Calnex Solutions (CLX)

Sector:

IT Hardware

Index:

FTSE AIM All-Share

55.00p
   
  • Change Today:
      1.00p
  • 52 Week High: 140.50
  • 52 Week Low: 41.00
  • Currency: UK Pounds
  • Shares Issued: 87.56m
  • Volume: 6,134
  • Market Cap: £48.16m
  • RiskGrade: 286

AT&T's OpenRAN acceleration should benefit Spirent and Calnex, says Canaccord

By Benjamin Chiou

Date: Tuesday 05 Dec 2023

LONDON (ShareCast) - (Sharecast News) - Canaccord Genuity has reiterated its 'buy' ratings on Spirent and Calnex, saying the announcement by AT&T to commit $14bn to accelerate OpenRAN in the US "should rub off positively" on the UK-listed tech firms.
US telco giant AT&T announced on Monday that it is planning to build an OpenRAN-capable 5G radio network, with Ericsson as its lead vendor, over the next five years. OpenRAN enables mobile network operators to "use equipment from multiple vendors for individual network radio access network (RAN) components and still ensure interoperability compared to typically single- or dual-sourced 'standard' radio access networks," Canaccord analysts explained.

AT&T said it should have fully integrated OpenRAN sites starting in 2024 and ramp up deployments from 2025, moving away from "closed proprietary interfaces...enabling rapid scaling and management of mixed supplier hardware at each cell site."

It expects that 70% of its wireless network traffic will flow across its OpenRAN-capable network by late-2026.

"In our recent note, we highlighted OpenRAN as one of the technology drivers that could help boost demand for network test solutions over the next few years. However, so far the technology has only seen modest global adoption, but this commitment by AT&T could accelerate industry-wide momentum," Canaccord said.

"To deploy OpenRAN, telcos typically need a lot more testing capability in order to ensure and monitor interoperability of the individual network components."

AT&T is estimated to be Spirent's largest single customer, accounting for up to 10% of sales, while the news could also support demand for Calnex's SNE-Ignite OpenRAN emulation platform, Canaccord said.

"Overall, we view AT&T's announcement as an industry positive that should add incremental impulses to a still tough telco spending environment and improve visibility on our 2024+ demand recovery thesis."

Despite the news, Spirent's share price was down 0.5% in morning trade, while Calnex was flat.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

CLX Market Data

Currency UK Pounds
Share Price 55.00p
Change Today 1.00p
% Change 1.85 %
52 Week High 140.50
52 Week Low 41.00
Volume 6,134
Shares Issued 87.56m
Market Cap £48.16m
RiskGrade 286

CLX Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
33.11% below the market average33.11% below the market average33.11% below the market average33.11% below the market average33.11% below the market average
21.74% below the sector average21.74% below the sector average21.74% below the sector average21.74% below the sector average21.74% below the sector average
Price Trend
28.25% below the market average28.25% below the market average28.25% below the market average28.25% below the market average28.25% below the market average
38.46% below the sector average38.46% below the sector average38.46% below the sector average38.46% below the sector average38.46% below the sector average
Income
25.22% above the market average25.22% above the market average25.22% above the market average25.22% above the market average25.22% above the market average
25% below the sector average25% below the sector average25% below the sector average25% below the sector average25% below the sector average
Growth
49.75% above the market average49.75% above the market average49.75% above the market average49.75% above the market average49.75% above the market average
20.00% above the sector average20.00% above the sector average20.00% above the sector average20.00% above the sector average20.00% above the sector average

CLX Dividends

  Latest Previous
  Interim Final
Ex-Div 30-Nov-23 27-Jul-23
Paid 15-Dec-23 30-Aug-23
Amount 0.31p 0.62p

Trades for 17-Apr-2024

Time Volume / Share Price
16:35 865 @ 55.00p
16:35 115 @ 55.00p
16:35 750 @ 55.00p
13:12 769 @ 54.30p
12:06 4,500 @ 54.33p

CLX Key Personnel

CEO Thomas (Tommy) Cook
CFO Ashleigh Joanne Greenan

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