Calix (NYSE:CALX) Trading 6.1% Higher – Should You Buy?

Calix, Inc. (NYSE:CALX)’s share price traded up 6.1% during mid-day trading on Tuesday . The stock traded as high as $31.19 and last traded at $31.18. 531,563 shares changed hands during mid-day trading, a decline of 22% from the average session volume of 678,492 shares. The stock had previously closed at $29.40.

Analysts Set New Price Targets

A number of research analysts recently commented on CALX shares. JPMorgan Chase & Co. raised their price objective on shares of Calix from $38.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price target on shares of Calix in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Calix presently has an average rating of “Moderate Buy” and a consensus price target of $43.17.

Calix Trading Down 1.6 %

The firm has a market capitalization of $2.13 billion, a P/E ratio of -70.97 and a beta of 1.78. The business’s fifty day moving average is $37.73 and its 200 day moving average is $36.41.

Calix (NYSE:CALX) last posted its quarterly earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.31). Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. As a group, sell-side analysts predict that Calix, Inc. will post -0.43 earnings per share for the current fiscal year.

Insider Transactions at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $38.15, for a total value of $953,750.00. Following the completion of the transaction, the director now directly owns 2,164,188 shares in the company, valued at $82,563,772.20. This trade represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 16.69% of the stock is owned by insiders.

Institutional Investors Weigh In On Calix

Several hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. lifted its stake in Calix by 29.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider’s stock worth $54,000 after acquiring an additional 358 shares in the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of Calix by 8.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,224 shares of the communications equipment provider’s stock valued at $217,000 after purchasing an additional 465 shares during the period. Atria Investments Inc lifted its position in shares of Calix by 7.1% in the fourth quarter. Atria Investments Inc now owns 7,120 shares of the communications equipment provider’s stock worth $248,000 after purchasing an additional 469 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Calix by 16.7% during the third quarter. Assetmark Inc. now owns 3,381 shares of the communications equipment provider’s stock worth $131,000 after purchasing an additional 485 shares during the period. Finally, National Bank of Canada FI grew its position in Calix by 0.4% during the third quarter. National Bank of Canada FI now owns 142,187 shares of the communications equipment provider’s stock valued at $5,515,000 after purchasing an additional 520 shares in the last quarter. Hedge funds and other 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.