Calix (NYSE:CALX) Shares Gap Up After Analyst Upgrade

Calix, Inc (NYSE:CALX)’s share price gapped up prior to trading on Thursday after JPMorgan Chase & Co. upgraded the stock from a neutral rating to an overweight rating. The stock had previously closed at $54.96, but opened at $59.78. JPMorgan Chase & Co. now has a $90.00 price target on the stock, up from their previous price target of $75.00. Calix shares last traded at $61.0850, with a volume of 152,387 shares changing hands.

Other research analysts also recently issued reports about the stock. Rosenblatt Securities raised their price objective on shares of Calix from $65.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Zacks Research lowered Calix from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 30th. Craig Hallum restated a “buy” rating and issued a $75.00 price target on shares of Calix in a research report on Friday, October 31st. UBS Group reaffirmed an “outperform” rating and set a $75.00 price objective on shares of Calix in a research note on Friday, October 31st. Finally, Roth Capital set a $85.00 price objective on Calix and gave the stock a “buy” rating in a research report on Thursday, October 30th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Calix currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.00.

Insider Transactions at Calix

In related news, Director Carl Russo sold 420,000 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $64.09, for a total transaction of $26,917,800.00. Following the completion of the transaction, the director directly owned 1,694,188 shares of the company’s stock, valued at $108,580,508.92. This represents a 19.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Cory Sindelar sold 50,000 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $65.30, for a total transaction of $3,265,000.00. Following the completion of the sale, the chief financial officer owned 76,555 shares of the company’s stock, valued at approximately $4,999,041.50. The trade was a 39.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 530,000 shares of company stock worth $34,099,800 over the last ninety days. 16.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in shares of Calix by 11.0% during the 1st quarter. Royal Bank of Canada now owns 28,022 shares of the communications equipment provider’s stock valued at $993,000 after acquiring an additional 2,773 shares during the period. AQR Capital Management LLC increased its stake in Calix by 304.1% in the 1st quarter. AQR Capital Management LLC now owns 44,874 shares of the communications equipment provider’s stock valued at $1,538,000 after purchasing an additional 33,769 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised 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 worth $6,249,000 after purchasing an additional 16,905 shares during the last quarter. Intech Investment Management LLC boosted its position 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 worth $1,167,000 after purchasing an additional 6,962 shares in the last quarter. Finally, Strs Ohio acquired a new stake in Calix in the first quarter valued at $851,000. 98.14% of the stock is currently owned by institutional investors and hedge funds.

Calix Price Performance

The firm has a market cap of $4.04 billion, a PE ratio of -508.27 and a beta of 1.55. The business has a 50-day moving average price of $55.51 and a two-hundred day moving average price of $57.52.

Calix (NYSE:CALX) last released its quarterly earnings data on Wednesday, October 29th. The communications equipment provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.34 by $0.10. The business had revenue of $265.44 million for the quarter, compared to analyst estimates of $246.21 million. Calix had a negative net margin of 0.78% and a negative return on equity of 0.69%. The business’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.13 EPS. Calix has set its Q4 2025 guidance at 0.350-0.410 EPS. Equities analysts expect that Calix, Inc will post -0.43 earnings per share for the current fiscal year.

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.