Hsbc Holdings PLC Lowers Stock Position in Calix, Inc $CALX

Key Points

• Hsbc Holdings PLC reduced its stake in Calix, Inc by 48.2%, now holding 10,460 shares valued at $366,000.
• Calix, Inc's quarterly earnings exceeded estimates, reporting $0.33 earnings per share and revenues of $241.90 million, a 22.1% increase compared to the same quarter last year.
• Analysts have given Calix a Moderate Buy rating, with some estimates raising the price target from $56.00 to $70.00.

Hsbc Holdings PLC trimmed its position in shares of Calix, Inc (NYSE:CALX - Free Report) by 48.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,460 shares of the communications equipment provider's stock after selling 9,740 shares during the quarter. Hsbc Holdings PLC's holdings in Calix were worth $366,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. acquired a new stake in Calix during the 1st quarter worth $28,000. Signaturefd LLC boosted its position in shares of Calix by 91.1% during the 1st quarter. Signaturefd LLC now owns 1,007 shares of the communications equipment provider's stock valued at $36,000 after acquiring an additional 480 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Calix during the 4th quarter valued at about $208,000. LVW Advisors LLC acquired a new position in shares of Calix during the 1st quarter valued at about $226,000. Finally, Kera Capital Partners Inc. acquired a new position in shares of Calix during the 1st quarter valued at about $261,000. Hedge funds and other institutional investors own 98.14% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Activity at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $55.40, for a total value of $1,385,000.00. Following the transaction, the director directly owned 2,114,188 shares in the company, valued at $117,126,015.20. This represents a 1.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Cory Sindelar sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $60.00, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,000 shares of company stock worth $3,065,000 over the last quarter. 16.90% of the stock is currently owned by insiders.

Calix Price Performance

Shares of CALX stock traded down $0.42 during trading hours on Friday, reaching $60.62. 349,717 shares of the stock were exchanged, compared to its average volume of 548,352. The business's fifty day moving average is $55.95 and its two-hundred day moving average is $45.63. 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 P/E ratio of -151.54 and a beta of 1.35.

Calix (NYSE:CALX - Get Free Report) last released its earnings results on Monday, July 21st. The communications equipment provider reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of ($0.08) by $0.41. Calix had a negative net margin of 3.09% and a negative return on equity of 3.21%. The firm had revenue of $241.90 million for the quarter, compared to analyst estimates of $223.81 million. During the same period in the prior year, the firm earned $0.09 earnings per share. The business's quarterly revenue was up 22.1% compared to the same quarter last year. Calix has set its Q3 2025 guidance at 0.310-0.371 EPS. As a group, equities research analysts predict that Calix, Inc will post -0.43 earnings per share for the current fiscal year.

About Calix

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.