Calix (NYSE:CALX) Shares Gap Up – Still a Buy?

Calix, Inc. (NYSE:CALX)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $36.87, but opened at $40.00. Calix shares last traded at $40.82, with a volume of 241,233 shares.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CALX shares. Needham & Company LLC restated a “buy” rating and issued a $45.00 price target on shares of Calix in a research report on Thursday. StockNews.com upgraded Calix from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Calix in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.50.

Calix Trading Up 12.9 %

The firm has a fifty day simple moving average of $35.48 and a 200-day simple moving average of $36.24. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of -173.56 and a beta of 1.68.

Calix (NYSE:CALX) last released its earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.31). Calix had a positive return on equity of 1.33% and a negative net margin of 1.79%. On average, equities analysts predict that Calix, Inc. will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Calix

Several hedge funds have recently modified their holdings of CALX. Congress Asset Management Co. grew its holdings in shares of Calix by 30.1% in the 3rd quarter. Congress Asset Management Co. now owns 1,565,471 shares of the communications equipment provider’s stock valued at $60,725,000 after acquiring an additional 361,805 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Calix by 200.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 344,514 shares of the communications equipment provider’s stock worth $13,364,000 after purchasing an additional 229,871 shares during the period. Rockefeller Capital Management L.P. grew its holdings in Calix by 34.8% during the third quarter. Rockefeller Capital Management L.P. now owns 410,463 shares of the communications equipment provider’s stock worth $15,921,000 after purchasing an additional 105,969 shares during the period. HighTower Advisors LLC bought a new position in Calix during the third quarter worth about $3,513,000. Finally, Millennium Management LLC grew its holdings in Calix by 75.6% during the second quarter. Millennium Management LLC now owns 179,801 shares of the communications equipment provider’s stock worth $6,370,000 after purchasing an additional 77,387 shares during the period. 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.