Calix (NYSE:CALX) Sets New 12-Month Low – Here’s Why

Calix, Inc (NYSE:CALX)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $33.95 and last traded at $34.8980, with a volume of 33967 shares traded. The stock had previously closed at $35.34.

Analyst Ratings Changes

Several brokerages recently weighed in on CALX. Northland Securities raised shares of Calix from a “market perform” rating to an “outperform” rating and set a $52.00 target price on the stock in a report on Tuesday, July 21st. Roth Capital reiterated a “buy” rating on shares of Calix in a report on Tuesday, July 21st. JPMorgan Chase & Co. dropped their price objective on shares of Calix from $65.00 to $58.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. Wall Street Zen lowered shares of Calix from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. Finally, Weiss Ratings raised shares of Calix from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 24th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $63.86.

Calix Trading Up 1.8%

The firm has a market cap of $2.21 billion, a PE ratio of 47.40 and a beta of 1.25. The business has a fifty day moving average price of $38.11 and a 200 day moving average price of $42.44.

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

Insider Buying and Selling at Calix

In other news, Director Carl Russo sold 75,000 shares of the company’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $36.20, for a total value of $2,715,000.00. Following the completion of the transaction, the director owned 1,569,188 shares in the company, valued at approximately $56,804,605.60. This represents a 4.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 17.44% of the company’s stock.

Institutional Investors Weigh In On Calix

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Calix in the second quarter valued at $439,461,000. California State Teachers Retirement System boosted its position in shares of Calix by 3,531.9% in the 2nd quarter. California State Teachers Retirement System now owns 2,772,764 shares of the communications equipment provider’s stock valued at $103,480,000 after purchasing an additional 2,696,420 shares during the period. State Street Corp boosted its position in shares of Calix by 1.0% in the 4th quarter. State Street Corp now owns 2,362,965 shares of the communications equipment provider’s stock valued at $125,072,000 after purchasing an additional 23,022 shares during the period. Geode Capital Management LLC grew its stake in Calix by 5.4% during the 4th quarter. Geode Capital Management LLC now owns 1,445,338 shares of the communications equipment provider’s stock worth $76,513,000 after buying an additional 74,235 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in Calix by 4.5% during the 3rd quarter. Alliancebernstein L.P. now owns 1,409,729 shares of the communications equipment provider’s stock worth $86,515,000 after buying an additional 61,247 shares during the last quarter. 98.14% of the stock is currently owned by institutional investors and hedge funds.

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.