Analysts Set Calix, Inc. (NYSE:CALX) PT at $42.50

Calix, Inc. (NYSE:CALX) has earned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $42.50.

Several equities research analysts have recently weighed in on CALX shares. StockNews.com upgraded Calix from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Craig Hallum upped their target price on shares of Calix from $41.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Roth Mkm raised their price target on Calix from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price objective on shares of Calix in a report on Tuesday, September 10th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $45.00 price objective on shares of Calix in a report on Thursday, October 3rd.

Insider Buying and Selling

In other Calix news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $37.56, for a total value of $939,000.00. Following the transaction, the director now owns 3,723,381 shares in the company, valued at approximately $139,850,190.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.69% of the stock is owned by insiders.

Institutional Investors Weigh In On Calix

Institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP boosted its position in Calix by 10.5% during the 4th quarter. Wellington Management Group LLP now owns 1,755,497 shares of the communications equipment provider’s stock valued at $76,698,000 after acquiring an additional 166,695 shares in the last quarter. Vanguard Group Inc. lifted its position in Calix by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 6,422,915 shares of the communications equipment provider’s stock valued at $280,617,000 after buying an additional 58,069 shares during the period. Thompson Investment Management Inc. boosted its holdings in shares of Calix by 42.6% during the 1st quarter. Thompson Investment Management Inc. now owns 55,950 shares of the communications equipment provider’s stock valued at $1,855,000 after buying an additional 16,725 shares in the last quarter. Harbour Capital Advisors LLC grew its position in shares of Calix by 52.0% in the 1st quarter. Harbour Capital Advisors LLC now owns 10,450 shares of the communications equipment provider’s stock worth $335,000 after buying an additional 3,575 shares during the period. Finally, Congress Wealth Management LLC DE increased its stake in shares of Calix by 41.0% in the 1st quarter. Congress Wealth Management LLC DE now owns 175,807 shares of the communications equipment provider’s stock worth $5,830,000 after acquiring an additional 51,084 shares in the last quarter. 98.14% of the stock is owned by hedge funds and other institutional investors.

Calix Trading Down 1.7 %

CALX opened at $37.98 on Friday. Calix has a 12 month low of $26.76 and a 12 month high of $45.15. The company has a market cap of $2.49 billion, a PE ratio of 122.52 and a beta of 1.74. The company has a 50 day moving average of $37.42 and a 200 day moving average of $34.95.

Calix (NYSE:CALX) last posted its quarterly earnings results on Monday, July 22nd. The communications equipment provider reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The firm had revenue of $198.14 million during the quarter, compared to analyst estimates of $200.77 million. Calix had a return on equity of 4.17% and a net margin of 0.52%. The business’s revenue for the quarter was down 24.1% on a year-over-year basis. During the same period last year, the company earned $0.15 earnings per share. Research analysts forecast that Calix will post -0.36 earnings per share for the current fiscal year.

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.