Millennium Management LLC Sells 266,195 Shares of Calix, Inc $CALX

Millennium Management LLC lessened its holdings in shares of Calix, Inc (NYSE:CALX - Free Report) by 13.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,765,017 shares of the communications equipment provider's stock after selling 266,195 shares during the quarter. Millennium Management LLC owned about 2.72% of Calix worth $62,552,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CALX. Nuveen LLC acquired a new position in Calix during the 1st quarter worth $15,207,000. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Calix by 105.7% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 708,723 shares of the communications equipment provider's stock valued at $24,713,000 after buying an additional 364,209 shares during the period. Penn Capital Management Company LLC acquired a new stake in shares of Calix in the first quarter valued at $12,018,000. Alliancebernstein L.P. lifted its holdings in shares of Calix by 12.1% in the first quarter. Alliancebernstein L.P. now owns 2,509,223 shares of the communications equipment provider's stock valued at $88,927,000 after buying an additional 270,397 shares during the period. Finally, Neuberger Berman Group LLC acquired a new stake in shares of Calix in the first quarter valued at $8,620,000. Institutional investors and hedge funds own 98.14% of the company's stock.

Insider Activity at Calix

In related news, CFO Cory Sindelar sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $60.00, for a total transaction of $600,000.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the director owned 2,114,188 shares of the company's stock, valued at approximately $117,126,015.20. The trade was a 1.17% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,000 shares of company stock valued at $3,065,000. 16.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Calix Stock Performance

Shares of CALX traded down $1.79 during trading hours on Friday, hitting $61.49. 521,124 shares of the company were exchanged, compared to its average volume of 507,493. The company has a market cap of $4.02 billion, a PE ratio of -153.72 and a beta of 1.35. The firm's 50 day moving average is $56.84 and its 200-day moving average is $46.49. Calix, Inc has a 52 week low of $28.60 and a 52 week high of $63.70.

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

Calix 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.