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

A number of other institutional investors have also made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Calix by 18.6% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 315,794 shares of the communications equipment provider's stock worth $11,192,000 after purchasing an additional 49,597 shares during the period. Townsquare Capital LLC increased its stake in shares of Calix by 17.0% in the first quarter. Townsquare Capital LLC now owns 89,219 shares of the communications equipment provider's stock worth $3,162,000 after purchasing an additional 12,976 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Calix by 4.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 679,367 shares of the communications equipment provider's stock worth $24,077,000 after purchasing an additional 30,123 shares during the period. Vanguard Group Inc. increased its stake in shares of Calix by 0.5% in the first quarter. Vanguard Group Inc. now owns 8,015,370 shares of the communications equipment provider's stock worth $284,065,000 after purchasing an additional 37,601 shares during the period. Finally, US Bancorp DE increased its stake in shares of Calix by 37.1% in the first quarter. US Bancorp DE now owns 7,372 shares of the communications equipment provider's stock worth $261,000 after purchasing an additional 1,996 shares during the period. 98.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity at Calix

In related news, CFO Cory Sindelar sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $56.00, for a total value of $560,000.00. Following the completion of the transaction, the chief financial officer owned 76,285 shares in the company, valued at $4,271,960. The trade was a 11.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Carl Russo sold 25,000 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $55.40, for a total transaction of $1,385,000.00. Following the completion of the transaction, the director owned 2,114,188 shares of the company's stock, valued at $117,126,015.20. This trade represents a 1.17% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,000 shares of company stock valued at $2,465,000 in the last 90 days. 16.90% of the stock is currently owned by corporate insiders.

Calix Stock Performance

NYSE CALX traded up $0.68 during trading on Tuesday, reaching $59.49. 813,684 shares of the company traded hands, compared to its average volume of 618,875. The stock's 50 day moving average price is $54.18 and its two-hundred day moving average price is $44.59. The company has a market cap of $3.88 billion, a price-to-earnings ratio of -148.72 and a beta of 1.27. Calix, Inc has a 1-year low of $28.60 and a 1-year high of $59.63.

Calix (NYSE:CALX - Get Free Report) last announced its earnings results on Monday, July 21st. The communications equipment provider reported $0.33 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.41. The business had revenue of $241.90 million for 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%.Calix's revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 EPS. Calix has set its Q3 2025 guidance at 0.310-0.371 EPS. Equities research analysts expect that Calix, Inc will post -0.43 EPS 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.