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

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

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

Calix Trading Up 1.4 %

Shares of CALX opened at $37.73 on Thursday. The firm’s 50 day moving average is $37.43 and its 200-day moving average is $34.53. The stock has a market capitalization of $2.47 billion, a PE ratio of 121.71 and a beta of 1.74. Calix has a 12 month low of $26.76 and a 12 month high of $46.29.

Calix (NYSE:CALX) last announced its quarterly earnings data 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 analysts’ expectations of $200.77 million. Calix had a net margin of 0.52% and a return on equity of 4.17%. The firm’s quarterly revenue was down 24.1% compared to the same quarter last year. During the same period last year, the firm posted $0.15 earnings per share. Equities research analysts predict that Calix will post -0.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Carl Russo sold 25,000 shares of the firm’s stock in a transaction that occurred 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.69% of the stock is owned by insiders.

Institutional Trading of Calix

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake 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 in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Calix by 2.6% during 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 in the last quarter. Wellington Management Group LLP raised its position in shares of Calix by 10.5% during the 4th quarter. Wellington Management Group LLP now owns 1,755,497 shares of the communications equipment provider’s stock valued at $76,698,000 after buying an additional 166,695 shares in the last quarter. Paradigm Capital Management Inc. NY raised its position in shares of Calix by 9.5% during the 2nd 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 buying an additional 115,500 shares in the last quarter. Finally, Epoch Investment Partners Inc. raised its position in shares of 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 buying an additional 219,699 shares in the last quarter. 98.14% of the stock is currently owned by hedge funds and other institutional investors.

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.