Calix, Inc (NYSE:CALX) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Calix has a “Moderate Buy” consensus from nine analysts: seven buys, one hold and one sell. The average 12-month price target is $63.86, well above the stock’s $35.77 opening price.
• Calix’s latest quarterly results exceeded expectations, with EPS of $0.47 versus the $0.40 consensus and revenue of $293.33 million, up 21.3% year over year. The company issued third-quarter EPS guidance of $0.37–$0.45.
• The board approved a $100 million share-repurchase program covering up to 3% of outstanding shares, while director Carl Russo sold 75,000 shares under a pre-arranged trading plan.

Shares of Calix, Inc (NYSE:CALX - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the nine research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $63.8571.

Several analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Calix from $65.00 to $58.00 and set an "overweight" rating for the company in a research note on Wednesday, July 22nd. Northland Securities upgraded shares of Calix from a "market perform" rating to an "outperform" rating and set a $52.00 price target on the stock in a research report on Tuesday, July 21st. Weiss Ratings raised shares of Calix from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, July 23rd. Zacks Research downgraded shares of Calix from a "hold" rating to a "strong sell" rating in a research report on Monday, July 20th. Finally, Roth Capital reiterated a "buy" rating on shares of Calix in a research note on Tuesday, July 21st.

Calix Stock Up 1.7%

NYSE:CALX opened at $35.77 on Friday. The company has a market cap of $2.25 billion, a PE ratio of 48.34 and a beta of 1.23. The business's 50 day moving average is $37.97 and its two-hundred day moving average is $45.46. Calix has a 52 week low of $34.26 and a 52 week high of $71.22.

Calix (NYSE:CALX - Get Free Report) last issued its quarterly earnings results on Monday, July 20th. The communications equipment provider reported $0.47 earnings per share 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 business had revenue of $293.33 million during the quarter, compared to the consensus estimate of $289.96 million. During the same period in the previous year, the business earned $0.33 EPS. The business's quarterly revenue was up 21.3% on a year-over-year basis. Calix has set its Q3 2026 guidance at 0.370-0.450 EPS. As a group, sell-side analysts expect that Calix will post 0.89 EPS for the current fiscal year.

Calix declared that its Board of Directors has approved a share buyback plan on Tuesday, April 21st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the communications equipment provider to purchase up to 3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Insider Activity at Calix

In other news, Director Carl Russo sold 75,000 shares of the company's stock in a transaction that occurred 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 transaction, the director directly owned 1,569,188 shares of the company's stock, valued at approximately $56,804,605.60. This represents a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 17.44% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CALX. 4D Advisors LLC bought a new position in shares of Calix in the fourth quarter worth $6,087,000. GSA Capital Partners LLP raised its stake in shares of Calix by 167.0% during the fourth quarter. GSA Capital Partners LLP now owns 53,867 shares of the communications equipment provider's stock valued at $2,851,000 after purchasing an additional 33,691 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Calix by 5.4% during the fourth quarter. Geode Capital Management LLC now owns 1,445,338 shares of the communications equipment provider's stock valued at $76,513,000 after purchasing an additional 74,235 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Calix by 397,798.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 350,151 shares of the communications equipment provider's stock valued at $18,533,000 after purchasing an additional 350,063 shares in the last quarter. Finally, Intech Investment Management LLC lifted its holdings in Calix by 129.7% in the fourth quarter. Intech Investment Management LLC now owns 101,074 shares of the communications equipment provider's stock worth $5,350,000 after purchasing an additional 57,065 shares during the period. Institutional investors and hedge funds own 98.14% of the company's stock.

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.

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