Calix (NYSE:CALX) Earns “Buy” Rating from Needham & Company LLC

Calix (NYSE:CALX)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $50.00 price target on the communications equipment provider’s stock. Needham & Company LLC’s price objective suggests a potential upside of 69.26% from the company’s current price.

A number of other brokerages also recently issued reports on CALX. Rosenblatt Securities reduced their price target on Calix from $45.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday. Roth Mkm restated a “buy” rating and set a $50.00 price target on shares of Calix in a report on Monday. Finally, StockNews.com upgraded Calix from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Calix has a consensus rating of “Moderate Buy” and an average target price of $44.25.

Calix Trading Up 0.9 %

NYSE CALX opened at $29.54 on Tuesday. Calix has a 1-year low of $28.95 and a 1-year high of $53.90. The stock has a 50-day moving average of $33.27 and a 200-day moving average of $37.62. The firm has a market cap of $1.93 billion, a PE ratio of 65.65 and a beta of 1.65.

Calix (NYSE:CALX) last released its earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. Calix had a return on equity of 7.92% and a net margin of 3.06%. The company had revenue of $264.73 million during the quarter, compared to analyst estimates of $264.41 million. During the same quarter in the previous year, the company posted $0.18 EPS. Calix’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, equities research analysts forecast that Calix will post 0.45 earnings per share for the current fiscal year.

Institutional Trading of Calix

Hedge funds and other institutional investors have recently made changes to their positions in the stock. TFO Wealth Partners LLC grew its stake in shares of Calix by 13,787.5% in 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. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Calix by 194.4% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,531 shares of the communications equipment provider’s stock worth $70,000 after buying an additional 1,011 shares during the last quarter. Assetmark Inc. grew its stake in shares of Calix by 31.9% in the 3rd quarter. Assetmark Inc. now owns 1,578 shares of the communications equipment provider’s stock worth $72,000 after buying an additional 382 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Calix by 18.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,232 shares of the communications equipment provider’s stock worth $98,000 after buying an additional 348 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Calix in the 3rd quarter worth approximately $111,000. 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.