Engineers Gate Manager LP Cuts Stock Holdings in Calix, Inc $CALX

Key Points

• Engineers Gate Manager LP cut its Calix position by 35.5% in the second quarter, selling 45,939 shares and retaining 83,602 shares valued at approximately $3.12 million. Institutional investors and hedge funds collectively own 98.14% of the stock.
• Analysts maintain a generally positive outlook, with seven Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $63.86. However, JPMorgan and Rosenblatt recently lowered their targets to $58 and $55, respectively.
• Calix exceeded quarterly expectations with adjusted EPS of $0.47 versus the $0.40 consensus and revenue of $293.33 million, up 21.3% year over year. Shares opened at $35.15, near the company’s 12-month low of $33.95, while director Carl Russo separately sold 75,000 shares under a pre-arranged trading plan.

Engineers Gate Manager LP reduced its position in shares of Calix, Inc (NYSE:CALX - Free Report) by 35.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,602 shares of the communications equipment provider's stock after selling 45,939 shares during the period. Engineers Gate Manager LP owned about 0.13% of Calix worth $3,120,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of CALX. Smartleaf Asset Management LLC lifted its stake in Calix by 27.0% in the second quarter. Smartleaf Asset Management LLC now owns 1,245 shares of the communications equipment provider's stock valued at $64,000 after buying an additional 265 shares during the last quarter. Maryland State Retirement & Pension System increased its holdings in shares of Calix by 3.2% in the 4th quarter. Maryland State Retirement & Pension System now owns 8,813 shares of the communications equipment provider's stock valued at $466,000 after acquiring an additional 270 shares during the period. Vident Advisory LLC increased its holdings in shares of Calix by 2.8% in the 4th quarter. Vident Advisory LLC now owns 10,570 shares of the communications equipment provider's stock valued at $559,000 after acquiring an additional 287 shares during the period. Strs Ohio boosted its stake in Calix by 1.5% during the 1st quarter. Strs Ohio now owns 20,600 shares of the communications equipment provider's stock worth $1,009,000 after purchasing an additional 300 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its position in Calix by 3.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,800 shares of the communications equipment provider's stock worth $730,000 after purchasing an additional 400 shares during the last quarter. 98.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CALX shares. Wall Street Zen downgraded shares of Calix from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 18th. JPMorgan Chase & Co. decreased their price objective on 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 lowered their target price on Calix from $70.00 to $55.00 and set a "buy" rating on the stock in a research note on Tuesday, July 21st. Zacks Research upgraded Calix from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 18th. Finally, Roth Capital reiterated a "buy" rating on shares of Calix in a research report on Tuesday, July 21st. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $63.86.

Insider Activity at Calix

In other Calix news, Director Carl Russo sold 75,000 shares of the company's stock in a transaction dated 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 transaction, the director directly owned 1,569,188 shares in the company, valued at approximately $56,804,605.60. This represents a 4.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.44% of the stock is owned by company insiders.

Calix Trading Down 0.3%

Shares of CALX stock opened at $35.15 on Monday. The stock has a 50 day simple moving average of $37.97 and a 200-day simple moving average of $42.16. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 47.49 and a beta of 1.25. Calix, Inc has a 12-month low of $33.95 and a 12-month high of $71.22.

Calix (NYSE:CALX - Get Free Report) last released 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 firm had revenue of $293.33 million during the quarter, compared to analysts' expectations of $289.96 million. During the same quarter in the prior year, the business posted $0.33 earnings per share. Calix's revenue was up 21.3% compared to the same quarter last year. Calix has set its Q3 2026 guidance at 0.370-0.450 EPS. On average, equities analysts forecast that Calix, Inc will post 0.89 earnings per share for the current fiscal year.

Calix Company Profile

Calix, Inc is a communications technology company that provides broadband access systems, cloud software and managed services to communications service providers. Its solutions are designed to help service providers deploy, manage and monetize broadband networks while delivering services to residential, business and community customers.

The company's portfolio includes the AXOS broadband platform, which supports fiber, fixed wireless and other access technologies, as well as Calix Cloud software for network management, analytics and operational insights.

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