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

Needham & Company LLC restated their buy rating on shares of Calix (NYSE:CALX) in a research report released on Tuesday, Benzinga reports. They currently have a $45.00 target price on the communications equipment provider’s stock.

A number of other equities research analysts have also issued reports on CALX. Rosenblatt Securities upped their target price on shares of Calix from $35.00 to $45.00 and gave the company a buy rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price objective on shares of Calix from $28.00 to $41.00 and gave the company a neutral rating in a research report on Monday, July 22nd. Roth Mkm boosted their price objective on shares of Calix from $43.00 to $44.00 and gave the company a buy rating in a research report on Tuesday, July 23rd. Jefferies Financial Group downgraded shares of Calix from a buy rating to a hold rating and lowered their price objective for the company from $48.00 to $30.00 in a research report on Thursday, April 25th. Finally, Craig Hallum boosted their price objective on shares of Calix from $41.00 to $50.00 and gave the company a buy rating in a research report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $42.50.

Calix Stock Performance

Shares of Calix stock opened at $37.52 on Tuesday. The firm has a market cap of $2.46 billion, a PE ratio of 120.19 and a beta of 1.76. The firm’s 50-day simple moving average is $36.17 and its 200-day simple moving average is $33.98. Calix has a 1 year low of $26.76 and a 1 year high of $48.53.

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

Insiders Place Their Bets

In other Calix news, Director Carl Russo sold 25,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 3,723,381 shares in the company, valued at approximately $139,850,190.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 16.69% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Calix by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 7,323,628 shares of the communications equipment provider’s stock worth $242,852,000 after purchasing an additional 900,713 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Calix by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,793,545 shares of the communications equipment provider’s stock valued at $63,546,000 after acquiring an additional 45,656 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Calix by 10.5% in 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. TD Asset Management Inc boosted its holdings in shares of Calix by 516.6% in the fourth quarter. TD Asset Management Inc now owns 1,610,885 shares of the communications equipment provider’s stock valued at $70,380,000 after acquiring an additional 1,349,625 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY boosted its holdings 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 valued at $47,366,000 after acquiring an additional 115,500 shares in the last quarter. Institutional investors own 98.14% of the company’s stock.

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.