Calix (NYSE:CALX) Director Carl Russo Sells 75,000 Shares

Key Points

• Director Carl Russo sold 75,000 Calix shares at an average price of $36.20, generating $2.715 million. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, leaving him with 1,569,188 shares.
• Calix recently beat quarterly expectations, reporting $0.47 EPS versus the $0.40 consensus and $293.33 million in revenue, up 21.3% year over year. The company guided for third-quarter EPS of $0.37–$0.45.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and a $63.86 price target, while several firms recently lowered their targets. Calix also authorized a $100 million share-repurchase program.

Calix, Inc (NYSE:CALX - Get Free Report) Director Carl Russo sold 75,000 shares of the firm's stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $36.20, for a total value of $2,715,000.00. Following the sale, the director owned 1,569,188 shares in the company, valued at approximately $56,804,605.60. The trade was a 4.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Calix Price Performance

Calix stock traded up $0.25 during midday trading on Tuesday, hitting $37.10. 991,472 shares of the company were exchanged, compared to its average volume of 1,145,317. The company has a market cap of $2.34 billion, a PE ratio of 50.14 and a beta of 1.23. Calix, Inc has a fifty-two week low of $34.26 and a fifty-two week high of $71.22. The company's fifty day moving average price is $38.21 and its 200-day moving average price is $45.87.

Calix (NYSE:CALX - Get Free Report) last issued its quarterly earnings data on Monday, July 20th. The communications equipment provider reported $0.47 earnings per share (EPS) 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 the consensus estimate of $289.96 million. Calix had a net margin of 4.61% and a return on equity of 6.17%. Calix's revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter last year, the company earned $0.33 earnings per share. Calix has set its Q3 2026 guidance at 0.370-0.450 EPS. On average, analysts expect that Calix, Inc will post 0.89 EPS for the current fiscal year.

Calix declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, April 21st that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the communications equipment provider to repurchase up to 3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. LVW Advisors LLC increased its position in shares of Calix by 2.0% in the 4th quarter. LVW Advisors LLC now owns 9,655 shares of the communications equipment provider's stock worth $511,000 after purchasing an additional 188 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Calix by 63.0% in the fourth 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. Smartleaf Asset Management LLC grew its stake in Calix by 27.0% in the second quarter. Smartleaf Asset Management LLC now owns 1,245 shares of the communications equipment provider's stock worth $64,000 after purchasing an additional 265 shares in the last quarter. Maryland State Retirement & Pension System increased its holdings in Calix by 3.2% in the fourth quarter. Maryland State Retirement & Pension System now owns 8,813 shares of the communications equipment provider's stock valued at $466,000 after buying an additional 270 shares during the last quarter. Finally, Vident Advisory LLC increased its holdings in Calix by 2.8% in the fourth quarter. Vident Advisory LLC now owns 10,570 shares of the communications equipment provider's stock valued at $559,000 after buying an additional 287 shares during the last quarter. 98.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CALX has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Calix from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 18th. Rosenblatt Securities lowered their target price on Calix from $70.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday, July 21st. JPMorgan Chase & Co. dropped 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. Roth Capital reiterated a "buy" rating on shares of Calix in a research note on Tuesday, July 21st. Finally, Weiss Ratings raised Calix from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Calix presently has a consensus 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.

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