Edgestream Partners L.P. Acquires Shares of 75,751 Calix, Inc $CALX

Key Points

• Edgestream Partners L.P. acquired 75,751 Calix shares worth approximately $3.7 million, while several other institutional investors increased their positions. Institutions collectively own 98.14% of the company.
• Calix beat quarterly expectations with $0.47 EPS versus the $0.40 consensus and revenue of $293.33 million, up 21.3% year over year. The board also approved a $100 million share buyback covering up to 3% of outstanding shares.
• Calix shares opened at $35.77, near their one-year low of $34.26, after analysts reduced price targets, though the stock retains a “Moderate Buy” consensus rating with an average target of $63.86. Director Carl Russo separately sold 75,000 shares under a pre-arranged trading plan.

Edgestream Partners L.P. acquired a new position in shares of Calix, Inc (NYSE:CALX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 75,751 shares of the communications equipment provider's stock, valued at approximately $3,711,000. Edgestream Partners L.P. owned approximately 0.12% of Calix at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CALX. California State Teachers Retirement System boosted its position in shares of Calix by 32.6% in the first quarter. California State Teachers Retirement System now owns 76,344 shares of the communications equipment provider's stock worth $3,740,000 after buying an additional 18,755 shares during the period. Quantinno Capital Management LP raised its holdings in shares of Calix by 27.0% during the 1st quarter. Quantinno Capital Management LP now owns 8,304 shares of the communications equipment provider's stock valued at $407,000 after buying an additional 1,764 shares during the period. Polar Asset Management Partners Inc. raised its holdings in shares of Calix by 14.2% during the 1st quarter. Polar Asset Management Partners Inc. now owns 173,749 shares of the communications equipment provider's stock valued at $8,512,000 after buying an additional 21,541 shares during the period. Entropy Technologies LP acquired a new position in Calix during the 1st quarter worth approximately $344,000. Finally, Renaissance Technologies LLC lifted its position in Calix by 17.2% during the 1st quarter. Renaissance Technologies LLC now owns 543,418 shares of the communications equipment provider's stock worth $26,622,000 after acquiring an additional 79,800 shares in the last quarter. Institutional investors and hedge funds own 98.14% of the company's stock.

Insider Buying and Selling at Calix

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 shares were sold at an average price of $36.20, for a total transaction of $2,715,000.00. Following the completion of the sale, the director owned 1,569,188 shares of the company's stock, valued at approximately $56,804,605.60. This trade represents a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 17.44% of the company's stock.

Calix Stock Performance

Shares of CALX opened at $35.77 on Friday. Calix, Inc has a one year low of $34.26 and a one year high of $71.22. The stock has a 50-day moving average price of $37.97 and a 200 day moving average price of $45.46. The company has a market capitalization of $2.25 billion, a P/E ratio of 48.34 and a beta of 1.23.

Calix (NYSE:CALX - Get Free Report) last posted its quarterly earnings data on Monday, July 20th. The communications equipment provider reported $0.47 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $289.96 million. During the same period in the previous year, the business earned $0.33 EPS. Calix's revenue for the quarter was up 21.3% compared to the same quarter last year. Calix has set its Q3 2026 guidance at 0.370-0.450 EPS. As a group, equities research analysts forecast that Calix, Inc will post 0.89 earnings per share for the current fiscal year.

Calix declared that its board has approved a share buyback plan on Tuesday, April 21st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the communications equipment provider to purchase up to 3% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have issued reports on CALX shares. JPMorgan Chase & Co. lowered their price objective on shares of Calix from $65.00 to $58.00 and set an "overweight" rating for the company in a research report on Wednesday, July 22nd. Rosenblatt Securities reduced their target price on shares of Calix from $70.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, July 21st. Wall Street Zen downgraded shares of Calix from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 18th. Zacks Research lowered shares of Calix from a "hold" rating to a "strong sell" rating in a report on Monday, July 20th. Finally, Needham & Company LLC dropped their price target on shares of Calix from $70.00 to $62.00 and set a "buy" rating on the stock in a research note on Thursday, April 23rd. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $63.86.

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.

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