Calix (NYSE:CALX) Upgraded at Zacks Research

Calix (NYSE:CALX) was upgraded by analysts 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 analysts have also recently weighed in on the stock. Northland Securities upgraded shares of Calix from a “market perform” rating to an “outperform” rating and set a $52.00 target price for the company in a report on Tuesday, July 21st. Wall Street Zen cut Calix from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. Roth Capital reiterated a “buy” rating on shares of Calix in a research report on Tuesday, July 21st. Rosenblatt Securities reduced their price objective on Calix from $70.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Finally, JPMorgan Chase & Co. decreased their target price on Calix from $65.00 to $58.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Calix currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.86.

Calix Trading Up 3.6%

Shares of NYSE CALX opened at $40.58 on Tuesday. Calix has a twelve month low of $34.26 and a twelve month high of $71.22. The firm has a 50-day moving average of $37.95 and a two-hundred day moving average of $43.91. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 54.84 and a beta of 1.24.

Calix (NYSE:CALX) last announced its quarterly earnings data 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 net margin of 4.61% and a return on equity of 6.17%. The company had revenue of $293.33 million for the quarter, compared to analysts’ expectations of $289.96 million. During the same quarter in the previous year, the company posted $0.33 EPS. The business’s revenue was up 21.3% compared to the same quarter last year. Calix has set its Q3 2026 guidance at 0.370-0.450 EPS. As a group, research analysts predict that Calix will post 0.89 earnings per share for the current year.

Insider Activity 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 value of $2,715,000.00. Following the completion of the transaction, the director directly owned 1,569,188 shares in the company, valued at $56,804,605.60. This trade represents a 4.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.44% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Calix

Several hedge funds have recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in Calix by 11.0% in the 1st quarter. Royal Bank of Canada now owns 28,022 shares of the communications equipment provider’s stock worth $993,000 after purchasing an additional 2,773 shares during the period. AQR Capital Management LLC raised its stake in Calix by 304.1% during the 1st quarter. AQR Capital Management LLC now owns 44,874 shares of the communications equipment provider’s stock valued at $1,538,000 after purchasing an additional 33,769 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Calix by 10.6% in the first 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 valued at $6,249,000 after purchasing an additional 16,905 shares in the last quarter. Intech Investment Management LLC lifted its holdings 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 valued at $1,167,000 after purchasing an additional 6,962 shares in the last quarter. Finally, Amundi boosted its position in shares of Calix by 16,478.0% in the second quarter. Amundi now owns 9,781 shares of the communications equipment provider’s stock worth $518,000 after buying an additional 9,722 shares during the period. 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.