Calix’s (CALX) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Calix (NYSE:CALX) in a research note published on Tuesday morning, Benzinga reports. They currently have a $45.00 price objective on the communications equipment provider’s stock.

A number of other brokerages have also issued reports on CALX. JPMorgan Chase & Co. boosted their price objective on Calix from $28.00 to $41.00 and gave the company a neutral rating in a report on Monday, July 22nd. Rosenblatt Securities increased their target price on shares of Calix from $35.00 to $45.00 and gave the stock a buy rating in a report on Wednesday, July 24th. StockNews.com upgraded Calix from a sell rating to a hold rating in a report on Tuesday, August 20th. Roth Mkm increased their price target on shares of Calix from $43.00 to $44.00 and gave the company a buy rating in a research report on Tuesday, July 23rd. Finally, Craig Hallum lifted their price objective on shares of Calix from $41.00 to $50.00 and gave the stock a buy rating in a research report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $42.50.

Calix Stock Performance

NYSE CALX opened at $35.31 on Tuesday. The stock has a 50 day moving average price of $36.59 and a 200-day moving average price of $34.22. Calix has a one year low of $26.76 and a one year high of $47.15. The company has a market capitalization of $2.31 billion, a P/E ratio of 113.90 and a beta of 1.74.

Calix (NYSE:CALX) last posted its quarterly earnings data on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Calix had a net margin of 0.52% and a return on equity of 4.17%. The business had revenue of $198.14 million for the quarter, compared to analysts’ expectations of $200.77 million. During the same quarter in the previous year, the business posted $0.15 earnings per share. The business’s revenue was down 24.1% compared to the same quarter last year. As a group, equities analysts predict that Calix will post -0.36 EPS for the current fiscal year.

Insider Buying and Selling at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $37.56, for a total transaction of $939,000.00. Following the sale, the director now owns 3,723,381 shares in the company, valued at approximately $139,850,190.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 16.69% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Amalgamated Bank grew its holdings in Calix by 1.6% in the 4th quarter. Amalgamated Bank now owns 37,058 shares of the communications equipment provider’s stock valued at $1,619,000 after buying an additional 568 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of Calix in the 4th quarter valued at about $248,000. Charles Schwab Investment Management Inc. increased its position in shares of Calix by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 468,490 shares of the communications equipment provider’s stock worth $20,468,000 after purchasing an additional 7,485 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Calix by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,672,146 shares of the communications equipment provider’s stock worth $73,057,000 after purchasing an additional 35,992 shares during the period. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Calix in the 4th quarter valued at $266,000. Institutional investors and hedge funds own 98.14% of the company’s stock.

About Calix

Calix, Inc, together with its subsidiaries, engages in the provision of cloud and software platforms, and systems and services in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its cloud and software platforms, and systems and services enable broadband service providers (BSPs) to provide a range of services.