Citigroup Inc. Sells 55,137 Shares of Calix, Inc $CALX

Citigroup Inc. lowered its position in shares of Calix, Inc (NYSE:CALX) by 56.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,143 shares of the communications equipment provider’s stock after selling 55,137 shares during the period. Citigroup Inc. owned about 0.07% of Calix worth $2,648,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. SouthState Corp boosted its holdings in shares of Calix by 10,000.0% during the second quarter. SouthState Corp now owns 505 shares of the communications equipment provider’s stock worth $27,000 after purchasing an additional 500 shares during the period. Raymond James Financial Inc. purchased a new position in Calix during the 2nd quarter valued at about $30,000. Whittier Trust Co. raised its position in Calix by 541.0% during the 3rd quarter. Whittier Trust Co. now owns 641 shares of the communications equipment provider’s stock valued at $38,000 after purchasing an additional 541 shares during the last quarter. Covestor Ltd raised its position in Calix by 125.4% during the 3rd quarter. Covestor Ltd now owns 656 shares of the communications equipment provider’s stock valued at $40,000 after purchasing an additional 365 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Calix by 27.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,245 shares of the communications equipment provider’s stock worth $64,000 after buying an additional 265 shares during the period. Hedge funds and other institutional investors own 98.14% of the company’s stock.

Wall Street Analyst Weigh In

CALX has been the subject of a number of research analyst reports. Wall Street Zen lowered Calix from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 7th. Zacks Research raised shares of Calix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 28th. Needham & Company LLC dropped their target price on shares of Calix from $82.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, January 29th. Craig Hallum set a $60.00 target price on shares of Calix in a research note on Friday, January 30th. Finally, JPMorgan Chase & Co. upgraded shares of Calix from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $75.00 to $90.00 in a research report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $77.50.

Calix Stock Performance

Shares of CALX opened at $50.50 on Friday. Calix, Inc has a fifty-two week low of $28.60 and a fifty-two week high of $71.22. The firm’s 50-day simple moving average is $53.20 and its two-hundred day simple moving average is $57.08. The stock has a market cap of $3.31 billion, a PE ratio of 202.00 and a beta of 1.49.

Calix (NYSE:CALX) last posted its quarterly earnings data on Wednesday, January 28th. The communications equipment provider reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Calix had a return on equity of 2.31% and a net margin of 1.79%.The company had revenue of $272.40 million during the quarter, compared to analyst estimates of $267.36 million. During the same quarter last year, the company earned $0.08 EPS. The firm’s revenue for the quarter was up 32.2% on a year-over-year basis. Calix has set its Q1 2026 guidance at 0.340-0.400 EPS. Equities research analysts predict that Calix, Inc will post -0.43 EPS for the current year.

Calix announced that its Board of Directors has authorized a stock buyback plan on Wednesday, January 28th that permits the company to buyback $125.00 million in shares. This buyback authorization permits the communications equipment provider to reacquire up to 3.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.