Calix (NYSE:CALX) Rating Increased to Hold at StockNews.com

Calix (NYSE:CALX) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.

A number of other research firms 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. Craig Hallum lifted their price objective on Calix from $41.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Rosenblatt Securities lifted their target price on Calix from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Needham & Company LLC reissued a “buy” rating and set a $45.00 price target on shares of Calix in a research report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Calix has an average rating of “Moderate Buy” and a consensus target price of $42.50.

Calix Trading Down 0.6 %

CALX stock traded down $0.23 during trading on Friday, reaching $38.48. 355,737 shares of the stock were exchanged, compared to its average volume of 772,347. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 124.13 and a beta of 1.74. The business has a 50 day moving average price of $37.20 and a 200-day moving average price of $34.39. Calix has a 1 year low of $26.76 and a 1 year high of $47.15.

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

Insiders Place Their Bets

In other news, Director Carl Russo sold 25,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $37.56, for a total transaction of $939,000.00. Following the completion of the sale, the director now owns 3,723,381 shares in the company, valued at $139,850,190.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 16.69% of the company’s stock.

Institutional Investors Weigh In On Calix

A number of hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Calix during the 4th quarter worth $26,483,000. Assetmark Inc. increased its stake in Calix by 41.5% during the fourth quarter. Assetmark Inc. now owns 2,233 shares of the communications equipment provider’s stock worth $98,000 after acquiring an additional 655 shares during the last quarter. TD Asset Management Inc raised its holdings in 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 buying an additional 1,349,625 shares during the period. TFO Wealth Partners LLC boosted its position in shares of Calix by 13,787.5% in the fourth quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock worth $49,000 after buying an additional 1,103 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Calix in the 4th quarter worth $1,829,000. Institutional investors and hedge funds 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.