Calix (NYSE:CALX) Cut to Buy at Wall Street Zen

Wall Street Zen cut shares of Calix (NYSE:CALX) from a strong-buy rating to a buy rating in a research report released on Sunday morning.

A number of other research firms have also commented on CALX. Craig Hallum set a $60.00 price target on shares of Calix in a research report on Friday, January 30th. JPMorgan Chase & Co. upgraded shares of Calix from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $75.00 to $90.00 in a research report on Thursday, January 15th. Needham & Company LLC lowered their price objective on shares of Calix from $82.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, January 29th. Zacks Research lowered shares of Calix from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $85.00 target price on shares of Calix in a research note on Tuesday, January 27th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Calix currently has an average rating of “Moderate Buy” and an average target price of $75.00.

Calix Price Performance

Shares of CALX stock opened at $48.96 on Friday. The stock has a market capitalization of $3.16 billion, a PE ratio of 195.86 and a beta of 1.49. Calix has a 1-year low of $29.50 and a 1-year high of $71.22. The business has a 50-day moving average of $51.98 and a 200 day moving average of $55.98.

Calix (NYSE:CALX) last announced its quarterly earnings results on Wednesday, January 28th. The communications equipment provider reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Calix had a return on equity of 2.31% and a net margin of 1.79%.The business had revenue of $272.40 million for the quarter, compared to analysts’ expectations of $267.36 million. During the same period in the previous year, the firm earned $0.08 EPS. The business’s quarterly revenue was up 32.2% on a year-over-year basis. Calix has set its Q1 2026 guidance at 0.340-0.400 EPS. Analysts anticipate that Calix will post -0.43 EPS for the current year.

Calix announced that its board has authorized a stock buyback plan on Wednesday, January 28th that permits the company to buyback $125.00 million in outstanding shares. This buyback authorization permits the communications equipment provider to purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Calix

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position in shares of Calix by 11.0% in the 1st quarter. Royal Bank of Canada now owns 28,022 shares of the communications equipment provider’s stock worth $993,000 after buying an additional 2,773 shares during the period. AQR Capital Management LLC lifted its position in Calix by 304.1% during 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 acquiring an additional 33,769 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Calix by 10.6% during the 1st 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 acquiring an additional 16,905 shares during the period. Intech Investment Management LLC boosted its stake 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 acquiring an additional 6,962 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Calix by 4.5% during the second quarter. Swiss National Bank now owns 120,900 shares of the communications equipment provider’s stock worth $6,431,000 after acquiring an additional 5,200 shares in the last quarter. Hedge funds and other 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.