Calix (NYSE:CALX) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Calix (NYSE:CALX) from a strong sell rating to a hold rating in a report released on Tuesday,Zacks.com reports.

Several other equities analysts have also recently weighed in on CALX. Roth Capital reissued a “buy” rating on shares of Calix in a research report on Tuesday, July 21st. Weiss Ratings downgraded Calix from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, August 7th. Northland Securities upgraded Calix from a “market perform” rating to an “outperform” rating and set a $52.00 price target for the company in a report on Tuesday, July 21st. JPMorgan Chase & Co. reduced their price objective on Calix from $65.00 to $58.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Finally, Wall Street Zen downgraded shares of Calix from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 18th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.86.

Calix Trading Up 3.6%

NYSE:CALX opened at $40.58 on Tuesday. The firm has a market capitalization of $2.56 billion, a PE ratio of 54.84 and a beta of 1.24. Calix has a 1 year low of $34.26 and a 1 year high of $71.22. The firm’s fifty day simple moving average is $37.95 and its 200 day simple moving average is $43.91.

Calix (NYSE:CALX) last released its earnings results on Monday, July 20th. The communications equipment provider reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.07. Calix had a net margin of 4.61% and a return on equity of 6.17%. The firm had revenue of $293.33 million during the quarter, compared to analyst estimates of $289.96 million. During the same quarter in the previous year, the business earned $0.33 EPS. The business’s revenue was up 21.3% on a year-over-year basis. Calix has set its Q3 2026 guidance at 0.370-0.450 EPS. As a group, analysts anticipate that Calix will post 0.89 EPS for the current fiscal year.

Insider Buying and Selling

In other Calix news, Director Carl Russo sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $36.20, for a total value of $2,715,000.00. Following the completion of the sale, the director owned 1,569,188 shares in the company, valued at approximately $56,804,605.60. This trade represents a 4.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.44% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CALX. BlackRock Inc. acquired a new stake in shares of Calix during the 2nd quarter valued at about $439,461,000. Fuller & Thaler Asset Management Inc. acquired a new position in Calix in the fourth quarter worth about $57,915,000. Paradigm Capital Management Inc. NY acquired a new position in Calix in the second quarter worth about $37,213,000. Arrowstreet Capital Limited Partnership lifted its stake in Calix by 214.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,274,426 shares of the communications equipment provider’s stock worth $78,212,000 after purchasing an additional 868,987 shares during the period. Finally, Bank of America Corp DE bought a new position in Calix during the second quarter worth about $20,900,000. 98.14% of the stock is owned by 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.