares of the communications equipment provider's stock valued at $125,072,000 after purchasing an additional 23,022 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Calix by 5.4% during the fourth quarter. Geode Capital Management LLC now owns 1,445,338 shares of the communications equipment provider's stock worth $76,513,000 after buying an additional 74,235 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Calix by 4.5% during the third quarter. Alliancebernstein L.P. now owns 1,409,729 shares of the communications equipment provider's stock worth $86,515,000 after buying an additional 61,247 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Calix by 214.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,274,426 shares of the communications equipment provider's stock valued at $78,212,000 after buying an additional 868,987 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Calix by 28.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,218,495 shares of the communications equipment provider's stock valued at $59,699,000 after buying an additional 269,876 shares during the last quarter. 98.14% of the stock is owned by institutional investors and hedge funds.

Calix Trading Down 0.7%

Shares of CALX stock opened at $39.58 on Friday. The company has a market capitalization of $2.49 billion, a PE ratio of 53.48 and a beta of 1.24. The firm has a fifty day simple moving average of $37.86 and a 200-day simple moving average of $44.25. Calix, Inc has a twelve month low of $34.26 and a twelve month high of $71.22.

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

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

Insider Buying and Selling

In other news, Director Carl Russo sold 75,000 shares of Calix 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 transaction, the director owned 1,569,188 shares in the company, valued at approximately $56,804,605.60. This trade represents a 4.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 17.44% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wall Street Zen downgraded Calix from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 18th. Weiss Ratings cut Calix from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, August 7th. 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 research report on Tuesday, July 21st. Needham & Company LLC dropped their price target on shares of Calix from $70.00 to $62.00 and set a "buy" rating for the company in a research report on Thursday, April 23rd. Finally, Rosenblatt Securities cut their price target on shares of Calix from $70.00 to $55.00 and set a "buy" rating on the stock in a research note on Tuesday, July 21st. Seven investment 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 price target of $63.86.

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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