Cubist Systematic Strategies LLC Makes New Investment in Calix, Inc $CALX

Key Points

• Cubist Systematic Strategies LLC invested approximately $812,000 in Calix, Inc, acquiring 22,908 shares, according to their recent Form 13F filing with the SEC.
• Calix's stock saw a significant spike in interest, with institutional investors now owning 98.14% of the company's shares, reflecting strong investor confidence.
• Calix reported a 22.1% year-over-year revenue increase, achieving $241.90 million in revenue for the last quarter, alongside an earnings per share that surpassed analysts' expectations.

Cubist Systematic Strategies LLC purchased a new position in shares of Calix, Inc (NYSE:CALX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 22,908 shares of the communications equipment provider's stock, valued at approximately $812,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Calix by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 8,015,370 shares of the communications equipment provider's stock worth $284,065,000 after buying an additional 37,601 shares during the last quarter. Millennium Management LLC raised 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 purchasing an additional 889,102 shares during the last quarter. Congress Asset Management Co. raised its stake 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 purchasing an additional 103,175 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Calix by 4.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 679,367 shares of the communications equipment provider's stock valued at $24,077,000 after purchasing an additional 30,123 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Calix by 9.4% in the 4th quarter. Northern Trust Corp now owns 632,486 shares of the communications equipment provider's stock valued at $22,055,000 after purchasing an additional 54,136 shares during the last quarter. Institutional investors and hedge funds own 98.14% of the company's stock.

Analyst Ratings Changes

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

Insider Transactions at Calix

In other Calix news, CFO Cory Sindelar sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $60.00, for a total value of $600,000.00. Following the completion of the transaction, the chief financial officer owned 76,555 shares in the company, valued at $4,593,300. This represents a 11.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carl Russo sold 25,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 55,000 shares of company stock valued at $3,065,000 in the last quarter. Company insiders own 16.90% of the company's stock.

Calix Stock Performance

Shares of NYSE:CALX traded down $1.79 during trading on Friday, reaching $61.49. 521,124 shares of the stock were exchanged, compared to its average volume of 507,493. Calix, Inc has a 12-month low of $28.60 and a 12-month high of $63.70. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of -153.72 and a beta of 1.35. The firm's 50-day moving average price is $56.84 and its 200 day moving average price is $46.43.

Calix (NYSE:CALX - Get Free Report) last issued its earnings results 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. Calix had a negative return on equity of 3.21% and a negative net margin of 3.09%.The business had revenue of $241.90 million during the quarter, compared to analysts' expectations of $223.81 million. During the same quarter in the previous year, the business earned $0.09 EPS. The company's revenue for the quarter 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, equities research analysts forecast that Calix, Inc will post -0.43 EPS for the current year.

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.