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

Calix, Inc. (NYSE:CALX) has been given an average recommendation of “Moderate Buy” by the six research firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $42.50.

Several analysts recently weighed in on CALX shares. Rosenblatt Securities reissued a “buy” rating and set a $45.00 price target on shares of Calix in a 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. Finally, Needham & Company LLC restated a “buy” rating and set a $45.00 price objective on shares of Calix in a research note on Tuesday, October 29th.

Hedge Funds Weigh In On Calix

Several hedge funds and other institutional investors have recently modified their holdings of CALX. Divisar Capital Management LLC bought a new position in shares of Calix in the 2nd quarter valued at $15,876,000. Congress Asset Management Co. increased its stake in shares of Calix by 30.1% in the 3rd quarter. Congress Asset Management Co. now owns 1,565,471 shares of the communications equipment provider’s stock valued at $60,725,000 after purchasing an additional 361,805 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Calix by 200.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 344,514 shares of the communications equipment provider’s stock valued at $13,364,000 after purchasing an additional 229,871 shares during the last quarter. Squarepoint Ops LLC increased its stake in shares of Calix by 82.7% in the 2nd quarter. Squarepoint Ops LLC now owns 300,346 shares of the communications equipment provider’s stock valued at $10,641,000 after purchasing an additional 135,916 shares during the last quarter. Finally, Paradigm Capital Management Inc. NY increased its stake in shares of Calix by 9.5% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,336,900 shares of the communications equipment provider’s stock valued at $47,366,000 after purchasing an additional 115,500 shares during the last quarter. Institutional investors own 98.14% of the company’s stock.

Calix Trading Up 1.4 %

NYSE:CALX opened at $35.27 on Monday. The stock has a market cap of $2.34 billion, a P/E ratio of -146.96 and a beta of 1.70. The stock has a 50 day simple moving average of $35.04 and a 200 day simple moving average of $35.89. Calix has a 1-year low of $26.76 and a 1-year high of $45.15.

Calix (NYSE:CALX) last released its quarterly earnings results on Monday, October 28th. The communications equipment provider reported $0.13 earnings per share for the quarter, topping the consensus estimate 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 positive return on equity of 1.33% and a negative net margin of 1.79%. The firm’s revenue for the quarter was down 23.8% compared to the same quarter last year. During the same period last year, the firm posted $0.25 EPS. As a group, sell-side analysts forecast that Calix will post -0.34 EPS for the current 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.