Calix (NYSE:CALX) Sets New 52-Week Low – Here’s What Happened

Calix, Inc (NYSE:CALX)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $38.75 and last traded at $38.8650, with a volume of 265158 shares trading hands. The stock had previously closed at $39.86.

Analysts Set New Price Targets

Several equities analysts recently commented on CALX shares. Needham & Company LLC reduced their price objective on shares of Calix from $70.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Roth Mkm reaffirmed a “buy” rating on shares of Calix in a research note on Thursday, April 23rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $70.00 price objective on shares of Calix in a research note on Wednesday, April 22nd. Weiss Ratings cut shares of Calix from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Calix from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, April 22nd. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $67.00.

Calix Trading Up 2.2%

The stock has a market capitalization of $2.50 billion, a P/E ratio of 81.79 and a beta of 1.27. The stock’s fifty day moving average price is $46.65 and its two-hundred day moving average price is $51.94.

Calix (NYSE:CALX) last announced its quarterly earnings data on Tuesday, April 21st. The communications equipment provider reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The firm had revenue of $279.98 million during the quarter, compared to analyst estimates of $277.50 million. Calix had a net margin of 3.20% and a return on equity of 4.30%. The business’s quarterly revenue was up 27.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 EPS. Calix has set its Q2 2026 guidance at 0.350-0.450 EPS. As a group, analysts expect that Calix, Inc will post 0.85 earnings per share for the current fiscal year.

Calix announced that its Board of Directors has authorized a share buyback program on Wednesday, January 28th that allows the company to repurchase $125.00 million in shares. This repurchase authorization allows the communications equipment provider to purchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Calix

In other news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $43.26, for a total value of $1,081,500.00. Following the completion of the sale, the director directly owned 1,644,188 shares in the company, valued at approximately $71,127,572.88. The trade was a 1.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 17.44% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Clearstead Advisors LLC increased its position in Calix by 139.3% during the 3rd 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 period. Farther Finance Advisors LLC increased its position in Calix by 63.0% during the 4th quarter. Farther Finance Advisors LLC now owns 551 shares of the communications equipment provider’s stock valued at $29,000 after purchasing an additional 213 shares during the period. Raymond James Financial Inc. purchased a new position in Calix during the 2nd quarter valued at $30,000. Whittier Trust Co. increased its position 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. Finally, Caitong International Asset Management Co. Ltd increased its position in Calix by 24,733.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 745 shares of the communications equipment provider’s stock valued at $39,000 after purchasing an additional 742 shares during the period. 98.14% of the stock is owned by hedge funds and other institutional investors.

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.