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 published on Tuesday morning,Zacks.com reports.

CALX has been the subject of a number of other research reports. Rosenblatt Securities lifted their price objective on shares of Calix from $65.00 to $85.00 and gave the company a “buy” rating in a report on Friday, October 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Calix in a research report on Monday. Craig Hallum reaffirmed a “buy” rating and set a $75.00 price objective on shares of Calix in a research note on Friday, October 31st. JPMorgan Chase & Co. raised their target price on shares of Calix from $60.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Finally, Needham & Company LLC restated a “buy” rating and issued a $82.00 price target on shares of Calix in a research report on Monday, November 24th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $79.50.

Calix Price Performance

CALX stock opened at $52.92 on Tuesday. The company has a market capitalization of $3.51 billion, a P/E ratio of -440.96 and a beta of 1.55. Calix has a 12 month low of $28.60 and a 12 month high of $71.22. The firm’s fifty day simple moving average is $57.54 and its 200-day simple moving average is $57.15.

Calix (NYSE:CALX) last posted its earnings results on Wednesday, October 29th. The communications equipment provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.10. The company had revenue of $265.44 million during the quarter, compared to the consensus estimate of $246.21 million. Calix had a negative net margin of 0.78% and a negative return on equity of 0.69%. The firm’s quarterly revenue was up 32.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.13 earnings per share. Calix has set its Q4 2025 guidance at 0.350-0.410 EPS. As a group, sell-side analysts forecast that Calix will post -0.43 earnings per share for the current year.

Insiders Place Their Bets

In other Calix news, CFO Cory Sindelar sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $65.30, for a total value of $3,265,000.00. Following the sale, the chief financial officer owned 76,555 shares in the company, valued at approximately $4,999,041.50. This trade represents a 39.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carl Russo sold 420,000 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $64.09, for a total value of $26,917,800.00. Following the completion of the transaction, the director directly owned 1,694,188 shares of the company’s stock, valued at $108,580,508.92. This trade represents a 19.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 530,000 shares of company stock valued at $34,099,800 over the last three months. Company insiders own 16.90% of the company’s stock.

Institutional Investors Weigh In On Calix

A number of institutional investors and hedge funds have recently modified their holdings of the stock. SouthState Corp increased its position in Calix by 10,000.0% in the 2nd quarter. SouthState Corp now owns 505 shares of the communications equipment provider’s stock worth $27,000 after purchasing an additional 500 shares during the last quarter. Clearstead Advisors LLC grew its position in shares of Calix by 139.3% in the third quarter. Clearstead Advisors LLC now owns 438 shares of the communications equipment provider’s stock valued at $27,000 after purchasing an additional 255 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Calix in the second quarter worth about $30,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Calix during the 2nd quarter worth about $36,000. Finally, Whittier Trust Co. boosted its stake in Calix by 541.0% during the 3rd quarter. Whittier Trust Co. now owns 641 shares of the communications equipment provider’s stock valued at $38,000 after purchasing an additional 541 shares during the period. 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.