Calix (NYSE:CALX) Sets New 52-Week Low - What's Next?

Key Points

• Calix shares hit a new 52-week low during Thursday trading, falling to as low as $35.68 and down about 2% on the day, as the stock continued to trade below both its 50-day and 200-day moving averages.
• Analysts remain broadly positive despite trimming targets. Several firms lowered their price targets, but the stock still carries a consensus Moderate Buy rating with an average target price of $67.00.
• The company recently beat earnings expectations and authorized buybacks. Calix reported quarterly EPS of $0.40 on revenue of $279.98 million, and its board approved a $100 million stock repurchase program.

Shares of Calix, Inc (NYSE:CALX - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $35.68 and last traded at $35.6780, with a volume of 68893 shares changing hands. The stock had previously closed at $36.54.

Analysts Set New Price Targets

CALX has been the subject of a number of research analyst reports. Needham & Company LLC reduced their price target on Calix from $70.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, April 23rd. JPMorgan Chase & Co. dropped their price objective on Calix from $70.00 to $65.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 22nd. Rosenblatt Securities reaffirmed a "buy" rating and issued a $70.00 price objective on shares of Calix in a research report on Wednesday, June 10th. Zacks Research upgraded Calix from a "strong sell" rating to a "hold" rating in a research note on Friday, May 15th. Finally, Roth Mkm reissued a "buy" rating on shares of Calix in a report on Thursday, April 23rd. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $67.00.

Calix Trading Down 2.0%

The company has a 50 day moving average of $41.22 and a 200-day moving average of $48.55. The firm has a market capitalization of $2.28 billion, a P/E ratio of 74.56 and a beta of 1.23.

Calix (NYSE:CALX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The communications equipment provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.03. The firm had revenue of $279.98 million for the quarter, compared to analysts' expectations of $277.50 million. Calix had a return on equity of 4.30% and a net margin of 3.20%.The company's quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.19 EPS. Calix has set its Q2 2026 guidance at 0.350-0.450 EPS. As a group, sell-side analysts forecast that Calix, Inc will post 0.85 EPS for the current fiscal year.

Calix announced that its Board of Directors has authorized a stock repurchase program on Tuesday, April 21st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the communications equipment provider to buy up to 3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its shares are undervalued.

Insider Transactions at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $43.26, for a total transaction of $1,081,500.00. Following the transaction, the director owned 1,644,188 shares in the company, valued at $71,127,572.88. This represents a 1.50% decrease in their position. 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. 17.44% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Calix

Several institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its stake in 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 acquiring an additional 2,773 shares during the period. AQR Capital Management LLC grew its holdings in shares of Calix by 304.1% during the 1st quarter. AQR Capital Management LLC now owns 44,874 shares of the communications equipment provider's stock worth $1,538,000 after purchasing an additional 33,769 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Calix by 10.6% during 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 worth $6,249,000 after purchasing an additional 16,905 shares in the last quarter. Intech Investment Management LLC increased its position in shares of Calix by 26.8% in the first quarter. Intech Investment Management LLC now owns 32,923 shares of the communications equipment provider's stock worth $1,167,000 after purchasing an additional 6,962 shares during the period. Finally, Amundi raised its stake in Calix by 16,478.0% in the second quarter. Amundi now owns 9,781 shares of the communications equipment provider's stock valued at $518,000 after purchasing an additional 9,722 shares in the last quarter. 98.14% of the stock is currently owned by institutional 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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