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

by · The Cerbat Gem

Calix (NYSE:CALX – Get Free Report) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Tuesday.

A number of other analysts also recently weighed in on CALX. Craig Hallum lifted their price target 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 reaffirmed a “buy” rating and set a $45.00 price target on shares of Calix in a research note on Thursday, October 3rd. JPMorgan Chase & Co. increased their price target on shares of Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Needham & Company LLC reissued a “buy” rating and set a $45.00 price objective on shares of Calix in a report on Tuesday, September 10th. Finally, Roth Mkm increased their target price on shares of Calix from $43.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Calix presently has an average rating of “Moderate Buy” and an average price target of $42.50.

View Our Latest Stock Analysis on CALX

Calix Price Performance

NYSE:CALX opened at $37.20 on Tuesday. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 120.00 and a beta of 1.74. The firm’s fifty day moving average price is $37.22 and its 200 day moving average price is $34.60. Calix has a 1-year low of $26.76 and a 1-year high of $46.29.

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

Insider Activity at Calix

In related news, Director Carl Russo sold 25,000 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $37.56, for a total value of $939,000.00. Following the transaction, the director now directly owns 3,723,381 shares of the company’s stock, valued at approximately $139,850,190.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 16.69% of the stock is owned by insiders.

Institutional Trading of Calix

A number of institutional investors have recently added to or reduced their stakes in CALX. Vanguard Group Inc. grew its stake 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 buying an additional 900,713 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Calix by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,793,545 shares of the communications equipment provider’s stock valued at $63,546,000 after buying an additional 45,656 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Calix by 10.5% during the fourth 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. Paradigm Capital Management Inc. NY lifted its stake in shares of Calix by 9.5% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,336,900 shares of the communications equipment provider’s stock worth $47,366,000 after acquiring an additional 115,500 shares in the last quarter. Finally, Epoch Investment Partners Inc. grew its stake in Calix by 23.3% during 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 in the last quarter. 98.14% of the stock is owned by hedge funds and other institutional investors.

About Calix

(Get Free Report)

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.

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