Needham & Company LLC Reaffirms Buy Rating for Calix (NYSE:CALX)

Calix (NYSE:CALX - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $45.00 price objective on the communications equipment provider's stock. Needham & Company LLC's target price indicates a potential upside of 19.24% from the stock's previous close.

A number of other analysts have also recently commented on CALX. Craig Hallum boosted their target price on shares of Calix from $41.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, July 24th. StockNews.com raised shares of Calix from a "sell" rating to a "hold" rating in a research note on Tuesday, October 8th. Rosenblatt Securities reaffirmed a "buy" rating and set a $45.00 price objective on shares of Calix in a research note on Thursday, October 3rd. JPMorgan Chase & Co. upped their price objective on shares of Calix from $28.00 to $41.00 and gave the company a "neutral" rating in a research note on Monday, July 22nd. Finally, Roth Mkm upped their price objective on shares of Calix from $43.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $42.50.

Calix Trading Down 4.4 %

Shares of Calix stock traded down $1.73 during trading hours on Tuesday, reaching $37.74. The stock had a trading volume of 998,099 shares, compared to its average volume of 733,225. The firm has a market capitalization of $2.48 billion, a PE ratio of -157.17 and a beta of 1.74. The stock's 50 day moving average is $37.51 and its 200 day moving average is $35.18. Calix has a twelve month low of $26.76 and a twelve month high of $45.15.

Calix (NYSE:CALX - Get Free Report) last released its earnings results on Monday, October 28th. The communications equipment provider reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.04. The business had revenue of $200.95 million during the quarter, compared to analysts' expectations of $201.06 million. Calix had a net margin of 0.52% and a return on equity of 4.17%. The company's quarterly revenue was down 23.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.25 earnings per share. As a group, sell-side analysts predict that Calix will post -0.36 earnings per share for the current year.

Insider Activity

In other news, Director Carl Russo sold 25,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $37.56, for a total value of $939,000.00. Following the completion of the sale, the director now owns 3,723,381 shares of the company's stock, valued at $139,850,190.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 17.04% of the company's stock.

Hedge Funds Weigh In On Calix

Large investors have recently made changes to their positions in the stock. Quantbot Technologies LP acquired a new position in shares of Calix in the 1st quarter worth approximately $1,145,000. Epoch Investment Partners Inc. lifted its holdings in Calix by 23.3% during the 1st quarter. Epoch Investment Partners Inc. now owns 1,164,049 shares of the communications equipment provider's stock worth $38,600,000 after buying an additional 219,699 shares in the last quarter. Koshinski Asset Management Inc. acquired a new stake in Calix during the 1st quarter worth approximately $669,000. FORA Capital LLC acquired a new stake in Calix during the 1st quarter worth approximately $724,000. Finally, Vanguard Group Inc. lifted its holdings in Calix by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 7,323,628 shares of the communications equipment provider's stock worth $242,852,000 after buying an additional 900,713 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.