Calix (NYSE:CALX) Price Target Cut to $70.00 by Analysts at JPMorgan Chase & Co.

Calix (NYSE:CALX) had its target price reduced by analysts at JPMorgan Chase & Co. from $90.00 to $70.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the communications equipment provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 41.06% from the company’s current price.

CALX has been the topic of a number of other reports. Zacks Research cut Calix from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Needham & Company LLC decreased their target price on Calix from $82.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, January 29th. Craig Hallum set a $60.00 target price on Calix in a report on Friday, January 30th. Wall Street Zen upgraded Calix from a “buy” rating to a “strong-buy” rating in a report on Monday, April 6th. Finally, Weiss Ratings upgraded Calix from a “sell (d-)” rating to a “hold (c-)” rating in a report on Monday, February 23rd. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.67.

Calix Trading Up 1.0%

Shares of NYSE CALX traded up $0.51 during mid-day trading on Thursday, reaching $49.63. The company had a trading volume of 232,329 shares, compared to its average volume of 1,047,850. The stock has a market cap of $3.21 billion, a PE ratio of 198.60 and a beta of 1.53. The company has a 50-day moving average price of $51.23 and a two-hundred day moving average price of $54.95. Calix has a 1-year low of $32.55 and a 1-year high of $71.22.

Calix (NYSE:CALX) last issued its earnings results on Wednesday, January 28th. The communications equipment provider reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $272.40 million for the quarter, compared to analysts’ expectations of $267.36 million. Calix had a return on equity of 2.31% and a net margin of 1.79%.The company’s quarterly revenue was up 32.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 EPS. Calix has set its Q1 2026 guidance at 0.340-0.400 EPS. On average, research analysts expect that Calix will post -0.43 EPS for the current year.

Calix declared that its Board of Directors has authorized a share repurchase plan on Wednesday, January 28th that allows the company to buyback $125.00 million in outstanding shares. This buyback authorization allows the communications equipment provider to buy up to 3.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Calix

A number of institutional investors have recently bought and sold shares of CALX. Fuller & Thaler Asset Management Inc. purchased a new position in Calix in the fourth quarter valued at about $57,915,000. Arrowstreet Capital Limited Partnership grew 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 buying an additional 868,987 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in Calix by 67.4% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,145,292 shares of the communications equipment provider’s stock worth $60,620,000 after buying an additional 461,196 shares during the last quarter. Divisadero Street Capital Management LP increased its holdings 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 worth $27,854,000 after buying an additional 400,851 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Calix during the 4th quarter worth $19,856,000. Institutional investors and hedge funds 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.