Calix Inc (CALX) Upgraded at Zacks Investment Research
Calix Inc (NYSE:CALX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Calix is a global leader in access innovation. Its Unified Access portfolio of broadband communications access systems and software enables communications service providers worldwide to transform their networks and become the broadband provider of choice to their subscribers. “
CALX has been the topic of several other research reports. Jefferies Group LLC restated a “hold” rating and issued a $7.00 target price on shares of Calix in a report on Thursday, March 23rd. Northland Securities cut shares of Calix from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $9.00 to $7.00 in a report on Wednesday, February 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $7.67.
Shares of Calix (NYSE:CALX) traded up 1.53% during midday trading on Tuesday, reaching $6.65. 110,517 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $6.87 and a 200-day moving average of $7.13. The stock’s market cap is $329.77 million. Calix has a one year low of $6.15 and a one year high of $8.20.
Calix (NYSE:CALX) last posted its quarterly earnings results on Tuesday, February 14th. The communications equipment provider reported ($0.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.13. Calix had a negative net margin of 5.89% and a negative return on equity of 7.01%. The firm had revenue of $131.80 million for the quarter, compared to analysts’ expectations of $129.35 million. During the same quarter in the previous year, the company earned ($0.03) EPS. The company’s quarterly revenue was up 25.5% compared to the same quarter last year. On average, equities research analysts anticipate that Calix will post ($0.21) earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its position in Calix by 5.2% in the fourth quarter. Renaissance Technologies LLC now owns 2,368,200 shares of the communications equipment provider’s stock valued at $18,235,000 after buying an additional 117,000 shares during the last quarter. Alyeska Investment Group L.P. increased its stake in shares of Calix by 0.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,674,700 shares of the communications equipment provider’s stock valued at $20,595,000 after buying an additional 21,173 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Calix by 30.4% in the third quarter. Wells Fargo & Company MN now owns 14,504 shares of the communications equipment provider’s stock valued at $107,000 after buying an additional 3,382 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Calix during the fourth quarter valued at approximately $794,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Calix by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,038,526 shares of the communications equipment provider’s stock valued at $23,397,000 after buying an additional 154,050 shares during the last quarter. Institutional investors and hedge funds own 66.00% of the company’s stock.
Calix, Inc is a provider of 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 a range of revenue-generating services, from basic voice and data to advanced broadband services, over legacy and next-generation access networks.
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