Nuveen LLC Takes Position in Calix, Inc $CALX

Key Points

• Nuveen LLC acquired 429,088 shares of Calix, Inc for approximately $15.2 million, representing about 0.66% of the company after the recent purchase.
• Equities analysts have increased their price targets for Calix, with JPMorgan raising it to $52.00 and Needham setting it at $70.00, indicating a consensus rating of "Moderate Buy."
• Calix reported earnings of $0.33 per share, beating expectations, with a quarterly revenue of $241.9 million, up 22.1% year-over-year.

Nuveen LLC purchased a new position in Calix, Inc (NYSE:CALX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 429,088 shares of the communications equipment provider's stock, valued at approximately $15,207,000. Nuveen LLC owned approximately 0.66% of Calix as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Meeder Asset Management Inc. acquired a new position in shares of Calix in the first quarter worth $28,000. Signaturefd LLC grew its stake in shares of Calix by 91.1% in the first quarter. Signaturefd LLC now owns 1,007 shares of the communications equipment provider's stock worth $36,000 after acquiring an additional 480 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Calix in the fourth quarter worth $208,000. LVW Advisors LLC acquired a new position in shares of Calix in the first quarter worth $226,000. Finally, Kera Capital Partners Inc. acquired a new position in shares of Calix in the first quarter worth $261,000. Institutional investors and hedge funds own 98.14% of the company's stock.

Insiders Place Their Bets

In related news, Director Carl Russo sold 25,000 shares of the business'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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Cory Sindelar sold 10,000 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $56.00, for a total transaction of $560,000.00. Following the completion of the sale, the chief financial officer directly owned 76,285 shares of the company's stock, valued at approximately $4,271,960. This trade represents a 11.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,000 shares of company stock valued at $2,465,000. 16.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Rosenblatt Securities boosted their price target on shares of Calix from $56.00 to $65.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Wall Street Zen upgraded shares of Calix from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Wolfe Research started coverage on shares of Calix in a research note on Monday, July 7th. They set a "peer perform" rating for the company. Needham & Company LLC boosted their target price on shares of Calix from $60.00 to $70.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Calix from $38.00 to $52.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Four research 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 has an average rating of "Moderate Buy" and an average price target of $59.25.

Calix Stock Up 2.5%

CALX traded up $1.4030 on Friday, reaching $58.5330. The company had a trading volume of 464,435 shares, compared to its average volume of 645,314. Calix, Inc has a 1 year low of $28.60 and a 1 year high of $59.30. The stock has a market capitalization of $3.82 billion, a PE ratio of -146.33 and a beta of 1.27. The stock has a 50-day moving average price of $53.71 and a 200-day moving average price of $44.35.

Calix (NYSE:CALX - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The communications equipment provider reported $0.33 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $223.81 million. During the same period in the previous year, the company earned $0.09 earnings per share. Calix'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, analysts expect 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.