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

Calix (NYSE:CALX)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research note issued on Tuesday, Benzinga reports. They currently have a $45.00 target price on the communications equipment provider’s stock. Needham & Company LLC’s target price points to a potential upside of 24.14% from the company’s current price.

A number of other research analysts have also commented on the company. Roth Mkm upped their target price on Calix from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Rosenblatt Securities restated a “buy” rating and issued a $45.00 price objective on shares of Calix in a research note on Thursday, October 3rd. Craig Hallum raised their price objective on shares of Calix from $41.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. StockNews.com raised shares of Calix from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Calix currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Calix Stock Performance

NYSE:CALX opened at $36.25 on Tuesday. The firm’s 50-day moving average is $37.49 and its 200-day moving average is $35.24. Calix has a 52-week low of $26.76 and a 52-week high of $45.15. The company has a market cap of $2.39 billion, a price-to-earnings ratio of -151.04 and a beta of 1.74.

Calix (NYSE:CALX) last issued its quarterly earnings results on Monday, October 28th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.04. The firm had revenue of $200.95 million for the quarter, compared to analyst estimates of $201.06 million. Calix had a return on equity of 4.17% and a net margin of 0.52%. The company’s quarterly revenue was down 23.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 earnings per share. Equities analysts predict 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 company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $37.56, for a total transaction of $939,000.00. Following the transaction, the director now directly owns 3,723,381 shares in the company, valued at approximately $139,850,190.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 17.04% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CALX. Quantbot Technologies LP acquired a new position in Calix in the first quarter valued at approximately $1,145,000. Epoch Investment Partners Inc. lifted its stake in shares of Calix by 23.3% in the 1st quarter. Epoch Investment Partners Inc. now owns 1,164,049 shares of the communications equipment provider’s stock valued at $38,600,000 after purchasing an additional 219,699 shares during the period. Koshinski Asset Management Inc. bought a new position in shares of Calix in the 1st quarter worth $669,000. FORA Capital LLC acquired a new stake in shares of Calix during the first quarter worth $724,000. Finally, Vanguard Group Inc. increased its holdings in 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 last quarter. 98.14% of the stock is currently owned by institutional investors and hedge funds.

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.