Calix (NYSE:CALX) Shares Gap Up After Analyst Upgrade

Shares of Calix, Inc (NYSE:CALX) gapped up prior to trading on Thursday after JPMorgan Chase & Co. upgraded the stock from a neutral rating to an overweight rating. The stock had previously closed at $54.96, but opened at $59.78. JPMorgan Chase & Co. now has a $90.00 price target on the stock, up from their previous price target of $75.00. Calix shares last traded at $61.0850, with a volume of 152,387 shares.

CALX has been the subject of a number of other reports. UBS Group reiterated an “outperform” rating and set a $75.00 target price on shares of Calix in a research report on Friday, October 31st. Needham & Company LLC reiterated a “buy” rating and set a $82.00 price objective on shares of Calix in a research report on Monday, November 24th. Roth Capital set a $85.00 price objective on shares of Calix and gave the stock a “buy” rating in a research note on Thursday, October 30th. Rosenblatt Securities upped their target price on shares of Calix from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Zacks Research downgraded shares of Calix from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 30th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.00.

Insider Transactions at Calix

In related news, insider Shane Todd Marshall Eleniak sold 50,000 shares of Calix stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $65.34, for a total transaction of $3,267,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carl Russo sold 420,000 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $64.09, for a total transaction of $26,917,800.00. Following the transaction, the director owned 1,694,188 shares in the company, valued at $108,580,508.92. The trade was a 19.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 530,000 shares of company stock worth $34,099,800. 16.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Calix

A number of hedge funds have recently added to or reduced their stakes in CALX. SouthState Corp grew its stake in Calix by 10,000.0% in the second quarter. SouthState Corp now owns 505 shares of the communications equipment provider’s stock worth $27,000 after purchasing an additional 500 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in shares of Calix by 139.3% in the 3rd quarter. Clearstead Advisors LLC now owns 438 shares of the communications equipment provider’s stock worth $27,000 after buying an additional 255 shares during the period. Raymond James Financial Inc. bought a new position in shares of Calix during the 2nd quarter worth $30,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Calix during the second quarter valued at $36,000. Finally, Whittier Trust Co. raised its holdings in shares of Calix by 541.0% in the third quarter. Whittier Trust Co. now owns 641 shares of the communications equipment provider’s stock valued at $38,000 after acquiring an additional 541 shares in the last quarter. 98.14% of the stock is currently owned by institutional investors.

Calix Stock Up 7.3%

The stock’s 50 day moving average is $55.41 and its two-hundred day moving average is $57.53. The company has a market capitalization of $3.91 billion, a PE ratio of -491.53 and a beta of 1.55.

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

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.