Calix, Inc (NYSE:CALX) Given Hold Rating at Jefferies Group LLC

Calix, Inc (NYSE:CALX)‘s stock had its “hold” rating reiterated by stock analysts at Jefferies Group LLC in a research note issued on Friday, October 6th. They currently have a $7.00 target price on the communications equipment provider’s stock. Jefferies Group LLC’s price objective would indicate a potential upside of 22.81% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Calix from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Northland Securities set a $7.00 price target on shares of Calix and gave the stock a “hold” rating in a research note on Monday, August 7th. BidaskClub cut shares of Calix from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, ValuEngine raised shares of Calix from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Calix presently has a consensus rating of “Hold” and an average target price of $6.50.

Shares of Calix (NYSE:CALX) opened at 5.70 on Friday. Calix has a one year low of $4.65 and a one year high of $8.10. The firm’s market cap is $286.75 million. The firm has a 50 day moving average price of $5.06 and a 200-day moving average price of $6.20.

Calix (NYSE:CALX) last issued its quarterly earnings data on Tuesday, August 8th. The communications equipment provider reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.15). Calix had a negative return on equity of 30.33% and a negative net margin of 12.72%. The business had revenue of $126.12 million during the quarter, compared to analysts’ expectations of $123.70 million. During the same period in the previous year, the business earned ($0.04) earnings per share. The business’s quarterly revenue was up 17.4% on a year-over-year basis. Analysts forecast that Calix will post ($1.21) earnings per share for the current year.

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A number of institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its position in Calix by 11.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 37,558 shares of the communications equipment provider’s stock valued at $257,000 after buying an additional 3,961 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Calix by 11.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 380,975 shares of the communications equipment provider’s stock valued at $2,610,000 after buying an additional 38,168 shares during the period. State Street Corp boosted its position in Calix by 7.9% in the 2nd quarter. State Street Corp now owns 791,110 shares of the communications equipment provider’s stock valued at $5,421,000 after buying an additional 57,658 shares during the period. Divisar Capital Management LLC boosted its position in Calix by 479.1% in the 2nd quarter. Divisar Capital Management LLC now owns 1,073,236 shares of the communications equipment provider’s stock valued at $7,352,000 after buying an additional 887,915 shares during the period. Finally, Voya Investment Management LLC boosted its position in Calix by 15.5% in the 2nd quarter. Voya Investment Management LLC now owns 27,603 shares of the communications equipment provider’s stock valued at $189,000 after buying an additional 3,696 shares during the period. 64.47% of the stock is owned by institutional investors.

About Calix

Calix, Inc provides broadband communications access systems and software for fiber- and copper-based network architectures that enable communications service providers (CSPs), to transform their networks and connect to their residential and business subscribers. The Company enables CSPs to provide various services, from basic voice and data to advanced broadband services, over legacy and next-generation access networks.

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