Calix (NYSE:CALX) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Calix (NYSE:CALX) in a research note issued to investors on Monday, Benzinga reports. Needham & Company LLC currently has a $45.00 target price on the communications equipment provider’s stock.

A number of other brokerages also recently issued reports on CALX. Roth Mkm reiterated a buy rating and issued a $50.00 price target on shares of Calix in a report on Monday, April 22nd. Jefferies Financial Group cut Calix from a buy rating to a hold rating and lowered their price objective for the stock from $48.00 to $30.00 in a research report on Thursday, April 25th. StockNews.com cut Calix from a hold rating to a sell rating in a research report on Friday, May 10th. Craig Hallum lowered their price target on Calix from $48.00 to $41.00 and set a buy rating for the company in a research report on Wednesday, April 24th. Finally, Rosenblatt Securities decreased their price objective on Calix from $45.00 to $35.00 and set a buy rating for the company in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $40.50.

Calix Trading Up 3.5 %

Shares of Calix stock opened at $32.53 on Monday. The firm has a market cap of $2.13 billion, a PE ratio of 104.94 and a beta of 1.72. Calix has a 12 month low of $26.76 and a 12 month high of $53.90. The stock has a 50 day moving average of $31.06 and a 200 day moving average of $36.11.

Calix (NYSE:CALX) last issued its quarterly earnings results on Monday, April 22nd. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. Calix had a return on equity of 6.64% and a net margin of 2.19%. The firm had revenue of $226.31 million during the quarter, compared to analyst estimates of $228.01 million. As a group, equities research analysts forecast that Calix will post -0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. TFO Wealth Partners LLC boosted its position in shares of Calix by 13,787.5% during 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. Headlands Technologies LLC purchased a new position in Calix in the first quarter valued at $48,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Calix by 194.4% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,531 shares of the communications equipment provider’s stock valued at $70,000 after purchasing an additional 1,011 shares during the period. Quadrant Capital Group LLC boosted its holdings in Calix by 18.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,232 shares of the communications equipment provider’s stock valued at $98,000 after purchasing an additional 348 shares during the period. Finally, Assetmark Inc. boosted its holdings in Calix by 41.5% in the fourth quarter. Assetmark Inc. now owns 2,233 shares of the communications equipment provider’s stock valued at $98,000 after purchasing an additional 655 shares during the period. 98.14% of the stock is currently owned by hedge funds and other institutional investors.

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.