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

Calix (NYSE:CALX)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $45.00 target price on the communications equipment provider’s stock. Needham & Company LLC’s target price would indicate a potential upside of 30.85% from the stock’s previous close.

CALX has been the topic of a number of other reports. StockNews.com upgraded Calix from a “sell” rating to a “hold” rating in a research note on Tuesday, August 20th. Roth Mkm boosted their target price on shares of Calix from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Rosenblatt Securities raised their price target on shares of Calix from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price objective on Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Finally, Craig Hallum raised their target price on Calix from $41.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Calix has a consensus rating of “Moderate Buy” and an average price target of $42.50.

Calix Stock Performance

Calix stock opened at $34.39 on Tuesday. Calix has a 1 year low of $26.76 and a 1 year high of $47.21. The firm’s 50-day moving average is $36.54 and its 200-day moving average is $34.20. The company has a market cap of $2.25 billion, a P/E ratio of 110.94 and a beta of 1.74.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Calix by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 7,323,628 shares of the communications equipment provider’s stock worth $242,852,000 after purchasing an additional 900,713 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Calix by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,793,545 shares of the communications equipment provider’s stock valued at $63,546,000 after buying an additional 45,656 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Calix by 10.5% in the 4th quarter. Wellington Management Group LLP now owns 1,755,497 shares of the communications equipment provider’s stock valued at $76,698,000 after buying an additional 166,695 shares during the last quarter. TD Asset Management Inc lifted its stake in Calix by 516.6% in the fourth quarter. TD Asset Management Inc now owns 1,610,885 shares of the communications equipment provider’s stock valued at $70,380,000 after acquiring an additional 1,349,625 shares during the last quarter. Finally, Paradigm Capital Management Inc. NY lifted its stake in Calix by 9.5% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,336,900 shares of the communications equipment provider’s stock valued at $47,366,000 after purchasing an additional 115,500 shares during the last quarter. Institutional investors own 98.14% of the company’s stock.

Calix Company Profile

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.