Brokerages Set Calix, Inc. (NYSE:CALX) PT at $42.50

Calix, Inc. (NYSE:CALX) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $42.50.

CALX has been the subject of several recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $45.00 target price on shares of Calix in a research report on Tuesday, September 10th. Roth Mkm upped their target price 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. StockNews.com upgraded shares of Calix from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Craig Hallum upped their target price on shares of Calix from $41.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd.

Calix Stock Performance

NYSE:CALX opened at $38.02 on Friday. The stock’s fifty day moving average price is $37.46 and its two-hundred day moving average price is $35.10. Calix has a 52-week low of $26.76 and a 52-week high of $45.15. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 122.65 and a beta of 1.74.

Insider Activity at Calix

In related news, Director Carl Russo sold 25,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $37.56, for a total value of $939,000.00. Following the completion of the sale, the director now owns 3,723,381 shares in the company, valued at $139,850,190.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 16.69% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Calix

A number of large investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System increased its holdings in Calix by 1.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 29,300 shares of the communications equipment provider’s stock worth $1,038,000 after purchasing an additional 300 shares in the last quarter. Portside Wealth Group LLC increased its holdings in Calix by 4.4% during the 2nd quarter. Portside Wealth Group LLC now owns 7,214 shares of the communications equipment provider’s stock worth $256,000 after purchasing an additional 301 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Calix by 13.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,520 shares of the communications equipment provider’s stock worth $89,000 after purchasing an additional 303 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in Calix by 29.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,385 shares of the communications equipment provider’s stock worth $54,000 after purchasing an additional 318 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Calix by 187.9% during the 3rd quarter. GAMMA Investing LLC now owns 668 shares of the communications equipment provider’s stock worth $26,000 after purchasing an additional 436 shares in 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.