Calix (NYSE:CALX) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Calix from “strong sell” to “hold,” while the broader analyst consensus remains “Moderate Buy,” with seven Buy ratings, two Holds, and an average price target of $63.86.
• Calix shares opened at $40.58 and were trading up 3.6%; the company recently beat quarterly estimates with $0.47 EPS and $293.33 million in revenue, up 21.3% year over year.
• Director Carl Russo sold 75,000 shares for approximately $2.7 million under a 10b5-1 plan, while institutional investors own a substantial 98.14% of the stock.

Calix (NYSE:CALX - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other research firms have also recently issued reports on CALX. Weiss Ratings cut Calix from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, August 7th. Wall Street Zen downgraded shares of Calix from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 18th. Northland Securities raised shares of Calix from a "market perform" rating to an "outperform" rating and set a $52.00 target price for the company in a research note on Tuesday, July 21st. Needham & Company LLC decreased their target price on shares of Calix from $70.00 to $62.00 and set a "buy" rating for the company in a research report on Thursday, April 23rd. Finally, Roth Capital restated a "buy" rating on shares of Calix in a research note on Tuesday, July 21st. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $63.86.

Calix Trading Up 3.6%

NYSE:CALX opened at $40.58 on Tuesday. The stock has a 50 day moving average of $37.95 and a 200-day moving average of $43.91. The firm has a market capitalization of $2.56 billion, a PE ratio of 54.84 and a beta of 1.24. Calix has a 52 week low of $34.26 and a 52 week high of $71.22.

Calix (NYSE:CALX - Get Free Report) last announced its quarterly earnings results on Monday, July 20th. The communications equipment provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $289.96 million. During the same quarter last year, the business posted $0.33 EPS. The business's 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, analysts predict that Calix will post 0.89 EPS for the current fiscal year.

Insider Transactions at Calix

In other Calix news, 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 transaction of $2,715,000.00. Following the transaction, the director owned 1,569,188 shares of the company's stock, valued at approximately $56,804,605.60. This trade represents a 4.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 Trading of Calix

Institutional investors have recently made changes to their positions in the stock. 4D Advisors LLC bought a new stake in Calix during the fourth quarter worth approximately $6,087,000. GSA Capital Partners LLP boosted its stake in Calix by 167.0% during the 4th 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. California State Teachers Retirement System boosted its stake in Calix by 32.6% during the 1st quarter. California State Teachers Retirement System now owns 76,344 shares of the communications equipment provider's stock valued at $3,740,000 after purchasing an additional 18,755 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Calix by 5.4% during the 4th 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 during the period. Finally, Bank of America Corp DE increased its position in shares of Calix by 63.3% during the 1st quarter. Bank of America Corp DE now owns 750,117 shares of the communications equipment provider's stock valued at $36,748,000 after purchasing an additional 290,661 shares during the period. 98.14% of the stock is owned by institutional investors and hedge funds.

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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