Neuberger Berman Group LLC Takes Position in Calix, Inc $CALX

Key Points

• Neuberger Berman Group LLC acquired a new stake in Calix, Inc, purchasing 243,222 shares valued at approximately $8.62 million, raising its ownership to 0.38% by the end of the quarter.
• Calix reported a quarterly earnings beat with $0.33 EPS, surpassing expectations of a loss, and a revenue of $241.9 million, up 22.1% year over year.
• The company has a share buyback program authorized for up to $100 million, indicating management's belief that the stock is currently undervalued.

Neuberger Berman Group LLC bought a new position in shares of Calix, Inc (NYSE:CALX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 243,222 shares of the communications equipment provider's stock, valued at approximately $8,620,000. Neuberger Berman Group LLC owned 0.38% of Calix as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CALX. Meeder Asset Management Inc. bought a new stake in Calix during the first quarter worth approximately $28,000. Signaturefd LLC boosted its position in Calix by 91.1% during the first quarter. Signaturefd LLC now owns 1,007 shares of the communications equipment provider's stock worth $36,000 after purchasing an additional 480 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of Calix during the fourth quarter worth approximately $208,000. Summit Investment Advisors Inc. lifted its holdings in shares of Calix by 8.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,224 shares of the communications equipment provider's stock worth $217,000 after buying an additional 465 shares during the last quarter. Finally, LVW Advisors LLC acquired a new position in shares of Calix during the first quarter worth approximately $226,000. Institutional investors own 98.14% of the company's stock.

Insiders Place Their Bets

In other news, CFO Cory Sindelar sold 10,000 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $56.00, for a total value of $560,000.00. Following the completion of the sale, the chief financial officer directly owned 76,285 shares in the company, valued at approximately $4,271,960. This trade represents a 11.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Carl Russo sold 25,000 shares of the firm's stock in a transaction 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 completion of the sale, the director owned 2,114,188 shares of the company's stock, valued at approximately $117,126,015.20. This trade represents a 1.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,000 shares of company stock valued at $2,465,000. 16.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Roth Capital set a $50.00 price target on Calix and gave the stock a "buy" rating in a report on Tuesday, April 22nd. Needham & Company LLC upped their price target on Calix from $60.00 to $70.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. upped their price target on Calix from $38.00 to $52.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Wolfe Research began coverage on Calix in a research note on Monday, July 7th. They issued a "peer perform" rating for the company. Finally, UBS Group restated a "buy" rating on shares of Calix in a research note on Tuesday, April 22nd. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $59.25.

Calix Stock Up 0.3%

Calix stock traded up $0.1540 during mid-day trading on Wednesday, hitting $56.5740. 763,492 shares of the company were exchanged, compared to its average volume of 714,087. The business has a fifty day moving average of $53.30 and a 200 day moving average of $44.09. Calix, Inc has a 1-year low of $28.60 and a 1-year high of $59.30. The company has a market capitalization of $3.69 billion, a PE ratio of -141.43 and a beta of 1.27.

Calix (NYSE:CALX - Get Free Report) last released its quarterly earnings data 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. Calix had a negative return on equity of 3.21% and a negative net margin of 3.09%.The firm had revenue of $241.90 million during the quarter, compared to analyst estimates of $223.81 million. During the same period in the prior year, the company posted $0.09 earnings per share. The business's revenue for the quarter was up 22.1% compared to the same quarter last year. Calix has set its Q3 2025 guidance at 0.310-0.371 EPS. Research analysts expect that Calix, Inc will post -0.43 earnings per share for the current 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.