Carl Russo Sells 75,000 Shares of Calix (NYSE:CALX) Stock

Calix, Inc (NYSE:CALX) 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 completion of the sale, the director owned 1,569,188 shares of the company’s stock, valued at approximately $56,804,605.60. The trade was a 4.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Calix Trading Down 4.3%

NYSE CALX opened at $35.50 on Thursday. The business’s 50 day moving average is $38.11 and its two-hundred day moving average is $45.64. Calix, Inc has a 12-month low of $34.26 and a 12-month high of $71.22. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 47.98 and a beta of 1.23.

Calix (NYSE:CALX) last issued its earnings results on Monday, July 20th. The communications equipment provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.07. The business 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%.The company’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 EPS. Calix has set its Q3 2026 guidance at 0.370-0.450 EPS. Equities analysts forecast that Calix, Inc will post 0.89 earnings per share for the current fiscal year.

Calix declared that its board has initiated a stock buyback 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 usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Needham & Company LLC decreased their target price on shares of Calix from $70.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Roth Capital reiterated a “buy” rating on shares of Calix in a research note on Tuesday, July 21st. Rosenblatt Securities reduced their price objective on shares of Calix from $70.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. JPMorgan Chase & Co. decreased their price target on Calix from $65.00 to $58.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Finally, Weiss Ratings upgraded Calix from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 23rd. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $63.86.

Institutional Investors Weigh In On Calix

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC increased its position in Calix by 63.0% during the fourth quarter. Farther Finance Advisors LLC now owns 551 shares of the communications equipment provider’s stock worth $29,000 after buying an additional 213 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Calix in the second quarter valued at $30,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Calix by 24,733.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 745 shares of the communications equipment provider’s stock valued at $39,000 after acquiring an additional 742 shares in the last quarter. Strive Financial Group LLC acquired a new stake in shares of Calix during the fourth quarter valued at $40,000. Finally, Harbor Investment Advisory LLC acquired a new stake in shares of Calix during the second quarter valued at $31,000. Hedge funds and other institutional investors own 98.14% of the company’s stock.

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.