Key Points
- Director Carl Russo sold 75,000 Calix shares for about $2.33 million under a pre-arranged Rule 10b5-1 plan. He retained 1,494,188 shares after the sale.
- Calix’s latest quarter beat earnings expectations, reporting $0.44 per share versus analysts’ $0.42 estimate, while revenue of $301.71 million fell short of forecasts; revenue grew 13.7% year over year.
- Analysts’ consensus rating is Moderate Buy, with a $55.80 price target. Shares opened at $32.23, well below that target and their $65.00 12-month high.
Calix, Inc (NYSE:CALX - Get Free Report) Director Carl Russo sold 75,000 shares of the business's stock in a transaction on Friday, November 6th. The stock was sold at an average price of $31.07, for a total value of $2,330,250.00. Following the sale, the director owned 1,494,188 shares in the company, valued at $46,424,421.16. This represents a 4.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Calix Stock Up 5.3%
Shares of CALX opened at $32.23 on Tuesday. The stock has a market cap of $1.99 billion, a PE ratio of 47.40 and a beta of 1.21. Calix, Inc has a 12-month low of $30.55 and a 12-month high of $65.00. The business has a 50-day simple moving average of $35.49 and a two-hundred day simple moving average of $41.95.
Calix (NYSE:CALX - Get Free Report) last announced its quarterly earnings results on Monday, November 2nd. The communications equipment provider reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. The firm had revenue of $301.71 million for the quarter, compared to analyst estimates of $304.23 million. Calix had a return on equity of 5.67% and a net margin of 3.99%. The business's revenue for the quarter was up 13.7% on a year-over-year basis. During the same period last year, the firm posted $0.44 earnings per share. On average, equities research analysts expect that Calix, Inc will post 0.85 EPS for the current year.
Trending Headlines about Calix
Here are the key news stories impacting Calix this week:
- Positive Sentiment: Brokerages’ reported consensus target price of $55.80 is well above CALX’s recent trading level, suggesting potential upside in analysts’ valuation outlook. The figure may not reflect a new estimate. Calix consensus target price
- Neutral Sentiment: Calix announced upcoming investor events, including conferences and a company-hosted bus tour where executives will meet with investors. These provide opportunities for updates but no new financial guidance was included in the announcement. Calix Announces Upcoming Investor Events
- Neutral Sentiment: The A$10 million investment agreement for a green iron project relates to Calix Ltd. (Australia: CXL), not Calix, Inc. (NYSE: CALX), so it should not be treated as news about this stock. Calix Ltd. green iron project announcement
- Negative Sentiment: Director Carl Russo sold 75,000 shares for about $2.33 million. The sale was made under a pre-arranged Rule 10b5-1 plan, and he retained nearly 1.5 million shares, which may temper concerns but does not eliminate the potential negative sentiment from insider selling. Calix insider share sale
- Negative Sentiment: Wall Street Zen cut its rating on CALX to “Buy,” a downgrade from its prior rating, although the recommendation remains positive. Calix rating cut to Buy
Institutional Investors Weigh In On Calix
Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Calix during the 2nd quarter worth approximately $439,461,000. Dimensional Fund Advisors LP increased its stake in shares of Calix by 28.4% in 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 acquiring an additional 269,876 shares in the last quarter. Paradigm Capital Management Inc. NY increased its stake in shares of Calix by 14.2% in the 1st quarter. Paradigm Capital Management Inc. NY now owns 768,200 shares of the communications equipment provider's stock valued at $37,634,000 after acquiring an additional 95,800 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Calix by 63.3% during the 1st quarter. Bank of America Corp DE now owns 750,117 shares of the communications equipment provider's stock valued at $36,748,000 after acquiring an additional 290,661 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH acquired a new position in shares of Calix during the 3rd quarter valued at $32,090,000. 98.14% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the company. Rosenblatt Securities reaffirmed a "buy" rating and issued a $55.00 price objective on shares of Calix in a research note on Wednesday, November 4th. Weiss Ratings downgraded shares of Calix from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, October 26th. JPMorgan Chase & Co. decreased their target price on shares of Calix from $58.00 to $50.00 and set an "overweight" rating for the company in a research report on Wednesday, November 4th. Zacks Research raised shares of Calix from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 18th. Finally, Roth Capital restated a "buy" rating on shares of Calix in a report on Tuesday, July 21st. Five 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 stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.80.
View Our Latest Analysis on Calix
Calix Company Profile
(
Get Free Report)
Calix, Inc provides cloud, software, systems and services to broadband service providers. Its offerings are designed to help providers build and manage access networks, improve operations and deliver broadband services and digital experiences to residential and business subscribers.
The company's portfolio includes the Calix Broadband Platform, which brings together network access systems, software and cloud-based applications. Products and services support network management, subscriber experience and the delivery of services such as broadband connectivity and managed Wi-Fi.
Founded in 1999 and headquartered in San Jose, California, Calix serves communications service providers in multiple markets, including providers in North America.
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