Calix, Inc (NYSE:CALX - Get Free Report) Director Carl Russo sold 25,000 shares of the firm's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $43.26, for a total transaction of $1,081,500.00. Following the sale, the director directly owned 1,644,188 shares in the company, valued at approximately $71,127,572.88. The trade was a 1.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Calix Price Performance
Shares of Calix stock opened at $42.00 on Wednesday. The firm's fifty day simple moving average is $49.96 and its 200-day simple moving average is $54.02. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 87.50 and a beta of 1.53. Calix, Inc has a 12 month low of $39.87 and a 12 month high of $71.22.
Calix (NYSE:CALX - Get Free Report) last announced its earnings results on Tuesday, April 21st. The communications equipment provider reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.03. The business had revenue of $279.98 million for the quarter, compared to analysts' expectations of $277.50 million. Calix had a net margin of 3.20% and a return on equity of 4.30%. The company's quarterly revenue was up 27.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 EPS. Calix has set its Q2 2026 guidance at 0.350-0.450 EPS. Analysts anticipate that Calix, Inc will post 0.85 earnings per share for the current year.
Calix declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 28th that allows the company to repurchase $125.00 million in outstanding shares. This repurchase authorization allows the communications equipment provider to purchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.
Analyst Ratings Changes
CALX has been the topic of a number of recent research reports. Roth Mkm reaffirmed a "buy" rating on shares of Calix in a report on Thursday, April 23rd. Craig Hallum set a $60.00 price objective on shares of Calix in a research note on Friday, January 30th. Zacks Research cut shares of Calix from a "hold" rating to a "strong sell" rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. dropped their price objective on shares of Calix from $70.00 to $65.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 22nd. Finally, Needham & Company LLC dropped their price objective on shares of Calix from $70.00 to $62.00 and set a "buy" rating on the stock in a research note on Thursday, April 23rd. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $67.00.
View Our Latest Stock Report on CALX
Institutional Investors Weigh In On Calix
Several institutional investors have recently made changes to their positions in CALX. Clearstead Advisors LLC boosted its position in shares of Calix by 139.3% during the 3rd quarter. Clearstead Advisors LLC now owns 438 shares of the communications equipment provider's stock worth $27,000 after purchasing an additional 255 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Calix by 63.0% during the 4th quarter. Farther Finance Advisors LLC now owns 551 shares of the communications equipment provider's stock worth $29,000 after purchasing an additional 213 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Calix during the 2nd quarter worth $30,000. Whittier Trust Co. boosted its position in shares of Calix by 541.0% during the 3rd quarter. Whittier Trust Co. now owns 641 shares of the communications equipment provider's stock worth $38,000 after purchasing an additional 541 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Calix by 24,733.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 745 shares of the communications equipment provider's stock worth $39,000 after purchasing an additional 742 shares in the last quarter. 98.14% of the stock is currently owned by hedge funds and other institutional investors.
About Calix
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Get Free Report)
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.
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