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

Calix, Inc (NYSE:CALX) Director Carl Russo sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $36.20, for a total transaction of $2,715,000.00. Following the completion of the transaction, the director owned 1,569,188 shares in the company, valued at approximately $56,804,605.60. This trade represents a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Calix Price Performance

Shares of Calix stock opened at $37.10 on Wednesday. Calix, Inc has a 1 year low of $34.26 and a 1 year high of $71.22. The firm has a market cap of $2.34 billion, a PE ratio of 50.14 and a beta of 1.23. The company has a 50 day simple moving average of $38.16 and a two-hundred day simple moving average of $45.76.

Calix (NYSE:CALX) last released its quarterly earnings results on Monday, July 20th. The communications equipment provider reported $0.47 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 analysts’ expectations of $289.96 million. Calix had a net margin of 4.61% and a return on equity of 6.17%. The business’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.33 EPS. Calix has set its Q3 2026 guidance at 0.370-0.450 EPS. As a group, research analysts anticipate that Calix, Inc will post 0.89 earnings per share for the current year.

Calix declared that its board has approved a share buyback plan on Tuesday, April 21st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the communications equipment provider to reacquire up to 3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Calix

Several institutional investors have recently bought and sold shares of CALX. Royal Bank of Canada lifted its position in Calix by 11.0% in the first quarter. Royal Bank of Canada now owns 28,022 shares of the communications equipment provider’s stock valued at $993,000 after purchasing an additional 2,773 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Calix by 304.1% during the first 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 grew 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 worth $6,249,000 after purchasing an additional 16,905 shares during the last quarter. Intech Investment Management LLC grew 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 worth $1,167,000 after purchasing an additional 6,962 shares during the last quarter. Finally, Amundi increased its stake 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. 98.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CALX has been the topic of several recent research reports. Wall Street Zen lowered Calix from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Rosenblatt Securities dropped their target price on Calix from $70.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. JPMorgan Chase & Co. cut their target price on Calix from $65.00 to $58.00 and set an “overweight” rating for the company in a research note on Wednesday, July 22nd. Zacks Research cut shares of Calix from a “hold” rating to a “strong sell” rating in a research report on Monday, July 20th. Finally, Weiss Ratings raised shares of 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 issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.86.

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.