Here are the Reasons for the Strong Performance of Calix (CALX)

Chartwell Investment Partners, an affiliate of Carillon Tower Advisers, an investment management company, released its “Carillon Chartwell Small Cap Growth Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. The fund slightly underperformed relative to its benchmark Russell 2000 Growth Index. The letter noted that although there is a positive momentum in the US market, still there are many challenges that slow growth. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower Advisers highlighted stocks like Calix, Inc. (NYSE:CALX) in its Q3 2022 investor letter. Headquartered in Phoenix, Arizona, Calix, Inc. (NYSE:CALX) is a cloud software platform provider. On December 12, 2022, Calix, Inc. (NYSE:CALX) stock closed at $74.42 per share. One-month return of Calix, Inc. (NYSE:CALX) was 10.96% and its shares gained 15.70% of their value over the last 52 weeks. Calix, Inc. (NYSE:CALX) has a market capitalization of $4.87 billion.

Carillon Tower Advisers made the following comment about Calix, Inc. (NYSE:CALX) in its Q3 2022 investor letter:

“Another strong performer during Q3 was Calix, Inc. (NYSE:CALX). Calix stock rebounded sharply in the quarter after reporting stellar earnings. They offer next-gen fiber broadband solutions to telecommunication companies primarily for rural markets. The broadband buildout in rural markets is still in the early innings, and the company’s subscription model offers great visibility going forward.”

Calix, Inc. (NYSE:CALX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 24 hedge fund portfolios held Calix, Inc. (NYSE:CALX) at the end of the third quarter, which was 22 in the previous quarter.

We discussed Calix, Inc. (NYSE:CALX) in another article and shared the  best mid-cap stocks to invest in. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.