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 report released on Thursday morning,Benzinga reports. Needham & Company LLC currently has a $45.00 target price on the communications equipment provider’s stock.

CALX has been the subject of several other research reports. StockNews.com raised Calix from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Rosenblatt Securities reissued a “buy” rating and issued a $45.00 price target on shares of Calix in a report on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Calix currently has an average rating of “Moderate Buy” and an average price target of $42.50.

Calix Stock Up 9.3 %

Shares of NYSE CALX opened at $40.29 on Thursday. Calix has a 52 week low of $26.76 and a 52 week high of $41.97. The business’s 50 day moving average price is $35.65 and its 200 day moving average price is $36.27. The firm has a market cap of $2.67 billion, a P/E ratio of -167.88 and a beta of 1.68.

Calix (NYSE:CALX) last released its quarterly earnings data on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.31). Calix had a positive return on equity of 1.33% and a negative net margin of 1.79%. As a group, research analysts expect that Calix will post -0.34 earnings per share for the current year.

Hedge Funds Weigh In On Calix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CALX. Rhumbline Advisers raised its position in shares of Calix by 1.3% during the 4th quarter. Rhumbline Advisers now owns 168,531 shares of the communications equipment provider’s stock worth $5,877,000 after purchasing an additional 2,238 shares during the last quarter. Thompson Investment Management Inc. increased its stake in Calix by 4.6% during the 4th quarter. Thompson Investment Management Inc. now owns 90,940 shares of the communications equipment provider’s stock worth $3,171,000 after buying an additional 4,000 shares in the last quarter. Yorktown Management & Research Co Inc acquired a new position in shares of Calix during the fourth quarter valued at approximately $314,000. Pacer Advisors Inc. lifted its position in shares of Calix by 29.8% in the fourth quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider’s stock valued at $54,000 after acquiring an additional 358 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of Calix by 57.8% in the fourth quarter. KBC Group NV now owns 2,772 shares of the communications equipment provider’s stock worth $97,000 after acquiring an additional 1,015 shares during the last quarter. 98.14% of the stock is owned by hedge funds and other institutional investors.

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.