HighTower Advisors LLC Has $6.13 Million Holdings in Calix, Inc $CALX

Key Points

• HighTower Advisors increased its Calix position by 37.8% in the second quarter, bringing its holdings to 164,210 shares valued at approximately $6.13 million. Institutional investors collectively own 98.14% of Calix.
• Analysts maintain a generally positive outlook, with seven Buy ratings and two Hold ratings. Calix has a “Moderate Buy” consensus rating and an average price target of $63.86, despite recent target reductions.
• Calix exceeded quarterly expectations, reporting adjusted earnings of $0.47 per share and revenue of $293.33 million, up 21.3% year over year. However, the stock opened at $34.87, near its 12-month low of $33.95.

HighTower Advisors LLC increased its position in Calix, Inc (NYSE:CALX - Free Report) by 37.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 164,210 shares of the communications equipment provider's stock after acquiring an additional 45,081 shares during the quarter. HighTower Advisors LLC owned about 0.26% of Calix worth $6,128,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CALX. Raymond James Financial Inc. bought a new stake in Calix during the second quarter valued at about $30,000. Harbor Investment Advisory LLC bought a new position in shares of Calix in the second quarter worth about $31,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Calix by 24,733.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 745 shares of the communications equipment provider's stock worth $39,000 after purchasing an additional 742 shares during the period. Strive Financial Group LLC acquired a new position in shares of Calix during the 4th quarter worth about $40,000. Finally, OV Management LLC acquired a new position in shares of Calix during the 2nd quarter worth about $62,000. Institutional investors and hedge funds own 98.14% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on CALX shares. Rosenblatt Securities decreased their target price on Calix from $70.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday, July 21st. Roth Capital reaffirmed a "buy" rating on shares of Calix in a research report on Tuesday, July 21st. JPMorgan Chase & Co. cut their price target on Calix from $65.00 to $58.00 and set an "overweight" rating for the company in a report on Wednesday, July 22nd. Weiss Ratings raised Calix from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, August 24th. Finally, Wall Street Zen downgraded shares of Calix from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 18th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.86.

Insider Activity at Calix

In other news, Director Carl Russo sold 75,000 shares of Calix stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $36.20, for a total transaction of $2,715,000.00. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 17.44% of the company's stock.

Calix Stock Performance

NYSE CALX opened at $34.87 on Friday. The firm has a 50-day simple moving average of $38.04 and a 200 day simple moving average of $42.29. Calix, Inc has a twelve month low of $33.95 and a twelve month high of $71.22. The stock has a market cap of $2.20 billion, a PE ratio of 47.11 and a beta of 1.25.

Calix (NYSE:CALX - Get Free Report) last released its earnings results on Monday, July 20th. The communications equipment provider reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.07. The business had revenue of $293.33 million for the quarter, compared to the consensus estimate of $289.96 million. Calix had a return on equity of 6.17% and a net margin of 4.61%.The firm's revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period last year, the business earned $0.33 earnings per share. Calix has set its Q3 2026 guidance at 0.370-0.450 EPS. Research analysts forecast that Calix, Inc will post 0.89 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding CALX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Calix, Inc (NYSE:CALX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.