Calix (NYSE:CALX) Raised to Outperform at Northland Securities

Key Points

• Northland Securities upgraded Calix from “market perform” to “outperform” and set a $52 price target, implying about 44% upside from the current share price.
• The stock traded lower on the day, falling 5.9% to $36.09, even as recent analyst sentiment remained generally positive with a Moderate Buy consensus and an average target of $64.86.
• Calix recently reported better-than-expected quarterly results, with EPS of $0.47 versus $0.40 expected and revenue up 21.3% year over year, while also guiding Q3 EPS to $0.37–$0.45.

Calix (NYSE:CALX - Get Free Report) was upgraded by stock analysts at Northland Securities from a "market perform" rating to an "outperform" rating in a note issued to investors on Tuesday, Marketbeat reports. The firm presently has a $52.00 price objective on the communications equipment provider's stock. Northland Securities' price objective would suggest a potential upside of 44.10% from the company's current price.

A number of other research analysts also recently weighed in on the stock. Needham & Company LLC cut their price target on shares of Calix from $70.00 to $62.00 and set a "buy" rating on the stock in a report on Thursday, April 23rd. Rosenblatt Securities cut their price objective on Calix from $70.00 to $55.00 and set a "buy" rating on the stock in a research note on Tuesday. Wall Street Zen cut Calix from a "strong-buy" rating to a "buy" rating in a research report on Saturday. JPMorgan Chase & Co. lowered their price target on Calix from $70.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday, April 22nd. Finally, Weiss Ratings lowered shares of Calix from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, July 2nd. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $64.86.

Calix Stock Down 5.9%

Shares of NYSE CALX traded down $2.27 on Tuesday, hitting $36.09. The company had a trading volume of 3,216,973 shares, compared to its average volume of 1,118,592. Calix has a 12-month low of $34.26 and a 12-month high of $71.22. The firm has a market capitalization of $2.30 billion, a P/E ratio of 74.85 and a beta of 1.23. The business has a 50 day moving average of $38.62 and a two-hundred day moving average of $46.48.

Calix (NYSE:CALX - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $293.33 million during the quarter, compared to analysts' expectations of $289.96 million. Calix had a net margin of 3.20% and a return on equity of 4.30%. The firm's revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 EPS. Calix has set its Q3 2026 guidance at 0.370-0.450 EPS. On average, sell-side analysts anticipate that Calix will post 0.83 earnings per share for the current year.

Calix declared that its Board of Directors has initiated a share buyback program on Tuesday, April 21st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the communications equipment provider to buy up to 3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its stock is undervalued.

Insider Activity

In related news, Director Carl Russo sold 25,000 shares of the stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $43.26, for a total value of $1,081,500.00. Following the completion of the sale, the director owned 1,644,188 shares in the company, valued at approximately $71,127,572.88. This trade represents a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 17.44% of the company's stock.

Institutional Trading of Calix

Hedge funds have recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. acquired a new stake in Calix during the fourth quarter valued at approximately $57,915,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of 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 acquiring an additional 868,987 shares during the period. Westfield Capital Management Co. LP boosted its stake in shares of Calix by 67.4% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,145,292 shares of the communications equipment provider's stock valued at $60,620,000 after purchasing an additional 461,196 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Calix in the 4th quarter worth about $19,856,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Calix by 397,798.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 350,151 shares of the communications equipment provider's stock worth $18,533,000 after purchasing an additional 350,063 shares in the last quarter. Institutional investors own 98.14% of the company's stock.

Trending Headlines about Calix

Here are the key news stories impacting Calix this week:

• Positive Sentiment: Calix reported strong Q2 results, with earnings of $0.47 per share versus $0.40 expected and revenue of $293.3 million versus $290.0 million expected. Revenue rose 21.3% year over year, helped by broadband demand, appliance adoption, and cloud services growth. Article: Calix Releases Second Quarter 2026 Financial Results
• Positive Sentiment: Management’s broader AI broadband strategy and expansion into recurring software and services suggests a longer-term growth opportunity beyond hardware sales. Article: Calix AI Broadband Strategy Shows Where Fiber Networks Are Heading
• Neutral Sentiment: Several analyst notes framed the stock as a debate between improving growth and valuation concerns, with investors encouraged by AI-native broadband and recurring revenue trends but still watching execution. Article: Is CALX Stock a Buy or a Value Trap After Strong Earnings Growth?
• Neutral Sentiment: Rosenblatt kept a buy rating but cut its price target to $55 from $70, signaling continued upside but more tempered expectations after the results. Article: Rosenblatt Securities price target cut
• Negative Sentiment: Calix’s updated Q3 guidance calls for EPS of $0.37 to $0.45, which brackets but does not materially exceed estimates, and investors remain focused on margin pressure and execution risk. Article: Calix Releases Second Quarter 2026 Financial Results
• Negative Sentiment: Multiple law firms issued reminders about a securities class action and July 27 lead-plaintiff deadline, adding legal overhang and uncertainty for CALX shareholders. Article: Investor Alert: Pomerantz Law Firm Reminds Investors...

About Calix

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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