Northern Trust Corp Sells 13,693 Shares of Calix, Inc $CALX

Key Points

• Northern Trust Corp has reduced its stake in Calix, Inc by 2.2%, owning approximately 0.95% of the company, worth nearly $21.93 million after selling 13,693 shares.
• Insider trading activity includes CFO Cory Sindelar selling 10,000 shares for $600,000, representing a 11.55% decrease in his position, while Director Carl Russo sold 25,000 shares for $1.39 million, a 1.17% decrease.
• Calix's stock recently traded down 2.6%, with an average target price of $59.25, following strong earnings results that exceeded analyst estimates by earning $0.33 per share.

Northern Trust Corp trimmed its holdings in Calix, Inc (NYSE:CALX - Free Report) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 618,793 shares of the communications equipment provider's stock after selling 13,693 shares during the period. Northern Trust Corp owned 0.95% of Calix worth $21,930,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CALX. Vanguard Group Inc. lifted its holdings in Calix by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 8,015,370 shares of the communications equipment provider's stock valued at $284,065,000 after purchasing an additional 37,601 shares during the last quarter. Millennium Management LLC grew its stake in Calix by 77.8% in the 4th quarter. Millennium Management LLC now owns 2,031,212 shares of the communications equipment provider's stock valued at $70,828,000 after buying an additional 889,102 shares during the last quarter. Congress Asset Management Co. raised its holdings in Calix by 8.1% in the 1st quarter. Congress Asset Management Co. now owns 1,378,497 shares of the communications equipment provider's stock valued at $48,854,000 after acquiring an additional 103,175 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in Calix by 105.7% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 708,723 shares of the communications equipment provider's stock worth $24,713,000 after acquiring an additional 364,209 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Calix by 4.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 679,367 shares of the communications equipment provider's stock worth $24,077,000 after acquiring an additional 30,123 shares during the period. 98.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CALX has been the topic of a number of recent research reports. Wolfe Research initiated coverage on Calix in a research note on Monday, July 7th. They set a "peer perform" rating on the stock. Rosenblatt Securities upped their price objective on Calix from $56.00 to $65.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Needham & Company LLC increased their price objective on Calix from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Wall Street Zen raised shares of Calix from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. Finally, JPMorgan Chase & Co. increased their price target on Calix from $38.00 to $52.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Calix has an average rating of "Moderate Buy" and a consensus target price of $59.25.

Calix Trading Up 3.4%

NYSE CALX traded up $1.97 during trading on Thursday, hitting $60.61. 289,495 shares of the company's stock were exchanged, compared to its average volume of 745,595. The company has a market cap of $3.96 billion, a PE ratio of -151.52 and a beta of 1.35. Calix, Inc has a fifty-two week low of $28.60 and a fifty-two week high of $61.27. The stock's 50 day moving average price is $55.55 and its two-hundred day moving average price is $45.34.

Calix (NYSE:CALX - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The communications equipment provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.41. The business had revenue of $241.90 million during the quarter, compared to analysts' expectations of $223.81 million. Calix had a negative net margin of 3.09% and a negative return on equity of 3.21%. The firm's quarterly revenue was up 22.1% compared to the same quarter last year. 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. Analysts forecast that Calix, Inc will post -0.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Calix news, Director Carl Russo sold 25,000 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $55.40, for a total transaction of $1,385,000.00. Following the completion of the sale, the director owned 2,114,188 shares of the company's stock, valued at approximately $117,126,015.20. This represents a 1.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Cory Sindelar sold 10,000 shares of the business's stock in a transaction on 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 transaction, the chief financial officer owned 76,555 shares in the company, valued at approximately $4,593,300. The trade was a 11.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,000 shares of company stock worth $3,065,000 over the last three months. Insiders own 16.90% of the company's stock.

Calix Company 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.