Calix (NYSE:CALX) Cut to “Hold” at Zacks Research

Zacks Research lowered shares of Calix (NYSE:CALX) from a strong-buy rating to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

Several other brokerages have also weighed in on CALX. Wolfe Research started coverage on Calix in a research report on Monday, July 7th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. raised their price objective on Calix from $38.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Wall Street Zen upgraded shares of Calix from a “hold” rating to a “strong-buy” rating in a report on Saturday, July 26th. Rosenblatt Securities raised their price target on shares of Calix from $56.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. Finally, Needham & Company LLC raised their price target on shares of Calix from $60.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $64.00.

Calix Trading Down 2.0%

NYSE CALX opened at $61.24 on Monday. The company has a market capitalization of $4.00 billion, a PE ratio of -153.10 and a beta of 1.35. Calix has a twelve month low of $28.60 and a twelve month high of $64.30. The business’s 50-day moving average price is $58.60 and its 200 day moving average price is $47.92.

Calix (NYSE:CALX) last announced its quarterly earnings data on Monday, July 21st. The communications equipment provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.41. The business had revenue of $241.90 million for the quarter, compared to analyst estimates of $223.81 million. Calix had a negative net margin of 3.09% and a negative return on equity of 3.21%. The company’s revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 EPS. Calix has set its Q3 2025 guidance at 0.310-0.371 EPS. Equities analysts predict that Calix will post -0.43 EPS for the current year.

Insider Buying and Selling at Calix

In other news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $55.40, for a total transaction of $1,385,000.00. Following the sale, the director directly owned 2,114,188 shares of the company’s stock, valued at approximately $117,126,015.20. The trade was a 1.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Cory Sindelar sold 10,000 shares of Calix stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $60.00, for a total value of $600,000.00. Following the sale, the chief financial officer directly owned 76,555 shares in the company, valued at approximately $4,593,300. The trade was a 11.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,000 shares of company stock worth $3,065,000 in the last ninety days. 16.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Calix

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Calix by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 8,015,370 shares of the communications equipment provider’s stock valued at $284,065,000 after purchasing an additional 37,601 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Calix by 12.1% in the first quarter. Alliancebernstein L.P. now owns 2,509,223 shares of the communications equipment provider’s stock worth $88,927,000 after buying an additional 270,397 shares during the last quarter. Congress Asset Management Co. increased its position in shares of Calix by 2.9% in the 2nd quarter. Congress Asset Management Co. now owns 1,417,944 shares of the communications equipment provider’s stock worth $75,420,000 after purchasing an additional 39,447 shares during the last quarter. Artisan Partners Limited Partnership increased its position in shares of Calix by 14.5% in the 2nd quarter. Artisan Partners Limited Partnership now owns 1,204,683 shares of the communications equipment provider’s stock worth $64,077,000 after purchasing an additional 152,469 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its position in shares of Calix by 26.3% in the 1st quarter. Alyeska Investment Group L.P. now owns 1,032,292 shares of the communications equipment provider’s stock worth $36,584,000 after purchasing an additional 215,028 shares during the last quarter. 98.14% of the stock is owned by institutional investors and hedge funds.

About Calix

Calix, Inc, together with its subsidiaries, engages in the provision of cloud and software platforms, and systems and services in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its cloud and software platforms, and systems and services enable broadband service providers (BSPs) to provide a range of services.