Calix (NYSE:CALX) Shares Up 3.8% – Time to Buy?

Calix, Inc. (NYSE:CALX)’s stock price rose 3.8% during mid-day trading on Tuesday . The stock traded as high as $34.57 and last traded at $34.67. Approximately 289,233 shares were traded during trading, a decline of 54% from the average daily volume of 633,470 shares. The stock had previously closed at $33.39.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 target price on shares of Calix in a research note on Thursday, January 30th. JPMorgan Chase & Co. raised their price objective on Calix from $38.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $43.17.

Calix Stock Performance

The firm has a 50 day moving average price of $37.58 and a two-hundred day moving average price of $36.31. The company has a market capitalization of $2.30 billion, a P/E ratio of -76.59 and a beta of 1.78.

Calix (NYSE:CALX) last announced its quarterly earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.31). Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. On average, equities analysts expect that Calix, Inc. will post -0.43 earnings per share for the current year.

Insider Activity at Calix

In other news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $38.15, for a total value of $953,750.00. Following the completion of the sale, the director now directly owns 2,164,188 shares of the company’s stock, valued at approximately $82,563,772.20. This trade represents a 1.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 16.69% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Millennium Management LLC raised its stake in shares of Calix by 77.8% during the fourth quarter. Millennium Management LLC now owns 2,031,212 shares of the communications equipment provider’s stock worth $70,828,000 after buying an additional 889,102 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Calix by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 7,977,769 shares of the communications equipment provider’s stock valued at $278,185,000 after acquiring an additional 412,982 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in shares of Calix by 711.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 436,036 shares of the communications equipment provider’s stock valued at $15,205,000 after purchasing an additional 382,301 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in Calix by 105.7% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 708,723 shares of the communications equipment provider’s stock valued at $24,713,000 after purchasing an additional 364,209 shares during the last quarter. Finally, Norges Bank acquired a new position in Calix in the fourth quarter valued at about $11,518,000. 98.14% of the stock is currently owned by institutional investors and hedge funds.

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.