Calix (NYSE:CALX) Given New $70.00 Price Target at JPMorgan Chase & Co.

Calix (NYSE:CALX) had its price target trimmed by JPMorgan Chase & Co. from $90.00 to $70.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an overweight rating on the communications equipment provider’s stock.

A number of other equities analysts also recently issued reports on the company. Craig Hallum set a $60.00 price objective 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. Weiss Ratings upgraded Calix from a “sell (d-)” rating to a “hold (c-)” rating in a report on Monday, February 23rd. Rosenblatt Securities reiterated a “buy” rating and issued a $70.00 price objective on shares of Calix in a report on Tuesday, March 31st. Finally, Zacks Research downgraded Calix from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.67.

Calix Trading Up 1.1%

CALX opened at $49.68 on Thursday. The stock has a fifty day simple moving average of $51.21 and a two-hundred day simple moving average of $54.91. The company has a market cap of $3.21 billion, a price-to-earnings ratio of 198.74 and a beta of 1.53. Calix has a 12-month low of $32.55 and a 12-month high of $71.22.

Calix (NYSE:CALX) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $267.36 million. Calix had a return on equity of 2.31% and a net margin of 1.79%.The firm’s quarterly revenue was up 32.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.08 earnings per share. Calix has set its Q1 2026 guidance at 0.340-0.400 EPS. On average, analysts predict that Calix will post -0.43 EPS for the current year.

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

Hedge Funds Weigh In On Calix

Several institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC increased its holdings in shares of Calix by 12.9% during the third quarter. CWM LLC now owns 1,507 shares of the communications equipment provider’s stock valued at $92,000 after acquiring an additional 172 shares in the last quarter. LVW Advisors LLC increased its holdings in shares of Calix by 2.0% during the fourth quarter. LVW Advisors LLC now owns 9,655 shares of the communications equipment provider’s stock valued at $511,000 after acquiring an additional 188 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Calix by 12.9% during the third quarter. GAMMA Investing LLC now owns 1,662 shares of the communications equipment provider’s stock valued at $102,000 after acquiring an additional 190 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Calix by 4.7% during the third quarter. Nisa Investment Advisors LLC now owns 4,194 shares of the communications equipment provider’s stock valued at $257,000 after acquiring an additional 190 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of Calix by 1.5% during the third quarter. Oregon Public Employees Retirement Fund now owns 13,400 shares of the communications equipment provider’s stock valued at $822,000 after acquiring an additional 200 shares in the last quarter. 98.14% of the stock is currently owned by institutional investors.

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.