North Star Asset Management Inc. Takes Position in Calix, Inc $CALX

North Star Asset Management Inc. bought a new position in shares of Calix, Inc (NYSE:CALX) in the second quarter, Holdings Channel reports. The firm bought 111,554 shares of the communications equipment provider’s stock, valued at approximately $4,163,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Calix during the second quarter valued at approximately $439,461,000. State Street Corp increased its position in shares of Calix by 1.0% in the fourth quarter. State Street Corp now owns 2,362,965 shares of the communications equipment provider’s stock worth $125,072,000 after acquiring an additional 23,022 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Calix by 5.4% in the 4th quarter. Geode Capital Management LLC now owns 1,445,338 shares of the communications equipment provider’s stock valued at $76,513,000 after acquiring an additional 74,235 shares during the period. Alliancebernstein L.P. raised its stake in shares of Calix by 4.5% in the 3rd quarter. Alliancebernstein L.P. now owns 1,409,729 shares of the communications equipment provider’s stock valued at $86,515,000 after acquiring an additional 61,247 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Calix by 214.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,274,426 shares of the communications equipment provider’s stock valued at $78,212,000 after acquiring an additional 868,987 shares during the period. Institutional investors and hedge funds own 98.14% of the company’s stock.

Calix Stock Down 1.9%

CALX opened at $37.63 on Friday. The firm’s 50 day moving average is $38.10 and its 200-day moving average is $43.50. Calix, Inc has a 52-week low of $34.26 and a 52-week high of $71.22. The firm has a market capitalization of $2.37 billion, a P/E ratio of 50.85 and a beta of 1.24.

Calix (NYSE:CALX) last announced its earnings results on Monday, July 20th. The communications equipment provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.07. The business had revenue of $293.33 million during the quarter, compared to the consensus estimate of $289.96 million. Calix had a net margin of 4.61% and a return on equity of 6.17%. The business’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 earnings per share. Calix has set its Q3 2026 guidance at 0.370-0.450 EPS. Equities analysts expect that Calix, Inc will post 0.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Calix news, Director Carl Russo sold 75,000 shares of the company’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $36.20, for a total value of $2,715,000.00. Following the completion of the transaction, the director directly owned 1,569,188 shares of the company’s stock, valued at $56,804,605.60. This represents a 4.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.44% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CALX shares. Northland Securities raised 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 report on Tuesday, July 21st. Zacks Research raised Calix from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Weiss Ratings upgraded Calix from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday. JPMorgan Chase & Co. reduced their price objective on Calix from $65.00 to $58.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Finally, Rosenblatt Securities decreased their target price on Calix from $70.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.86.

Calix Profile

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.