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

Calix (NYSE:CALX)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a research report issued on Wednesday, Benzinga reports. They presently have a $50.00 target price on the communications equipment provider’s stock. Needham & Company LLC’s price objective suggests a potential upside of 69.84% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. StockNews.com raised shares of Calix from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. Rosenblatt Securities decreased their price objective on shares of Calix from $57.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, January 30th. Two equities research 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, the company has a consensus rating of “Moderate Buy” and an average target price of $54.60.

Calix Stock Performance

Shares of Calix stock opened at $29.44 on Wednesday. The company has a market capitalization of $1.93 billion, a PE ratio of 65.42 and a beta of 1.65. The company has a 50-day simple moving average of $33.48 and a two-hundred day simple moving average of $37.92. Calix has a one year low of $28.95 and a one year high of $53.90.

Calix (NYSE:CALX) last announced its earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. The business had revenue of $264.73 million during the quarter, compared to the consensus estimate of $264.41 million. Calix had a net margin of 3.06% and a return on equity of 7.92%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 earnings per share. On average, equities analysts predict that Calix will post 0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Calix

Hedge funds and other institutional investors have recently bought and sold shares of the business. Coppell Advisory Solutions Corp. acquired a new position in Calix in the 4th quarter worth approximately $45,000. Altshuler Shaham Ltd acquired a new position in Calix in the 4th quarter worth approximately $54,000. Captrust Financial Advisors increased its holdings in Calix by 31.7% in the 2nd quarter. Captrust Financial Advisors now owns 847 shares of the communications equipment provider’s stock worth $29,000 after buying an additional 204 shares during the period. Natixis acquired a new position in Calix in the 4th quarter worth approximately $60,000. Finally, Quarry LP increased its holdings in Calix by 483.2% in the 1st quarter. Quarry LP now owns 974 shares of the communications equipment provider’s stock worth $52,000 after buying an additional 807 shares during the period. Institutional investors and hedge funds 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.