Calix (NYSE:CALX) Stock Rating Reaffirmed by Needham & Company LLC

Calix (NYSE:CALX)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a report released on Tuesday, Benzinga reports. They presently have a $50.00 price objective on the communications equipment provider’s stock. Needham & Company LLC’s target price would suggest a potential upside of 76.99% from the stock’s previous close.

CALX has been the subject of several other reports. Roth Mkm restated a “buy” rating and set a $50.00 price target on shares of Calix in a report on Monday. StockNews.com upgraded shares of Calix from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. Finally, Rosenblatt Securities decreased their price target on shares of Calix from $45.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Calix presently has an average rating of “Moderate Buy” and a consensus target price of $43.60.

Calix Trading Up 0.8 %

Calix stock opened at $28.25 on Tuesday. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 91.13 and a beta of 1.65. The company’s 50-day moving average price is $33.04 and its two-hundred day moving average price is $37.45. Calix has a 52 week low of $26.76 and a 52 week high of $53.90.

Calix (NYSE:CALX) last announced its quarterly earnings data on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.07. The company had revenue of $264.73 million for the quarter, compared to analysts’ expectations of $264.41 million. Calix had a net margin of 2.19% and a return on equity of 6.65%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS. Research analysts expect that Calix will post 0.45 earnings per share for the current fiscal year.

Institutional Trading of Calix

A number of institutional investors have recently added to or reduced their stakes in CALX. SG Americas Securities LLC lifted its stake in shares of Calix by 114.1% in the third quarter. SG Americas Securities LLC now owns 22,643 shares of the communications equipment provider’s stock worth $1,038,000 after buying an additional 12,066 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in Calix by 3.5% during the third quarter. Harbor Capital Advisors Inc. now owns 11,529 shares of the communications equipment provider’s stock worth $528,000 after acquiring an additional 394 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Calix by 12.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,663 shares of the communications equipment provider’s stock worth $535,000 after acquiring an additional 1,303 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Calix by 9.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 371,316 shares of the communications equipment provider’s stock worth $17,021,000 after acquiring an additional 31,912 shares during the period. Finally, Inspire Investing LLC increased its position in Calix by 5.5% during the third quarter. Inspire Investing LLC now owns 6,628 shares of the communications equipment provider’s stock worth $304,000 after acquiring an additional 348 shares during the period. 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.