Calix, Inc $CALX Shares Sold by Needham Investment Management LLC

Key Points

• Needham Investment Management LLC has reduced its holdings in Calix, Inc by 22.9%, now owning about 0.33% of the company worth approximately $7.51 million.
• Several other institutional investors, such as Stifel Financial Corp and Price T Rowe Associates, have recently increased their stakes in Calix, indicating strong interest from large investment firms.
• Calix's stock has received positive feedback from analysts, with multiple firms raising their price targets and assigning a consensus rating of "Moderate Buy".

Needham Investment Management LLC reduced its holdings in Calix, Inc (NYSE:CALX - Free Report) by 22.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 212,000 shares of the communications equipment provider's stock after selling 63,000 shares during the quarter. Needham Investment Management LLC owned about 0.33% of Calix worth $7,513,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CALX. Millennium Management LLC raised its holdings in Calix by 77.8% during the fourth quarter. Millennium Management LLC now owns 2,031,212 shares of the communications equipment provider's stock worth $70,828,000 after purchasing an additional 889,102 shares during the last quarter. Nuveen LLC acquired a new position in Calix during the first quarter worth $15,207,000. Balyasny Asset Management L.P. raised its holdings in Calix by 711.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 436,036 shares of the communications equipment provider's stock worth $15,205,000 after purchasing an additional 382,301 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Calix by 105.7% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 708,723 shares of the communications equipment provider's stock worth $24,713,000 after purchasing an additional 364,209 shares during the last quarter. Finally, Penn Capital Management Company LLC acquired a new position in Calix during the first quarter worth $12,018,000. 98.14% of the stock is owned by institutional investors and hedge funds.

Calix Stock Up 0.9%

Shares of NYSE CALX traded up $0.59 on Thursday, hitting $63.59. The company had a trading volume of 160,261 shares, compared to its average volume of 739,706. Calix, Inc has a 12-month low of $28.60 and a 12-month high of $63.70. The business has a 50 day moving average of $56.50 and a two-hundred day moving average of $46.09. The firm has a market capitalization of $4.15 billion, a P/E ratio of -158.98 and a beta of 1.35.

Calix (NYSE:CALX - Get Free Report) last issued its earnings results on Monday, July 21st. The communications equipment provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.41. Calix had a negative return on equity of 3.21% and a negative net margin of 3.09%.The company had revenue of $241.90 million during the quarter, compared to the consensus estimate of $223.81 million. During the same quarter in the prior year, the business earned $0.09 earnings per share. The company's 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. On average, sell-side analysts anticipate that Calix, Inc will post -0.43 earnings per share for the current year.

Insider Activity

In other news, CFO Cory Sindelar sold 10,000 shares of the company's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $60.00, for a total value of $600,000.00. Following the completion of the sale, the chief financial officer owned 76,555 shares of the company's stock, valued at $4,593,300. This represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carl Russo sold 25,000 shares of the company's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $55.40, for a total value of $1,385,000.00. Following the completion of the sale, the director directly owned 2,114,188 shares of the company's stock, valued at $117,126,015.20. The trade was a 1.17% decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,000 shares of company stock valued at $3,065,000 in the last ninety days. Company insiders own 16.90% of the company's stock.

Analysts Set New Price Targets

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

Calix Company 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.