PDT Partners LLC Trims Stake in Calix, Inc $CALX

Key Points

• PDT Partners LLC reduced its stake in Calix, Inc by 34.6%, owning 37,535 shares worth approximately $1.33 million after selling nearly 20,000 shares in the first quarter.
• Calix received upgrades and price target increases from several analysts, with a consensus price target of $59.25 and multiple firms assigning "buy" ratings.
• Calix's stock recently opened at $58.99, showing a 22.1% revenue growth year-over-year and exceeding earnings expectations with $0.33 EPS reported for the last quarter.

PDT Partners LLC trimmed its holdings in Calix, Inc (NYSE:CALX - Free Report) by 34.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 37,535 shares of the communications equipment provider's stock after selling 19,819 shares during the period. PDT Partners LLC owned approximately 0.06% of Calix worth $1,330,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in Calix by 2.4% in the first quarter. Principal Financial Group Inc. now owns 294,539 shares of the communications equipment provider's stock worth $10,438,000 after acquiring an additional 7,030 shares during the period. Teacher Retirement System of Texas purchased a new position in Calix in the first quarter worth approximately $922,000. American Century Companies Inc. grew its position in Calix by 22.8% in the first quarter. American Century Companies Inc. now owns 144,323 shares of the communications equipment provider's stock worth $5,115,000 after acquiring an additional 26,778 shares during the period. Russell Investments Group Ltd. grew its position in Calix by 50.4% in the first quarter. Russell Investments Group Ltd. now owns 107,313 shares of the communications equipment provider's stock worth $3,803,000 after acquiring an additional 35,976 shares during the period. Finally, D. E. Shaw & Co. Inc. purchased a new position in Calix in the fourth quarter worth approximately $3,844,000. 98.14% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Calix news, Director Carl Russo sold 25,000 shares of the firm's 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 sale, the director directly owned 2,114,188 shares in the company, valued at $117,126,015.20. This trade represents a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Cory Sindelar sold 10,000 shares of the firm's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $60.00, for a total value of $600,000.00. Following the completion of the sale, the chief financial officer owned 76,555 shares in the company, valued at approximately $4,593,300. This represents a 11.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,000 shares of company stock worth $3,065,000. 16.90% of the stock is owned by insiders.

Calix Trading Down 0.7%

NYSE:CALX traded down $0.42 during midday trading on Friday, reaching $60.62. The company had a trading volume of 349,717 shares, compared to its average volume of 548,352. Calix, Inc has a 12-month low of $28.60 and a 12-month high of $61.72. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of -151.54 and a beta of 1.35. The stock's fifty day simple moving average is $55.95 and its 200-day simple moving average is $45.67.

Calix (NYSE:CALX - Get Free Report) last posted 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. Calix had a negative return on equity of 3.21% and a negative net margin of 3.09%.The company had revenue of $241.90 million for the quarter, compared to analysts' expectations of $223.81 million. During the same period last year, the firm earned $0.09 earnings per share. Calix'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. As a group, sell-side analysts expect that Calix, Inc will post -0.43 EPS for the current year.

Analysts Set New Price Targets

CALX has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price objective on Calix from $38.00 to $52.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Rosenblatt Securities raised their price target on Calix from $56.00 to $65.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Needham & Company LLC raised their price target 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 upgraded Calix from a "hold" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Finally, Wolfe Research assumed coverage on Calix in a research report on Monday, July 7th. They set a "peer perform" rating for the company. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Calix currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.25.

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.