Calix (NYSE:CALX) Rating Reiterated by Needham & Company LLC

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

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

Calix Trading Down 0.3 %

NYSE CALX opened at $34.39 on Tuesday. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 110.94 and a beta of 1.74. The company has a 50 day moving average of $36.54 and a 200-day moving average of $34.20. Calix has a 1-year low of $26.76 and a 1-year high of $47.21.

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

Insider Buying and Selling at Calix

In other 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 transaction of $939,000.00. Following the completion of the transaction, the director now directly owns 3,723,381 shares in the company, valued at $139,850,190.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 16.69% of the company’s stock.

Hedge Funds Weigh In On Calix

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Amalgamated Bank grew its holdings in Calix by 1.6% during the 4th quarter. Amalgamated Bank now owns 37,058 shares of the communications equipment provider’s stock worth $1,619,000 after acquiring an additional 568 shares during the last quarter. Private Advisor Group LLC bought a new stake in shares of Calix in the fourth quarter worth $248,000. Charles Schwab Investment Management Inc. grew its stake in shares of Calix by 1.6% in 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 during the last quarter. Dimensional Fund Advisors LP increased its holdings in Calix by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,672,146 shares of the communications equipment provider’s stock valued at $73,057,000 after purchasing an additional 35,992 shares during the period. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Calix during the 4th quarter worth $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.