On January 7 it was reported that the President & CEO of Calix (CALX – Research Report), Carl Russo, exercised options to buy 100,000 CALX shares at $19.75 a share, for a total transaction value of $1.98M. The options were close to expired and Carl Russo retained stocks.
Following this transaction Carl Russo’s holding in the company was increased by 1.63% to a total of $194 million. In addition to Carl Russo, one other CALX executive reported Buy trades in the last month.
Based on Calix’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $151 million and quarterly net profit of $20.54 million. In comparison, last year the company earned revenue of $114 million and had a GAAP net loss of $3.38 million. The company has a one-year high of $33.05 and a one-year low of $5.61. Currently, Calix has an average volume of 746.63K.
Starting in January 2020, CALX received 15 Buy ratings in a row. Four different firms, including Craig-Hallum and Jefferies, currently also have a Buy rating on the stock. Based on 4 analyst ratings, the analyst consensus is Strong Buy with an average price target of $31.00, reflecting a 1.8% upside.
The insider sentiment on Calix has been positive according to 32 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.
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Calix, Inc. provides cloud and software platforms, systems and services required to realize the unified access network. The firm offers broadband communications access systems and software for fiber and copper-based network architectures that enable communications service providers to transform their networks and connect to their residential and business subscribers. It enables communication service providers to provide a wide range of revenue-generating services from basic voice and data to advanced broadband services over legacy and next-generation access networks. The firm focuses on communications service providers access networks with the portion of the network, which governs available bandwidth and determines the range and quality of services that can be offered to subscribers. It also develops and sells carrier-class hardware and software products. The company was founded by Michael L. Hatfield and Carl E. Russo in August 1999 and is headquartered in San Jose, CA.