Calix (NYSE:CALX) Sets New 12-Month High - Here's Why

Shares of Calix, Inc. (NYSE:CALX - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $42.00 and last traded at $42.02, with a volume of 426142 shares changing hands. The stock had previously closed at $40.75.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. JPMorgan Chase & Co. upped their price objective on Calix from $38.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Needham & Company LLC reissued a "buy" rating and set a $45.00 price target on shares of Calix in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $43.17.

Calix Stock Performance

The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of -91.28 and a beta of 1.70. The company has a 50 day moving average price of $36.62 and a two-hundred day moving average price of $36.47.

Calix (NYSE:CALX - Get Free Report) last posted 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 negative return on equity of 3.43% and a negative net margin of 3.58%. On average, equities analysts expect that Calix, Inc. will post -0.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Calix

Institutional investors have recently bought and sold shares of the company. Hexagon Capital Partners LLC lifted its position in shares of Calix by 29.8% in the third quarter. Hexagon Capital Partners LLC now owns 1,385 shares of the communications equipment provider's stock valued at $54,000 after acquiring an additional 318 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Calix by 29.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider's stock valued at $54,000 after purchasing an additional 358 shares in the last quarter. GAMMA Investing LLC boosted its stake 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 during the last quarter. Atria Investments Inc boosted its stake in Calix by 7.1% during the 4th 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 during the last quarter. Finally, Assetmark Inc. raised its position in shares of Calix by 16.7% in the third quarter. Assetmark Inc. now owns 3,381 shares of the communications equipment provider's stock valued at $131,000 after buying an additional 485 shares during the last quarter. 98.14% of the stock is currently owned by institutional investors and hedge funds.

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.