Calix (NYSE:CALX) Director Sells $2,715,000.00 in Stock

Calix, Inc (NYSE:CALX) Director Carl Russo sold 75,000 shares of the business’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $36.20, for a total transaction of $2,715,000.00. Following the completion of the sale, the director directly owned 1,569,188 shares in the company, valued at approximately $56,804,605.60. This represents a 4.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Calix Stock Down 0.8%

Shares of NYSE:CALX opened at $35.28 on Friday. The firm has a market cap of $2.22 billion, a P/E ratio of 47.67 and a beta of 1.23. Calix, Inc has a 12-month low of $34.26 and a 12-month high of $71.22. The business has a fifty day simple moving average of $38.04 and a 200 day simple moving average of $45.53.

Calix (NYSE:CALX) last issued its quarterly earnings results on Monday, July 20th. The communications equipment provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.07. The company had revenue of $293.33 million during the quarter, compared to analysts’ expectations of $289.96 million. Calix had a return on equity of 6.17% and a net margin of 4.61%.The business’s quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 earnings per share. Calix has set its Q3 2026 guidance at 0.370-0.450 EPS. As a group, equities research analysts expect that Calix, Inc will post 0.89 EPS for the current year.

Calix declared that its Board of Directors has initiated a share buyback program on Tuesday, April 21st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the communications equipment provider to reacquire up to 3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Calix

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its position in shares of Calix by 11.0% during the 1st quarter. Royal Bank of Canada now owns 28,022 shares of the communications equipment provider’s stock worth $993,000 after purchasing an additional 2,773 shares in the last quarter. AQR Capital Management LLC increased its position in Calix by 304.1% in the 1st quarter. AQR Capital Management LLC now owns 44,874 shares of the communications equipment provider’s stock valued at $1,538,000 after buying an additional 33,769 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Calix by 10.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 176,328 shares of the communications equipment provider’s stock valued at $6,249,000 after buying an additional 16,905 shares in the last quarter. Intech Investment Management LLC raised its stake in Calix by 26.8% during the 1st quarter. Intech Investment Management LLC now owns 32,923 shares of the communications equipment provider’s stock worth $1,167,000 after buying an additional 6,962 shares during the period. Finally, Amundi boosted its holdings in Calix by 16,478.0% in the second quarter. Amundi now owns 9,781 shares of the communications equipment provider’s stock worth $518,000 after acquiring an additional 9,722 shares in the last quarter. 98.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CALX has been the topic of several recent analyst reports. Rosenblatt Securities dropped their target price on shares of Calix from $70.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, July 21st. Northland Securities raised Calix from a “market perform” rating to an “outperform” rating and set a $52.00 price objective for the company in a research report on Tuesday, July 21st. Roth Capital reissued a “buy” rating on shares of Calix in a research note on Tuesday, July 21st. JPMorgan Chase & Co. cut their target price on Calix from $65.00 to $58.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. Finally, Zacks Research cut Calix from a “hold” rating to a “strong sell” rating in a research note on Monday, July 20th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.86.

Calix Company Profile

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.