Calix, Inc (NYSE:CALX - Get Free Report) Director Carl Russo sold 75,000 shares of the company's stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $36.20, for a total transaction of $2,715,000.00. Following the transaction, the director directly owned 1,569,188 shares of the company's stock, valued at approximately $56,804,605.60. This trade represents a 4.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Calix Trading Up 0.7%
Calix stock opened at $37.10 on Wednesday. The firm has a market cap of $2.34 billion, a P/E ratio of 50.14 and a beta of 1.23. Calix, Inc has a 1-year low of $34.26 and a 1-year high of $71.22. The firm has a 50-day moving average of $38.16 and a 200-day moving average of $45.76.
Calix (NYSE:CALX - Get Free Report) last announced its quarterly earnings results on Monday, July 20th. The communications equipment provider reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.07. Calix had a return on equity of 6.17% and a net margin of 4.61%.The company had revenue of $293.33 million for the quarter, compared to the consensus estimate of $289.96 million. During the same quarter in the previous year, the business earned $0.33 EPS. Calix's revenue was up 21.3% compared to the same quarter last year. Calix has set its Q3 2026 guidance at 0.370-0.450 EPS. Research analysts forecast that Calix, Inc will post 0.89 earnings per share for the current fiscal year.
Calix announced that its Board of Directors has authorized a share buyback program on Tuesday, April 21st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the communications equipment provider to repurchase up to 3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.
Analyst Ratings Changes
A number of brokerages recently commented on CALX. Needham & Company LLC decreased their target price on Calix from $70.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, April 23rd. JPMorgan Chase & Co. cut their price target on shares of Calix from $65.00 to $58.00 and set an "overweight" rating on the stock in a report on Wednesday, July 22nd. Rosenblatt Securities reduced their price objective on shares of Calix from $70.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, July 21st. Zacks Research lowered shares of Calix from a "hold" rating to a "strong sell" rating in a report on Monday, July 20th. Finally, Wall Street Zen cut shares of 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, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Calix has a consensus rating of "Moderate Buy" and a consensus price target of $63.86.
Get Our Latest Stock Report on CALX
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. State Street Corp boosted its position in shares of Calix by 1.0% during the fourth quarter. State Street Corp now owns 2,362,965 shares of the communications equipment provider's stock valued at $125,072,000 after purchasing an additional 23,022 shares in the last quarter. Geode Capital Management LLC raised its holdings in Calix by 5.4% in the fourth 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 in the last quarter. Alliancebernstein L.P. lifted its position in Calix by 4.5% during the third quarter. Alliancebernstein L.P. now owns 1,409,729 shares of the communications equipment provider's stock valued at $86,515,000 after buying an additional 61,247 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Calix by 214.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,274,426 shares of the communications equipment provider's stock valued at $78,212,000 after buying an additional 868,987 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Calix by 28.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,218,495 shares of the communications equipment provider's stock valued at $59,699,000 after buying an additional 269,876 shares in the last quarter. Institutional investors own 98.14% of the company's stock.
About Calix
(
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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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