Calix (NYSE:CALX) Shares Down 6.8% – Here’s What Happened
by Danessa Lincoln · The Markets DailyShares of Calix, Inc (NYSE:CALX – Get Free Report) were down 6.8% on Tuesday. The stock traded as low as $33.48 and last traded at $33.6570. Approximately 685,382 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 1,089,663 shares. The stock had previously closed at $36.13.
Calix News Summary
Here are the key news stories impacting Calix this week:
- Positive Sentiment: Rosenblatt Securities reaffirmed its Buy rating and $55 price target, indicating substantial upside in the firm’s view. Calix Stock Keeps Buy Rating at Rosenblatt Securities
- Positive Sentiment: Coverage highlights record revenue and Calix’s AI push as potential growth catalysts. The company’s latest reported quarterly revenue grew 13.7% year over year. Record Revenue and AI Push Could Be a Game Changer for Calix
- Neutral Sentiment: JPMorgan cut its price target from $58 to $50 but maintained an Overweight rating, reflecting a more cautious outlook while retaining a positive recommendation. JPMorgan analyst recommendations
- Negative Sentiment: Q3 results showed earnings per share of $0.44, ahead of the $0.42 consensus, but revenue of $301.71 million missed estimates. Recent coverage emphasizes profit and margin pressure, weighing on the reaction to the results. Calix Stock Drops After Q3 Results Expose Profit Pressure
- Negative Sentiment: A report flags potential FCC regulatory risks that could affect router approvals and firmware updates after 2029, adding uncertainty to Calix’s outlook. Calix Faces Rising FCC Regulatory Risks
- Negative Sentiment: Other recent analysis argues CALX may still be overvalued despite its steep decline, which could limit investor enthusiasm. Calix Stock Still Looks Overvalued After a 51% Fall
Analyst Ratings Changes
Several brokerages recently commented on CALX. Roth Capital reaffirmed a “buy” rating on shares of Calix in a research note on Tuesday, July 21st. JPMorgan Chase & Co. dropped their price objective on Calix from $58.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday. Zacks Research raised Calix from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Weiss Ratings downgraded shares of Calix from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, October 26th. Finally, Wall Street Zen upgraded shares of Calix from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 31st. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Calix has an average rating of “Moderate Buy” and an average price target of $55.80.
View Our Latest Analysis on Calix
Calix Stock Performance
The firm has a market capitalization of $2.01 billion, a P/E ratio of 46.93 and a beta of 1.21. The stock has a 50-day moving average of $35.87 and a 200 day moving average of $42.33.
Calix (NYSE:CALX – Get Free Report) last issued its quarterly earnings data on Monday, November 2nd. The communications equipment provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. The firm had revenue of $301.71 million during the quarter, compared to the consensus estimate of $304.23 million. Calix had a return on equity of 5.67% and a net margin of 3.99%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS. On average, equities analysts predict that Calix, Inc will post 0.89 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in Calix in the 2nd quarter valued at about $439,461,000. Paradigm Capital Management Inc. NY bought a new position in shares of Calix in the second quarter worth about $37,213,000. Fort Washington Investment Advisors Inc. OH acquired a new position in shares of Calix during the third quarter worth approximately $32,090,000. Bank of America Corp DE acquired a new position in shares of Calix during the second quarter worth approximately $20,900,000. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Calix during the second quarter worth approximately $14,931,000. Institutional investors and hedge funds own 98.14% of the company’s stock.
About Calix
Calix, Inc provides cloud, software and broadband access solutions to communications service providers. Its technology helps broadband operators deploy, manage and monetize high-speed internet and related services for residential and business customers.
The company’s offerings include broadband access systems, subscriber premise equipment, cloud-based software and analytics, and managed services. Its portfolio supports fiber, fixed wireless and other broadband networks, while enabling providers to deliver services such as Wi-Fi management, network security, connected home applications and business connectivity.
Founded in 1999 and headquartered in San Jose, California, Calix serves broadband service providers primarily in North America, with customers and operations in other international markets.
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