Calix (NYSE:CALX) Sets New 12-Month Low - Here's Why

Key Points

• Calix shares hit a new 52-week low, falling to $33.95 during Thursday trading, below the stock’s 50-day and 200-day moving averages.
• Analysts remain generally positive, with seven Buy ratings and two Holds, but several firms recently lowered their price targets. The consensus rating is “Moderate Buy,” with an average target of $63.86.
• Calix exceeded quarterly expectations, reporting $0.47 in earnings per share versus a $0.40 estimate and 21.3% year-over-year revenue growth. However, director Carl Russo sold 75,000 shares under a pre-arranged trading plan.

Shares of Calix, Inc (NYSE:CALX - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $33.95 and last traded at $34.8980, with a volume of 33967 shares traded. The stock had previously closed at $35.34.

Analysts Set New Price Targets

A number of research firms have commented on CALX. JPMorgan Chase & Co. reduced 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. Zacks Research upgraded shares of Calix from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 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. Rosenblatt Securities reduced their price target on shares of Calix from $70.00 to $55.00 and set a "buy" rating on the stock in a research note on Tuesday, July 21st. Finally, Wall Street Zen lowered shares of Calix from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 18th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Calix has an average rating of "Moderate Buy" and an average target price of $63.86.

Calix Stock Performance

The company has a 50 day moving average of $38.11 and a 200-day moving average of $42.44. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 47.40 and a beta of 1.25.

Calix (NYSE:CALX - Get Free Report) last released its earnings results on Monday, July 20th. The communications equipment provider reported $0.47 earnings per share 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 return on equity of 6.17% and a net margin of 4.61%.Calix's revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 EPS. Calix has set its Q3 2026 guidance at 0.370-0.450 EPS. On average, research analysts anticipate that Calix, Inc will post 0.89 EPS for the current year.

Insiders Place Their Bets

In related news, Director Carl Russo sold 75,000 shares of the company's stock in a transaction that occurred on 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 sale, the director directly owned 1,569,188 shares of the company's stock, valued at $56,804,605.60. This represents a 4.56% decrease in their position. The sale 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. 17.44% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Calix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC raised its stake in shares of Calix by 27.0% in the second quarter. Smartleaf Asset Management LLC now owns 1,245 shares of the communications equipment provider's stock valued at $64,000 after acquiring an additional 265 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in Calix by 3.2% during the 4th quarter. Maryland State Retirement & Pension System now owns 8,813 shares of the communications equipment provider's stock worth $466,000 after purchasing an additional 270 shares in the last quarter. Vident Advisory LLC increased its holdings in Calix by 2.8% during the 4th quarter. Vident Advisory LLC now owns 10,570 shares of the communications equipment provider's stock worth $559,000 after purchasing an additional 287 shares during the period. Strs Ohio increased its holdings in Calix by 1.5% during the 1st quarter. Strs Ohio now owns 20,600 shares of the communications equipment provider's stock worth $1,009,000 after purchasing an additional 300 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its position in Calix by 3.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,800 shares of the communications equipment provider's stock valued at $730,000 after purchasing an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 98.14% of the company's stock.

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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