Russell Investments Group Ltd. Raises Stock Position in Calix, Inc $CALX

Key Points

• Russell Investments Group Ltd. increased its stake in Calix, Inc by 50.4% during Q1, now owning 107,313 shares valued at approximately $3.8 million.
• Calix reported a Q2 EPS of $0.33, beating expectations and showing a 22.1% year-over-year revenue growth of $241.9 million.
• Recent analyst upgrades have resulted in Calix receiving a consensus rating of "Moderate Buy" with a price target of $59.25.

Russell Investments Group Ltd. increased its stake in shares of Calix, Inc (NYSE:CALX - Free Report) by 50.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,313 shares of the communications equipment provider's stock after buying an additional 35,976 shares during the quarter. Russell Investments Group Ltd. owned about 0.17% of Calix worth $3,803,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CALX. Marshall Wace LLP purchased a new stake in Calix during the 4th quarter valued at about $2,021,000. Dimensional Fund Advisors LP boosted its position in Calix by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,832,407 shares of the communications equipment provider's stock valued at $63,897,000 after buying an additional 74,720 shares during the last quarter. MetLife Investment Management LLC boosted its position in Calix by 5.9% in the fourth quarter. MetLife Investment Management LLC now owns 35,632 shares of the communications equipment provider's stock valued at $1,242,000 after buying an additional 1,971 shares during the last quarter. Stifel Financial Corp boosted its position in Calix by 10.9% in the fourth quarter. Stifel Financial Corp now owns 19,512 shares of the communications equipment provider's stock valued at $680,000 after buying an additional 1,924 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its position in Calix by 15.4% in the fourth quarter. Hsbc Holdings PLC now owns 20,200 shares of the communications equipment provider's stock valued at $700,000 after buying an additional 2,693 shares during the last quarter. 98.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Calix news, CFO Cory Sindelar sold 10,000 shares of the firm'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 transaction, the chief financial officer directly owned 76,285 shares of the company's stock, valued at $4,271,960. This trade represents a 11.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carl Russo sold 25,000 shares of the firm'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 directly owned 2,114,188 shares in the company, valued at $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 three months, insiders sold 45,000 shares of company stock worth $2,465,000. Insiders own 16.90% of the company's stock.

Calix Stock Performance

Shares of NYSE:CALX traded up $0.03 during midday trading on Wednesday, reaching $59.50. 116,760 shares of the company's stock traded hands, compared to its average volume of 753,749. Calix, Inc has a 1 year low of $28.60 and a 1 year high of $59.90. The company has a market cap of $3.89 billion, a P/E ratio of -148.67 and a beta of 1.27. The company has a fifty day simple moving average of $54.18 and a two-hundred day simple moving average of $44.59.

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, beating analysts' consensus estimates of ($0.08) by $0.41. The business had revenue of $241.90 million during the quarter, compared to analysts' expectations of $223.81 million. Calix had a negative return on equity of 3.21% and a negative net margin of 3.09%.The business's revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 earnings per share. Calix has set its Q3 2025 guidance at 0.310-0.371 EPS. As a group, research analysts forecast that Calix, Inc will post -0.43 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on CALX. Rosenblatt Securities upped their price objective on shares of Calix from $56.00 to $65.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Wall Street Zen upgraded Calix from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Wolfe Research assumed coverage on Calix in a research note on Monday, July 7th. They issued a "peer perform" rating on the stock. JPMorgan Chase & Co. upped their price objective on Calix from $38.00 to $52.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Finally, Needham & Company LLC upped their price objective on Calix from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Calix has a consensus rating of "Moderate Buy" and a consensus price target of $59.25.

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.