Calix (NYSE:CALX) Trading 3.8% Higher - Still a Buy?

Calix, Inc. (NYSE:CALX - Get Free Report) was up 3.8% during mid-day trading on Tuesday . The company traded as high as $34.57 and last traded at $34.67. Approximately 289,233 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 633,470 shares. The stock had previously closed at $33.39.

Analyst Upgrades and Downgrades

CALX has been the topic of a number of research reports. Needham & Company LLC reissued a "buy" rating and set a $45.00 target price on shares of Calix in a report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price objective on shares of Calix from $38.00 to $45.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.17.

Calix Stock Performance

The stock's 50 day moving average price is $37.41 and its 200 day moving average price is $36.27. The company has a market capitalization of $2.40 billion, a P/E ratio of -79.94 and a beta of 1.78.

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 the consensus estimate 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, analysts expect that Calix, Inc. will post -0.43 earnings per share for the current fiscal year.

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Insider Transactions at Calix

In other news, Director Carl Russo sold 25,000 shares of the company's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $38.15, for a total value of $953,750.00. Following the completion of the sale, the director now owns 2,164,188 shares in the company, valued at $82,563,772.20. This represents a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 16.69% of the company's stock.

Institutional Trading of Calix

A number of institutional investors and hedge funds have recently modified their holdings of CALX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Calix by 5.7% during the third 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 buying an additional 6,984 shares during the period. Principal Financial Group Inc. grew its position in shares of Calix by 3.8% during the 4th quarter. Principal Financial Group Inc. now owns 287,509 shares of the communications equipment provider's stock valued at $10,025,000 after acquiring an additional 10,393 shares during the period. TradeLink Capital LLC purchased a new stake in shares of Calix during the 4th quarter worth approximately $299,000. Yorktown Management & Research Co Inc bought a new stake in shares of Calix in the 4th quarter worth approximately $314,000. Finally, HighTower Advisors LLC bought a new stake in shares of Calix in the 3rd quarter worth approximately $3,513,000. 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.