Carl Russo Sells 25,000 Shares of Calix (NYSE:CALX) Stock

Calix, Inc (NYSE:CALX) Director Carl Russo sold 25,000 shares of Calix stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $43.26, for a total transaction of $1,081,500.00. Following the completion of the transaction, the director directly owned 1,644,188 shares of the company’s stock, valued at $71,127,572.88. This trade represents a 1.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Calix Stock Performance

Shares of Calix stock opened at $41.65 on Thursday. The stock has a market capitalization of $2.66 billion, a PE ratio of 86.77 and a beta of 1.53. Calix, Inc has a 52-week low of $39.87 and a 52-week high of $71.22. The company has a 50-day simple moving average of $49.74 and a two-hundred day simple moving average of $53.93.

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

Calix declared that its Board of Directors has initiated a stock repurchase program on Wednesday, January 28th that permits the company to repurchase $125.00 million in shares. This repurchase authorization permits the communications equipment provider to purchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Calix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CALX. Royal Bank of Canada increased its holdings in Calix by 11.0% during the first quarter. Royal Bank of Canada now owns 28,022 shares of the communications equipment provider’s stock valued at $993,000 after buying an additional 2,773 shares during the last quarter. AQR Capital Management LLC increased its holdings in Calix by 304.1% during the first quarter. AQR Capital Management LLC now owns 44,874 shares of the communications equipment provider’s stock valued at $1,538,000 after buying an additional 33,769 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Calix by 10.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 176,328 shares of the communications equipment provider’s stock valued at $6,249,000 after buying an additional 16,905 shares during the last quarter. Intech Investment Management LLC increased its holdings in Calix by 26.8% during the first quarter. Intech Investment Management LLC now owns 32,923 shares of the communications equipment provider’s stock valued at $1,167,000 after buying an additional 6,962 shares during the last quarter. Finally, Amundi increased its holdings in Calix by 16,478.0% during the second quarter. Amundi now owns 9,781 shares of the communications equipment provider’s stock valued at $518,000 after buying an additional 9,722 shares during the last quarter. 98.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CALX has been the subject of several recent analyst reports. Zacks Research cut shares of Calix from a “hold” rating to a “strong sell” rating in a report on Thursday, April 16th. Rosenblatt Securities reissued a “buy” rating and set a $70.00 price objective on shares of Calix in a report on Wednesday, April 22nd. JPMorgan Chase & Co. decreased their price objective on shares of Calix from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, April 22nd. Needham & Company LLC decreased their price objective on shares of Calix from $70.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Finally, Weiss Ratings raised shares of Calix from a “sell (d-)” rating to a “hold (c-)” rating in a report on Monday, February 23rd. Six equities research 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. According to MarketBeat, Calix presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

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.