Rosenblatt Securities Reaffirms Buy Rating for Calix (NYSE:CALX)

Calix (NYSE:CALX)‘s stock had its “buy” rating reiterated by stock analysts at Rosenblatt Securities in a research note issued on Wednesday,Benzinga reports. They presently have a $70.00 target price on the communications equipment provider’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 80.14% from the stock’s previous close.

Several other research analysts have also weighed in on the stock. Northland Securities lowered shares of Calix from an “outperform” rating to a “market perform” rating and set a $52.00 target price for the company. in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. dropped their price objective on Calix from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, April 22nd. Wall Street Zen upgraded Calix from a “buy” rating to a “strong-buy” rating in a report on Saturday. Roth Mkm restated a “buy” rating on shares of Calix in a report on Thursday, April 23rd. Finally, Needham & Company LLC cut their price target on shares of Calix from $70.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. 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 currently has an average rating of “Moderate Buy” and an average target price of $67.00.

Calix Stock Performance

CALX stock opened at $38.86 on Wednesday. Calix has a one year low of $35.87 and a one year high of $71.22. The firm has a market cap of $2.48 billion, a PE ratio of 80.96 and a beta of 1.23. The firm’s 50 day moving average price is $43.52 and its 200-day moving average price is $49.86.

Calix (NYSE:CALX) last posted 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. Calix had a return on equity of 4.30% and a net margin of 3.20%.The company had revenue of $279.98 million during the quarter, compared to analysts’ expectations of $277.50 million. During the same quarter last year, the firm earned $0.19 earnings per share. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. Calix has set its Q2 2026 guidance at 0.350-0.450 EPS. Equities research analysts predict that Calix will post 0.85 EPS for the current fiscal year.

Calix declared that its board has approved a stock buyback program on Tuesday, April 21st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the communications equipment provider to repurchase up to 3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Calix

In other news, 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 value of $1,081,500.00. Following the completion of the transaction, the director owned 1,644,188 shares in the company, valued at approximately $71,127,572.88. This trade represents a 1.50% decrease in their position. The sale was disclosed in a filing with the SEC, 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 owned by corporate insiders.

Institutional Investors Weigh In On Calix

Institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP lifted its position in shares of Calix by 167.0% during the 4th quarter. GSA Capital Partners LLP now owns 53,867 shares of the communications equipment provider’s stock worth $2,851,000 after buying an additional 33,691 shares during the last quarter. Tudor Investment Corp ET AL raised its stake in Calix by 38.1% during the 3rd quarter. Tudor Investment Corp ET AL now owns 290,189 shares of the communications equipment provider’s stock worth $17,809,000 after acquiring an additional 80,029 shares in the last quarter. Atika Capital Management LLC purchased a new stake in Calix in the third quarter valued at $5,493,000. Divisadero Street Capital Management LP lifted its position in Calix by 756.0% in the third quarter. Divisadero Street Capital Management LP now owns 453,873 shares of the communications equipment provider’s stock valued at $27,854,000 after acquiring an additional 400,851 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its stake in Calix by 135.0% in the third quarter. Westfield Capital Management Co. LP now owns 684,096 shares of the communications equipment provider’s stock valued at $41,983,000 after acquiring an additional 392,947 shares in the last quarter. 98.14% of the stock is owned by hedge funds and other 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.