Calix (NYSE:CALX) Lifted to “Hold” at StockNews.com

StockNews.com upgraded shares of Calix (NYSE:CALX) from a sell rating to a hold rating in a report released on Friday.

A number of other equities analysts have also recently weighed in on CALX. Roth Mkm increased their price objective on shares of Calix from $43.00 to $44.00 and gave the stock a buy rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. raised their price target on Calix from $28.00 to $41.00 and gave the stock a neutral rating in a research report on Monday, July 22nd. Rosenblatt Securities lifted their price objective on Calix from $35.00 to $45.00 and gave the company a buy rating in a research note on Wednesday, July 24th. Needham & Company LLC reissued a buy rating and set a $45.00 target price on shares of Calix in a research note on Tuesday, September 10th. Finally, Craig Hallum raised their target price on Calix from $41.00 to $50.00 and gave the company a buy rating in a report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $42.50.

Calix Stock Down 0.6 %

CALX stock opened at $38.48 on Friday. Calix has a 52-week low of $26.76 and a 52-week high of $47.15. The business has a fifty day moving average of $37.20 and a two-hundred day moving average of $34.39. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 124.13 and a beta of 1.74.

Calix (NYSE:CALX) last issued its quarterly earnings data on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.03. The firm had revenue of $198.14 million for the quarter, compared to analyst estimates of $200.77 million. Calix had a net margin of 0.52% and a return on equity of 4.17%. Calix’s revenue was down 24.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.15 EPS. As a group, sell-side analysts anticipate that Calix will post -0.36 EPS for the current year.

Insider Buying and Selling at Calix

In other news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $37.56, for a total transaction of $939,000.00. Following the completion of the transaction, the director now directly owns 3,723,381 shares of the company’s stock, valued at $139,850,190.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. 16.69% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Calix

A number of institutional investors and hedge funds have recently modified their holdings of CALX. TD Asset Management Inc boosted its position in shares of Calix by 516.6% during the 4th quarter. TD Asset Management Inc now owns 1,610,885 shares of the communications equipment provider’s stock worth $70,380,000 after acquiring an additional 1,349,625 shares in the last quarter. Vanguard Group Inc. lifted its stake in Calix by 14.0% during the first quarter. Vanguard Group Inc. now owns 7,323,628 shares of the communications equipment provider’s stock worth $242,852,000 after purchasing an additional 900,713 shares during the last quarter. Epoch Investment Partners Inc. boosted its holdings in Calix by 213.8% in the fourth quarter. Epoch Investment Partners Inc. now owns 944,350 shares of the communications equipment provider’s stock valued at $41,259,000 after purchasing an additional 643,392 shares in the last quarter. Norges Bank purchased a new position in Calix in the fourth quarter valued at approximately $26,483,000. Finally, Divisar Capital Management LLC acquired a new stake in Calix during the second quarter worth approximately $15,876,000. Institutional investors and hedge funds 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.