Calix price target raised to $73 from $58 at Barrington » 15:3410/2610/26/21
Barrington analyst Christopher Howe raised the firm's price target on Calix to $73 from $58 and keeps an Outperform rating on the shares after the company reported better than expected Q3 results and gave a better than expected fourth quarter revenue outlook. Considering further penetration, the maturation of government programs, and the company's participation in "a multi-decade disruption," Howe is raising his multiple assumption to reflect his confidence in Calix's growth prospects, he tells investors in a post-earnings note.
Calix Q3 results 'look great' on first impressions, says Jefferies » 07:4810/2610/26/21
Jefferies analyst George…
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Calix sees 2022 revenue growth at high end of 5%-10% range » 17:1010/2510/25/21
The company said,…
The company said, "Our target financial model range remains for revenue growth between 5 to 10% per year on an annual basis, and we expect to be toward the high side of this range for 2022."
Calix sees Q4 EPS 20c-25c, consensus 21c » 17:1010/2510/25/21
Sees Q4 revenue…
Sees Q4 revenue $170M-$176M, consensus $163.11M. The company said, Our guidance for the fourth quarter of 2021 ending December 31, 2021, reflects our expectations as of the date of this letter. These expectations reflect our current estimate of the global impacts from the coronavirus pandemic on our business and assessment of supply chain and logistical challenges. Our revenue guidance for the fourth quarter of 2021 is for essentially flat to an increase of approximately 4% compared to the year ago quarter. While we expect another strong quarter of demand for our All Platform offerings, we expect our revenue will continue to be impacted by supply chain constraints and logistical challenges."
Calix reports Q3 EPS 35c, consensus 28c » 17:0810/2510/25/21
Reports Q3 revenue…
Reports Q3 revenue $172.2M, consensus $167.59M. The company said, "Results for the third quarter of 2021 set a number of third quarter and quarterly records and were better than our financial guidance provided last quarter. Overall demand was robust, and our supply chain outperformed despite the continued challenging global environment for component sourcing and supply chain logistics. Total revenue, which exceeded the high end of our guidance range, increased more than 14% compared to the year ago quarter. This strong performance was driven by demand for our All Platform offerings more than offsetting decreased purchases of our legacy system products."
Calix options imply 14.2% move in share price post-earnings » 14:4910/2510/25/21
Pre-earnings options volume in Calix is 2.1x normal with calls leading puts 5:2. Implied volatility suggests the market is anticipating a move near 14.2%, or $7.57, after results are released. Median move over the past eight quarters is 6.5%.
Cambium Networks price target lowered to $50 from $64 at Northland » 08:3010/2210/22/21
CMBM, ADTN, CALX
Northland analyst Tim…
Northland analyst Tim Savageaux lowered the firm's price target on Cambium Networks (CMBM) to $50 from $64 and keeps an Outperform rating on the shares after the company pre-announced lower than expected Q3 results, citing supply issues despite very strong demand. As is the case with Adtran (ADTN), he would look through these short term supply issues, which Savageaux points out were also noted by Calix (CALX) as a major challenge at the firm's recent Rural Broadband Forum, and continue to focus on Cambium's strong growth potential in 2022 as supply conditions improve.
Calix price target raised to $74 from $58 at Jefferies » 07:5910/2110/21/21
Jefferies analyst George…
Jefferies analyst George Notter raised the firm's price target on Calix to $74 from $58 and keeps a Buy rating on the shares after the company hosted its annual ConneXions Conference this week. The conference featured several new software and hardware announcements as there's "a ton of innovation coming out of the company right now," Notter tells investors. Given incremental Calix Cloud disclosures and commentary on Cloud, Notter said it is "increasingly clear" that the company's pace of innovation has accelerated and that their total addressable market continues to expand.
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Aviat Networks appoints David Gray as CFO » 16:0510/1810/18/21
Aviat Networks announced…
Aviat Networks announced that David M. Gray will join its management team as Senior Vice President and CFO effective today. To ensure a smooth transition, Gray will work closely with the company's departing CFO Eric Chang, who will remain with the company in an advisory capacity for a period of time. Before joining Aviat, Gray was CFO and Treasurer, of Superior Essex, a $2.6B global manufacturer and distributor of communications and electrical equipment. Prior to Superior Essex, Mr. Gray served as Vice President, Finance, at Cooper Industries where he was CFO of a $800M revenue business focused on electrical, electronic and power management solutions. Gray has also held a variety of executive finance and accounting positions at Newell Brands, Philips Electronics, and Autoliv. Gray holds a BS in Accounting from Penn State University, and is a CPA and CMA.
Calix announces 'end-to-end solution strategy' for broadband service providers » 12:3210/1810/18/21
Calix announced that…
Calix announced that today at ConneXions 2021 in Las Vegas it "unveiled an end-to-end solution strategy to enable broadband service providers to get the most out of all of their investments in Calix platforms." The company stated: "The new Calix solution leverages the automation, behavioral analytics, and predictive intelligence of the Calix Cloud to ensure that marketing, customer support and network operations teams gain a unified, holistic view of the subscriber experience-spanning a BSPs entire subscriber facing network from the access edge to the subscriber premises. The new end-to-end solutions strategy creates tremendous new value from a BSPs investments in the Intelligent Access EDGE and Revenue EDGE solutions, enabling BSPs to transform across three core areas of their business." Michael Weening, president and chief operating officer for Calix, added: "We have invested 11 years and a billion dollars to build the world's most advanced platforms for broadband service providers of all sizes to win. Today, these platforms came together with the power of Calix Cloud to ensure that BSPs leverage all of their Calix assets to build a value proposition for the subscriber that no consumer-direct competitor can ever threaten."