Principal Financial Group Inc. Boosts Holdings in Calix, Inc $CALX

Key Points

• Principal Financial Group increased its stake in Calix by 15.4% in the first quarter, bringing its holdings to 395,333 shares valued at about $19.4 million.
• Calix reported better-than-expected quarterly results, posting EPS of $0.47 on revenue of $293.3 million, with revenue up 21.3% year over year.
• The company’s board authorized a $100 million share buyback, while analysts remain mixed but generally constructive, with a consensus rating of “Moderate Buy.”

Principal Financial Group Inc. raised its stake in Calix, Inc (NYSE:CALX - Free Report) by 15.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 395,333 shares of the communications equipment provider's stock after acquiring an additional 52,685 shares during the period. Principal Financial Group Inc. owned 0.62% of Calix worth $19,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in CALX. State Street Corp lifted its holdings in shares of Calix by 1.0% in the 4th quarter. State Street Corp now owns 2,362,965 shares of the communications equipment provider's stock valued at $125,072,000 after purchasing an additional 23,022 shares during the last quarter. Geode Capital Management LLC grew its stake in Calix by 5.4% during the 4th quarter. Geode Capital Management LLC now owns 1,445,338 shares of the communications equipment provider's stock worth $76,513,000 after buying an additional 74,235 shares during the last quarter. Alliancebernstein L.P. increased its position in Calix by 4.5% during the third quarter. Alliancebernstein L.P. now owns 1,409,729 shares of the communications equipment provider's stock worth $86,515,000 after buying an additional 61,247 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Calix by 214.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,274,426 shares of the communications equipment provider's stock worth $78,212,000 after buying an additional 868,987 shares during the period. Finally, Westfield Capital Management Co. LP lifted its stake in Calix by 67.4% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,145,292 shares of the communications equipment provider's stock valued at $60,620,000 after buying an additional 461,196 shares during the last quarter. Hedge funds and other institutional investors own 98.14% of the company's stock.

Calix Price Performance

Shares of NYSE CALX opened at $35.92 on Thursday. The stock has a fifty day moving average price of $38.45 and a 200 day moving average price of $46.25. Calix, Inc has a 1-year low of $34.26 and a 1-year high of $71.22. The company has a market cap of $2.29 billion, a PE ratio of 48.55 and a beta of 1.23.

Calix (NYSE:CALX - Get Free Report) last announced its quarterly earnings data on Monday, July 20th. The communications equipment provider reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.07. Calix had a net margin of 4.61% and a return on equity of 6.17%. The company had revenue of $293.33 million for the quarter, compared to analysts' expectations of $289.96 million. During the same period in the previous year, the company posted $0.33 EPS. Calix's revenue was up 21.3% compared to the same quarter last year. Calix has set its Q3 2026 guidance at 0.370-0.450 EPS. Analysts anticipate that Calix, Inc will post 0.83 earnings per share for the current fiscal year.

Calix announced that its board has authorized a share buyback plan on Tuesday, April 21st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the communications equipment provider to repurchase up to 3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its shares are undervalued.

Insider Transactions at Calix

In related news, Director Carl Russo sold 25,000 shares of the stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $43.26, for a total transaction of $1,081,500.00. Following the completion of the transaction, the director directly owned 1,644,188 shares of the company's stock, valued at $71,127,572.88. This represents a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.44% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CALX shares. JPMorgan Chase & Co. decreased their price objective on Calix from $65.00 to $58.00 and set an "overweight" rating for the company in a report on Wednesday. Northland Securities upgraded shares of Calix from a "market perform" rating to an "outperform" rating and set a $52.00 price target for the company in a research note on Tuesday. Zacks Research downgraded shares of Calix from a "hold" rating to a "strong sell" rating in a research report on Monday. Roth Capital restated a "buy" rating on shares of Calix in a research note on Tuesday. Finally, Weiss Ratings downgraded shares of Calix from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, July 2nd. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $63.86.

Calix News Roundup

Here are the key news stories impacting Calix this week:

• Positive Sentiment: Calix reported strong Q2 results, beating estimates with revenue of $293.3 million and EPS of $0.47, supported by record software gains and growth in recurring services. Analysts at JPMorgan and Northland also maintained bullish views, even as they trimmed price targets. Calix Inc (CALX) Q2 2026 Earnings Call Highlights: Record Revenue and Strategic Growth Amid ...
• Neutral Sentiment: The company’s AI-broadband strategy and broader push into software and recurring revenue remain a long-term growth story, but investors are still weighing execution and margin pressure. Calix AI Broadband Strategy Shows Where Fiber Networks Are Heading
• Neutral Sentiment: Multiple law firms issued deadline reminders about an already filed securities class action, with the lead plaintiff deadline set for July 27, 2026. These notices do not change fundamentals, but they can keep sentiment fragile until the case progresses. CALX DEADLINE ALERT: ROSEN, A HIGHLY RECOGNIZED LAW FIRM, Encourages Calix, Inc. Investors to Secure Counsel Before Important July 27 Deadline in Securities Class Action - CALX
• Neutral Sentiment: Calix also faced mixed analyst commentary, including a JPMorgan price-target cut and a Zacks downgrade, although both still highlighted meaningful upside from current levels. Analyst rating and price target updates
• Negative Sentiment: The biggest near-term concern is margin compression: management warned that rising memory costs tied to AI demand are pressuring gross margins in Q3, overshadowing the strong revenue beat and helping drive the stock lower. Calix Slides as Margin Outlook Overshadows Record Q2 Results

About Calix

Calix, Inc is a provider of cloud and software platforms, systems, and services that enable broadband service providers to transform their networks and subscriber experiences. The company's flagship Calix Cloud platform delivers real-time analytics, automation and intelligence designed to simplify network operations, improve service agility and drive revenue growth. Calix also offers a comprehensive suite of premises and access systems, including broadband access nodes, fiber-to-the-home optics and residential gateways under the GigaSpire brand.

Through its software-defined network architecture, Calix helps service providers virtualize key network functions and introduce new services with minimal capital expenditure.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.