Analysts Set Calix, Inc. (NYSE:CALX) PT at $43.17

Calix, Inc. (NYSE:CALX - Get Free Report) has been given an average recommendation of "Moderate Buy" by the six brokerages that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $43.17.

CALX has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their target price on Calix from $38.00 to $45.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Needham & Company LLC reiterated a "buy" rating and issued a $45.00 price objective on shares of Calix in a research report on Thursday, January 30th.

Calix Trading Up 1.4 %

Shares of NYSE CALX traded up $0.48 during trading hours on Friday, reaching $34.43. The stock had a trading volume of 708,184 shares, compared to its average volume of 666,831. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -76.50 and a beta of 1.75. Calix has a fifty-two week low of $26.76 and a fifty-two week high of $42.50. The firm has a 50-day moving average of $35.85 and a 200-day moving average of $35.92.

Calix (NYSE:CALX - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) 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%. On average, equities analysts predict that Calix will post -0.43 EPS for the current year.

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Insider Buying and Selling

In related news, Director Carl Russo sold 25,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $38.15, for a total transaction of $953,750.00. Following the transaction, the director now directly owns 2,164,188 shares in the company, valued at approximately $82,563,772.20. This represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 16.69% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CALX. Vanguard Group Inc. raised its stake in Calix by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 7,977,769 shares of the communications equipment provider's stock worth $278,185,000 after purchasing an additional 412,982 shares during the period. Millennium Management LLC increased its holdings in Calix by 77.8% in the 4th quarter. Millennium Management LLC now owns 2,031,212 shares of the communications equipment provider's stock valued at $70,828,000 after purchasing an additional 889,102 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Calix by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,832,407 shares of the communications equipment provider's stock valued at $63,897,000 after purchasing an additional 74,720 shares during the period. Congress Asset Management Co. lifted its stake in shares of Calix by 8.1% during the first quarter. Congress Asset Management Co. now owns 1,378,497 shares of the communications equipment provider's stock worth $48,854,000 after purchasing an additional 103,175 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Calix by 3.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,373,246 shares of the communications equipment provider's stock worth $47,885,000 after acquiring an additional 45,195 shares during the period. 98.14% of the stock is currently owned by hedge funds and other institutional investors.

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.