Calix stock jumps 5% on $100M buyback program expansion

Investing.com -- Calix Inc (NYSE: CALX) shares rose 4.8% in after-hours trading Thursday following the company's announcement that its board of directors authorized an additional $100 million for its stock repurchase program.

The expanded authorization is designed to provide the company with greater flexibility to continue its capital allocation approach, according to a company statement.

Under the repurchase program, Calix can make purchases through various methods, including open market purchases and privately negotiated transactions, in accordance with Securities and Exchange Commission rules. The timing, price, and size of purchases will depend on prevailing stock prices, market conditions, and other considerations aligned with the company's capital allocation strategy.

The stock repurchase program does not obligate Calix to purchase any specific dollar amount or number of shares, and the program may be suspended or discontinued at any time.

Calix provides an AI platform that enables service providers to transform their operations and deliver services to residential, business, municipal, and multi-dwelling unit markets. The company serves more than 1,200 customers.

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