Calix (NYSE:CALX) Shares Gap Up - Time to Buy?

Calix, Inc. (NYSE:CALX - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $36.87, but opened at $40.00. Calix shares last traded at $40.82, with a volume of 241,233 shares traded.

Analysts Set New Price Targets

Several analysts recently commented on the company. Needham & Company LLC reiterated a "buy" rating and set a $45.00 price target on shares of Calix in a research report on Thursday. JPMorgan Chase & Co. upped their target price on shares of Calix from $38.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday. Finally, StockNews.com raised shares of Calix from a "sell" rating to a "hold" rating in a research note on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $43.17.

Calix Price Performance

The company has a market cap of $2.64 billion, a price-to-earnings ratio of -88.38 and a beta of 1.68. The firm has a 50 day simple moving average of $35.78 and a 200-day simple moving average of $36.29.

Calix (NYSE:CALX - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share (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 3.46%. Research analysts anticipate that Calix, Inc. will post -0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Calix

A number of hedge funds have recently made changes to their positions in CALX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Calix by 5.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 129,608 shares of the communications equipment provider's stock valued at $5,027,000 after acquiring an additional 6,984 shares in the last quarter. HighTower Advisors LLC purchased a new position in shares of Calix in the third quarter valued at approximately $3,513,000. Geode Capital Management LLC grew its holdings in shares of Calix by 1.1% in the third quarter. Geode Capital Management LLC now owns 1,331,565 shares of the communications equipment provider's stock valued at $51,661,000 after purchasing an additional 14,725 shares in the last quarter. Barclays PLC increased its stake in Calix by 184.0% during the 3rd quarter. Barclays PLC now owns 113,579 shares of the communications equipment provider's stock worth $4,404,000 after buying an additional 73,588 shares during the period. Finally, Creative Planning acquired a new stake in Calix during the 2nd quarter worth approximately $513,000. Hedge funds and other 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.