Calix (NYSE:CALX) Receives “Buy” Rating from Rosenblatt Securities

Calix (NYSE:CALX)‘s stock had its “buy” rating reiterated by stock analysts at Rosenblatt Securities in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $70.00 target price on the communications equipment provider’s stock. Rosenblatt Securities’ target price points to a potential upside of 80.14% from the stock’s previous close.

Several other brokerages have also recently issued reports on CALX. JPMorgan Chase & Co. dropped their price target on Calix from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 22nd. Needham & Company LLC decreased their price target on Calix from $70.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Weiss Ratings raised shares of Calix from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday. Wall Street Zen raised shares of Calix from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Zacks Research raised shares of Calix from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Calix Trading Up 4.2%

Shares of CALX opened at $38.86 on Wednesday. The company’s 50 day simple moving average is $43.52 and its 200-day simple moving average is $49.86. The firm has a market cap of $2.48 billion, a PE ratio of 80.96 and a beta of 1.23. Calix has a 12-month low of $35.87 and a 12-month high of $71.22.

Calix (NYSE:CALX) last released its quarterly earnings results on Tuesday, April 21st. The communications equipment provider reported $0.40 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 firm had revenue of $279.98 million during the quarter, compared to the consensus estimate of $277.50 million. During the same quarter in the prior year, the firm earned $0.19 EPS. Calix’s revenue for the quarter 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 research analysts forecast that Calix will post 0.85 EPS for the current fiscal year.

Calix announced that its Board of Directors has approved a stock buyback program on Tuesday, April 21st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the communications equipment provider to buy up to 3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction on Monday, April 27th. The stock was sold at an average price of $43.26, for a total transaction of $1,081,500.00. Following the completion of the transaction, the director directly owned 1,644,188 shares of the company’s stock, valued at approximately $71,127,572.88. The trade was a 1.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.44% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP increased its holdings in Calix by 167.0% during the 4th quarter. GSA Capital Partners LLP now owns 53,867 shares of the communications equipment provider’s stock valued at $2,851,000 after acquiring an additional 33,691 shares in the last quarter. Tudor Investment Corp ET AL raised its position in shares of Calix by 38.1% during the 3rd quarter. Tudor Investment Corp ET AL now owns 290,189 shares of the communications equipment provider’s stock worth $17,809,000 after purchasing an additional 80,029 shares during the last quarter. Atika Capital Management LLC acquired a new position in shares of Calix during the 3rd quarter worth approximately $5,493,000. Divisadero Street Capital Management LP raised its holdings in shares of 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 worth $27,854,000 after acquiring an additional 400,851 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its position in shares of Calix by 135.0% in 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 acquiring an additional 392,947 shares in the last quarter. Institutional investors and hedge funds 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.