Calix (NYSE:CALX) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Calix (NYSE:CALX - Free Report) in a report released on Thursday,Benzinga reports. Needham & Company LLC currently has a $45.00 target price on the communications equipment provider's stock.

Several other equities analysts have also recently issued reports on CALX. Rosenblatt Securities reiterated a "buy" rating and set a $45.00 price target on shares of Calix in a research report on Thursday, October 3rd. StockNews.com upgraded 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 company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $43.17.

Calix Stock Performance

Shares of NYSE:CALX traded down $0.13 during trading hours on Thursday, hitting $39.55. The stock had a trading volume of 1,127,238 shares, compared to its average volume of 644,297. The stock's fifty day simple moving average is $35.89 and its 200 day simple moving average is $36.32. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of -87.88 and a beta of 1.68. Calix has a 1-year low of $26.76 and a 1-year high of $41.97.

Calix (NYSE:CALX - Get Free Report) last announced its earnings results 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 net margin of 3.58% and a negative return on equity of 3.43%. As a group, research analysts anticipate that Calix will post -0.34 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CALX. GAMMA Investing LLC boosted its stake in Calix by 187.9% in the third quarter. GAMMA Investing LLC now owns 668 shares of the communications equipment provider's stock valued at $26,000 after buying an additional 436 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Calix during the 3rd quarter worth approximately $34,000. Arcadia Investment Management Corp MI bought a new position in Calix in the 3rd quarter valued at approximately $39,000. Avior Wealth Management LLC grew its stake in shares of Calix by 998.1% during the third quarter. Avior Wealth Management LLC now owns 1,186 shares of the communications equipment provider's stock worth $46,000 after buying an additional 1,078 shares during the last quarter. Finally, Hexagon Capital Partners LLC increased its holdings in shares of Calix by 29.8% during the third quarter. Hexagon Capital Partners LLC now owns 1,385 shares of the communications equipment provider's stock worth $54,000 after buying an additional 318 shares in the last quarter. 98.14% of the stock is currently owned by institutional investors and hedge funds.

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.