Calix (NYSE:CALX) Earns “Buy” Rating from Rosenblatt Securities

by · The Cerbat Gem

Rosenblatt Securities reiterated their buy rating on shares of Calix (NYSE:CALX – Free Report) in a research report report published on Thursday morning, Benzinga reports. Rosenblatt Securities currently has a $45.00 price target on the communications equipment provider’s stock.

Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. boosted their price target on Calix from $28.00 to $41.00 and gave the company a neutral rating in a research note on Monday, July 22nd. Needham & Company LLC reissued a buy rating and issued a $45.00 target price on shares of Calix in a report on Tuesday, September 10th. StockNews.com raised Calix from a sell rating to a hold rating in a report on Friday, September 27th. Roth Mkm boosted their target price on Calix from $43.00 to $44.00 and gave the stock a buy rating in a report on Tuesday, July 23rd. Finally, Craig Hallum boosted their target price on Calix from $41.00 to $50.00 and gave the stock a buy rating in a report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Calix presently has an average rating of Moderate Buy and an average target price of $42.50.

Read Our Latest Report on CALX

Calix Price Performance

NYSE CALX opened at $37.73 on Thursday. Calix has a fifty-two week low of $26.76 and a fifty-two week high of $46.29. The stock’s 50-day moving average is $37.43 and its two-hundred day moving average is $34.53. The firm has a market cap of $2.47 billion, a P/E ratio of 121.71 and a beta of 1.74.

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

Insider Buying and Selling at Calix

In related news, Director Carl Russo sold 25,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $37.56, for a total value 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 16.69% of the company’s stock.

Hedge Funds Weigh In On Calix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TFO Wealth Partners LLC boosted its stake in shares of Calix by 13,787.5% during the 4th 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 last quarter. Epoch Investment Partners Inc. boosted its stake in shares of Calix by 213.8% during the 4th quarter. Epoch Investment Partners Inc. now owns 944,350 shares of the communications equipment provider’s stock worth $41,259,000 after buying an additional 643,392 shares during the last quarter. Seven Eight Capital LP boosted its stake in shares of Calix by 18.9% during the 4th quarter. Seven Eight Capital LP now owns 18,312 shares of the communications equipment provider’s stock worth $800,000 after buying an additional 2,910 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in Calix by 28.6% in the 4th quarter. Neuberger Berman Group LLC now owns 167,851 shares of the communications equipment provider’s stock valued at $7,333,000 after purchasing an additional 37,333 shares during the last quarter. Finally, Congress Asset Management Co. MA lifted its stake in Calix by 9.6% in the 4th quarter. Congress Asset Management Co. MA now owns 875,687 shares of the communications equipment provider’s stock valued at $38,259,000 after purchasing an additional 76,546 shares during the last quarter. 98.14% of the stock is owned by institutional investors and hedge funds.

Calix Company Profile

(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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