Calix (NYSE:CALX) Hits New 1-Year Low – Here’s Why

Calix, Inc (NYSE:CALX)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $35.68 and last traded at $35.6780, with a volume of 68893 shares. The stock had previously closed at $36.54.

Analysts Set New Price Targets

CALX has been the subject of several analyst reports. Roth Mkm restated a “buy” rating on shares of Calix in a research report on Thursday, April 23rd. Zacks Research upgraded shares of Calix from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Needham & Company LLC decreased their price objective 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. Wall Street Zen upgraded shares of Calix from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 6th. Finally, Rosenblatt Securities restated a “buy” rating and set a $70.00 price objective on shares of Calix in a research report on Wednesday, June 10th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Calix presently has an average rating of “Moderate Buy” and an average target price of $67.00.

Calix Price Performance

The stock has a market cap of $2.28 billion, a P/E ratio of 74.56 and a beta of 1.23. The stock has a 50-day simple moving average of $41.22 and a 200-day simple moving average of $48.55.

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

Calix declared that its board has initiated a share 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 stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Calix

In related news, Director Carl Russo sold 25,000 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were 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 of the company’s stock, valued at $71,127,572.88. This represents a 1.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.44% of the stock is currently owned by corporate insiders.

Institutional Trading of Calix

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp increased its holdings in shares of Calix by 1.0% during the fourth quarter. State Street Corp now owns 2,362,965 shares of the communications equipment provider’s stock worth $125,072,000 after buying an additional 23,022 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 valued at $76,513,000 after acquiring an additional 74,235 shares in the last quarter. Alliancebernstein L.P. grew its position 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 acquiring an additional 61,247 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Calix by 214.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,274,426 shares of the communications equipment provider’s stock worth $78,212,000 after acquiring an additional 868,987 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Calix by 28.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,218,495 shares of the communications equipment provider’s stock worth $59,699,000 after purchasing an additional 269,876 shares in the last quarter. Institutional investors own 98.14% of the company’s stock.

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.