Insider Selling: Calix (NYSE:CALX) Director Sells 25,000 Shares of Stock

Key Points

• Insider sale: Director Carl Russo sold 25,000 shares on April 27 at an average price of $43.26 under a pre-arranged Rule 10b5-1 plan, trimming his stake by 1.5% to 1,644,188 shares (worth about $71.13M).
• Strong quarter and buyback: Calix beat Q1 estimates with Q1 EPS $0.40 and revenue of $280M (up 27.2% YoY), set Q2 guidance of $0.35–0.45 EPS, and its board authorized a $125M share repurchase program (~3.4% of outstanding shares).
• Stock and analyst view: shares traded near $42 midday with a market cap of ~$2.68B and a P/E of ~87.5; analysts have a consensus "Moderate Buy" and a $67 target price.

Calix, Inc (NYSE:CALX - Get Free Report) Director Carl Russo sold 25,000 shares of the business's stock in a transaction dated 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 Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Calix Stock Performance

Shares of NYSE CALX traded down $0.62 during midday trading on Tuesday, hitting $42.00. 1,239,694 shares of the company traded hands, compared to its average volume of 1,130,480. Calix, Inc has a 12-month low of $39.87 and a 12-month high of $71.22. The stock has a 50-day moving average price of $50.17 and a 200 day moving average price of $54.13. The firm has a market cap of $2.68 billion, a P/E ratio of 87.50 and a beta of 1.53.

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

Calix announced that its Board of Directors has authorized a share buyback program on Wednesday, January 28th that allows the company to repurchase $125.00 million in outstanding shares. This repurchase authorization allows the communications equipment provider to buy up to 3.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Calix in the third quarter worth approximately $1,528,000. Inspire Advisors LLC bought a new position in shares of Calix in the third quarter worth approximately $2,844,000. Federated Hermes Inc. bought a new position in shares of Calix in the third quarter worth approximately $7,090,000. Axecap Investments LLC bought a new position in Calix during the third quarter valued at approximately $1,707,000. Finally, Lisanti Capital Growth LLC lifted its position in Calix by 118.4% during the third quarter. Lisanti Capital Growth LLC now owns 81,321 shares of the communications equipment provider's stock valued at $4,991,000 after purchasing an additional 44,081 shares during the period. Institutional investors own 98.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wall Street Zen cut shares of Calix from a "strong-buy" rating to a "buy" rating in a report on Saturday, April 18th. Rosenblatt Securities restated a "buy" rating and issued a $70.00 price objective on shares of Calix in a report on Wednesday, April 22nd. Zacks Research cut shares of Calix from a "hold" rating to a "strong sell" rating in a report on Thursday, April 16th. Roth Mkm restated a "buy" rating on shares of Calix in a report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Calix from $70.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday, April 22nd. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Calix has a consensus rating of "Moderate Buy" and a consensus target price of $67.00.

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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