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

Calix, Inc (NYSE:CALX) Director Carl Russo sold 75,000 shares of Calix stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $31.07, for a total transaction of $2,330,250.00. Following the completion of the transaction, the director owned 1,494,188 shares of the company’s stock, valued at $46,424,421.16. This trade represents a 4.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Calix Price Performance

Shares of CALX opened at $32.23 on Tuesday. The company has a market capitalization of $1.99 billion, a P/E ratio of 47.40 and a beta of 1.21. Calix, Inc has a one year low of $30.55 and a one year high of $65.00. The business’s 50 day simple moving average is $35.49 and its 200-day simple moving average is $41.95.

Calix (NYSE:CALX) last released its quarterly earnings results on Monday, November 2nd. The communications equipment provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. Calix had a return on equity of 5.67% and a net margin of 3.99%. The firm had revenue of $301.71 million during the quarter, compared to analysts’ expectations of $304.23 million. During the same period last year, the firm posted $0.44 EPS. The business’s revenue was up 13.7% on a year-over-year basis. On average, sell-side analysts anticipate that Calix, Inc will post 0.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CALX. Weiss Ratings lowered Calix from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, October 26th. Rosenblatt Securities reiterated a “buy” rating and set a $55.00 price target on shares of Calix in a research report on Wednesday, November 4th. Northland Securities upgraded shares of Calix from a “market perform” rating to an “outperform” rating and set a $52.00 price target on the stock in a research report on Tuesday, July 21st. Zacks Research raised shares of Calix from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Finally, Roth Capital restated a “buy” rating on shares of Calix in a research report on Tuesday, July 21st. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $55.80.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CALX. Inspire Investing LLC increased its position in Calix by 1.8% during the 3rd quarter. Inspire Investing LLC now owns 18,681 shares of the communications equipment provider’s stock worth $642,000 after purchasing an additional 338 shares in the last quarter. Pinnacle Wealth Planning Services Inc. boosted its position in Calix by 254.0% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 878 shares of the communications equipment provider’s stock valued at $30,000 after buying an additional 630 shares in the last quarter. Hsbc Holdings PLC boosted its position in Calix by 3.5% in the first quarter. Hsbc Holdings PLC now owns 19,140 shares of the communications equipment provider’s stock valued at $940,000 after buying an additional 647 shares in the last quarter. Covestor Ltd boosted its position in Calix by 85.4% in the third quarter. Covestor Ltd now owns 1,446 shares of the communications equipment provider’s stock valued at $49,000 after buying an additional 666 shares in the last quarter. Finally, Harbor Investment Advisory LLC bought a new stake in shares of Calix during the second quarter worth $31,000. 98.14% of the stock is currently owned by institutional investors.

More Calix News

Here are the key news stories impacting Calix this week:

• Positive Sentiment: Brokerages’ reported consensus target price of $55.80 is well above CALX’s recent trading level, suggesting potential upside in analysts’ valuation outlook. The figure may not reflect a new estimate. Calix consensus target price
• Neutral Sentiment: Calix announced upcoming investor events, including conferences and a company-hosted bus tour where executives will meet with investors. These provide opportunities for updates but no new financial guidance was included in the announcement. Calix Announces Upcoming Investor Events
• Neutral Sentiment: The A$10 million investment agreement for a green iron project relates to Calix Ltd. (Australia: CXL), not Calix, Inc. (NYSE: CALX), so it should not be treated as news about this stock. Calix Ltd. green iron project announcement
• Negative Sentiment: Director Carl Russo sold 75,000 shares for about $2.33 million. The sale was made under a pre-arranged Rule 10b5-1 plan, and he retained nearly 1.5 million shares, which may temper concerns but does not eliminate the potential negative sentiment from insider selling. Calix insider share sale
• Negative Sentiment: Wall Street Zen cut its rating on CALX to “Buy,” a downgrade from its prior rating, although the recommendation remains positive. Calix rating cut to Buy

About Calix

Calix, Inc provides cloud, software, systems and services to broadband service providers. Its offerings are designed to help providers build and manage access networks, improve operations and deliver broadband services and digital experiences to residential and business subscribers.

The company’s portfolio includes the Calix Broadband Platform, which brings together network access systems, software and cloud-based applications. Products and services support network management, subscriber experience and the delivery of services such as broadband connectivity and managed Wi-Fi.

Founded in 1999 and headquartered in San Jose, California, Calix serves communications service providers in multiple markets, including providers in North America.