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Needham Lists Its Top Picks After Attending Fiber Connect 2022 Conference

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·1 min read
In this article:
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  • Needham analysts Ryan Koontz and Chad Tevebaugh attended the Fiber Connect 2022 conference in Nashville. They heard from U.S. operators and met with many public and private companies in the broadband access space.

  • The main topics of discussion were the several sources of U.S. government funding worth ~$100 billion+ for distribution over the next 6+ years and the labor challenges and requirements to meet current and future robust demand for Fiber.

  • The conference saw record attendance, up 50% y/y, though few investors.

  • Industry supply chain concerns appear to be easing modestly from the low points in Q1.

  • The analysts increasingly view the build-out of Fiber to the home (FTTH), supported by substantial federal subsidies, as relatively recession-resistant while providing longevity with funding set to extend through at least 2028.

  • They continue to view it as the top investment theme in their coverage universe, with Clearfield, Inc (NASDAQ: CLFD) and Calix, Inc (NYSE: CALX) as their top picks.

  • Price Action: CALX shares traded lower by 8.27% at $31.88 on the last check Thursday.

Latest Ratings for CALX

Date

Firm

Action

From

To

Feb 2022

Loop Capital

Initiates Coverage On

Buy

Jan 2022

Craig-Hallum

Upgrades

Hold

Buy

Oct 2021

Needham

Maintains

Buy

View More Analyst Ratings for CALX

View the Latest Analyst Ratings

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