JPMorgan Chase & Co. Upgrades Calix (NYSE:CALX) to Overweight

Calix (NYSE:CALX) was upgraded by JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Thursday, Marketbeat Ratings reports. The brokerage currently has a $90.00 price objective on the communications equipment provider’s stock, up from their prior price objective of $75.00. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 63.61% from the stock’s current price.

Several other equities analysts have also recently weighed in on CALX. Roth Capital set a $85.00 price objective on Calix and gave the company a “buy” rating in a report on Thursday, October 30th. Needham & Company LLC restated a “buy” rating and issued a $82.00 price target on shares of Calix in a research report on Monday, November 24th. Rosenblatt Securities upped their price objective on shares of Calix from $65.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. UBS Group reiterated an “outperform” rating and set a $75.00 price objective on shares of Calix in a research note on Friday, October 31st. Finally, Zacks Research cut shares of Calix from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Calix presently has an average rating of “Moderate Buy” and an average price target of $82.00.

Calix Stock Up 1.2%

NYSE CALX opened at $55.01 on Thursday. The firm has a 50-day moving average price of $55.51 and a two-hundred day moving average price of $57.52. Calix has a 12-month low of $28.60 and a 12-month high of $71.22. The company has a market capitalization of $3.65 billion, a P/E ratio of -458.38 and a beta of 1.55.

Calix (NYSE:CALX) last announced its earnings results on Wednesday, October 29th. The communications equipment provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.34 by $0.10. The company had revenue of $265.44 million for the quarter, compared to analysts’ expectations of $246.21 million. Calix had a negative net margin of 0.78% and a negative return on equity of 0.69%. The business’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same period last year, the firm earned $0.13 earnings per share. Calix has set its Q4 2025 guidance at 0.350-0.410 EPS. Equities analysts expect that Calix will post -0.43 EPS for the current year.

Insider Transactions at Calix

In related news, Director Carl Russo sold 420,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $64.09, for a total transaction of $26,917,800.00. Following the completion of the transaction, the director directly owned 1,694,188 shares in the company, valued at $108,580,508.92. This represents a 19.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Cory Sindelar sold 50,000 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $65.30, for a total transaction of $3,265,000.00. Following the completion of the transaction, the chief financial officer directly owned 76,555 shares of the company’s stock, valued at approximately $4,999,041.50. The trade was a 39.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 530,000 shares of company stock valued at $34,099,800. 16.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership lifted its stake in shares of Calix by 214.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,274,426 shares of the communications equipment provider’s stock valued at $78,212,000 after acquiring an additional 868,987 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Calix by 135.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 947,738 shares of the communications equipment provider’s stock worth $50,410,000 after purchasing an additional 545,490 shares in the last quarter. Loomis Sayles & Co. L P bought a new position in Calix in the second quarter valued at about $21,682,000. Divisadero Street Capital Management LP raised its position in Calix by 756.0% in the third quarter. Divisadero Street Capital Management LP now owns 453,873 shares of the communications equipment provider’s stock valued at $27,854,000 after purchasing an additional 400,851 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its stake in shares of Calix by 135.0% during the third quarter. Westfield Capital Management Co. LP now owns 684,096 shares of the communications equipment provider’s stock valued at $41,983,000 after purchasing an additional 392,947 shares in the last quarter. 98.14% of the stock is currently 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.