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

Calix (NYSE:CALX)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a note issued to investors on Tuesday, Benzinga reports. They presently have a $45.00 price target on the communications equipment provider’s stock. Needham & Company LLC’s target price would indicate a potential upside of 27.99% from the company’s previous close.

Several other research firms have also recently commented on CALX. Rosenblatt Securities raised their price target on Calix from $35.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com raised Calix from a “sell” rating to a “hold” rating in a report on Tuesday, August 20th. Craig Hallum raised their price target on Calix from $41.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Roth Mkm lifted their price objective on Calix from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.50.

Calix Trading Up 1.2 %

Calix stock opened at $35.16 on Tuesday. Calix has a twelve month low of $26.76 and a twelve month high of $47.15. The stock has a 50 day moving average of $36.57 and a two-hundred day moving average of $34.21. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 113.42 and a beta of 1.74.

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

Insider Buying and Selling

In other Calix news, Director Carl Russo sold 25,000 shares of the firm’s stock in a transaction on 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 owns 3,723,381 shares of the company’s stock, valued at $139,850,190.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 16.69% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Calix

Several hedge funds have recently bought and sold shares of the stock. TD Asset Management Inc grew its position in shares of Calix by 516.6% in the fourth quarter. TD Asset Management Inc now owns 1,610,885 shares of the communications equipment provider’s stock valued at $70,380,000 after purchasing an additional 1,349,625 shares during the period. Vanguard Group Inc. grew its position in shares of Calix by 14.0% in the first quarter. Vanguard Group Inc. now owns 7,323,628 shares of the communications equipment provider’s stock valued at $242,852,000 after purchasing an additional 900,713 shares during the period. Epoch Investment Partners Inc. grew its position in shares of 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 during the period. Norges Bank purchased a new stake in shares of Calix in the fourth quarter valued at $26,483,000. Finally, Divisar Capital Management LLC purchased a new stake in shares of Calix in the second quarter valued at $15,876,000. Hedge funds and other institutional investors own 98.14% of the company’s stock.

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.