The Manufacturers Life Insurance Company Makes New Investment in Calix, Inc $CALX

The Manufacturers Life Insurance Company acquired a new stake in shares of Calix, Inc (NYSE:CALX) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 28,945 shares of the communications equipment provider’s stock, valued at approximately $1,080,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Calix in the second quarter worth approximately $439,461,000. State Street Corp lifted its position 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 acquiring an additional 23,022 shares in the last quarter. Geode Capital Management LLC boosted its stake in 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 worth $76,513,000 after purchasing an additional 74,235 shares during the period. Alliancebernstein L.P. grew its position in Calix by 4.5% during the 3rd quarter. Alliancebernstein L.P. now owns 1,409,729 shares of the communications equipment provider’s stock worth $86,515,000 after purchasing an additional 61,247 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Calix by 214.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,274,426 shares of the communications equipment provider’s stock worth $78,212,000 after purchasing an additional 868,987 shares in the last quarter. 98.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Carl Russo sold 75,000 shares of the company’s stock in a transaction on 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 sale, the director directly owned 1,569,188 shares in the company, valued at approximately $56,804,605.60. This represents a 4.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 17.44% of the company’s stock.

Analysts Set New Price Targets

CALX has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their target price on shares of Calix from $65.00 to $58.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Northland Securities upgraded Calix from a “market perform” rating to an “outperform” rating and set a $52.00 price target on the stock in a 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. Rosenblatt Securities reduced their price objective on Calix from $70.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Finally, Wall Street Zen lowered Calix from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $63.86.

Calix Stock Performance

Shares of CALX opened at $36.02 on Friday. The firm has a market cap of $2.27 billion, a PE ratio of 48.68 and a beta of 1.25. The firm’s 50 day moving average price is $38.20 and its 200 day moving average price is $42.89. Calix, Inc has a twelve month low of $34.26 and a twelve month high of $71.22.

Calix (NYSE:CALX) last posted its earnings results on Monday, July 20th. The communications equipment provider reported $0.47 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $289.96 million. During the same period in the previous year, the firm posted $0.33 earnings per share. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. Calix has set its Q3 2026 guidance at 0.370-0.450 EPS. On average, sell-side analysts anticipate that Calix, Inc will post 0.89 earnings per share for the current fiscal year.

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.