JPMorgan Chase & Co. Cuts Calix (NYSE:CALX) Price Target to $70.00
by Doug Wharley · The Cerbat GemCalix (NYSE:CALX – Free Report) had its target price lowered by JPMorgan Chase & Co. from $90.00 to $70.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the communications equipment provider’s stock.
Several other research firms also recently commented on CALX. Weiss Ratings raised shares of Calix from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Monday, February 23rd. Zacks Research downgraded shares of Calix from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Needham & Company LLC lowered their target price on shares of Calix from $82.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, January 29th. Craig Hallum set a $60.00 target price on shares of Calix in a research report on Friday, January 30th. Finally, Rosenblatt Securities restated a “buy” rating and set a $70.00 price target on shares of Calix in a report on Tuesday, March 31st. Six 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’s stock. Based on data from MarketBeat, Calix has a consensus rating of “Moderate Buy” and an average target price of $71.67.
View Our Latest Stock Analysis on CALX
Calix Price Performance
Calix stock opened at $50.20 on Thursday. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 200.82 and a beta of 1.53. Calix has a one year low of $32.55 and a one year high of $71.22. The company’s fifty day moving average price is $51.15 and its two-hundred day moving average price is $54.79.
Calix (NYSE:CALX – Get Free Report) last posted its earnings results on Wednesday, January 28th. The communications equipment provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $272.40 million for the quarter, compared to the consensus estimate of $267.36 million. Calix had a net margin of 1.79% and a return on equity of 2.31%. The business’s quarterly revenue was up 32.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.08 earnings per share. Calix has set its Q1 2026 guidance at 0.340-0.400 EPS. As a group, sell-side analysts anticipate that Calix will post -0.43 earnings per share for the current year.
Calix announced that its board has authorized a stock buyback plan on Wednesday, January 28th that authorizes the company to repurchase $125.00 million in shares. This repurchase authorization authorizes the communications equipment provider to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
Institutional Investors Weigh In On Calix
Several hedge funds have recently made changes to their positions in the stock. Diversified Trust Co lifted its stake in shares of Calix by 9.0% in the first quarter. Diversified Trust Co now owns 11,057 shares of the communications equipment provider’s stock valued at $542,000 after buying an additional 910 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in Calix by 24,733.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 745 shares of the communications equipment provider’s stock worth $39,000 after purchasing an additional 742 shares during the period. Pacer Advisors Inc. lifted its stake in Calix by 79.5% during the fourth quarter. Pacer Advisors Inc. now owns 6,520 shares of the communications equipment provider’s stock worth $345,000 after purchasing an additional 2,888 shares during the period. Invesco Ltd. lifted its stake in Calix by 19.9% during the fourth quarter. Invesco Ltd. now owns 577,771 shares of the communications equipment provider’s stock worth $30,581,000 after purchasing an additional 95,738 shares during the period. Finally, Strive Financial Group LLC bought a new position in Calix during the fourth quarter worth about $40,000. Institutional investors own 98.14% of the company’s stock.
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.