Calix’s (CALX) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Calix (NYSE:CALX) in a research report released on Monday morning, Benzinga reports. The brokerage currently has a $45.00 price objective on the communications equipment provider’s stock.

Several other equities analysts have also recently issued reports on CALX. StockNews.com cut Calix from a hold rating to a sell rating in a report on Friday, May 10th. Craig Hallum decreased their price target on Calix from $48.00 to $41.00 and set a buy rating for the company in a report on Wednesday, April 24th. Rosenblatt Securities dropped their price objective on shares of Calix from $45.00 to $35.00 and set a buy rating on the stock in a research note on Tuesday, April 23rd. Jefferies Financial Group lowered shares of Calix from a buy rating to a hold rating and cut their target price for the company from $48.00 to $30.00 in a report on Thursday, April 25th. Finally, Roth Mkm reissued a buy rating and set a $50.00 price target on shares of Calix in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $40.50.

Calix Stock Up 0.4 %

Shares of NYSE CALX opened at $32.65 on Monday. Calix has a 52 week low of $26.76 and a 52 week high of $53.90. The business’s 50 day moving average price is $31.04 and its 200 day moving average price is $36.09. The firm has a market cap of $2.14 billion, a P/E ratio of 105.32 and a beta of 1.72.

Calix (NYSE:CALX) last released its quarterly earnings data on Monday, April 22nd. The communications equipment provider reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. Calix had a net margin of 2.19% and a return on equity of 6.64%. The business had revenue of $226.31 million for the quarter, compared to the consensus estimate of $228.01 million. As a group, research analysts expect that Calix will post -0.22 earnings per share for the current year.

Institutional Investors Weigh In On Calix

Institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC purchased a new position in Calix during the first quarter valued at $48,000. TFO Wealth Partners LLC lifted its stake in Calix by 13,787.5% in the 4th quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock valued at $49,000 after buying an additional 1,103 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Calix by 194.4% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,531 shares of the communications equipment provider’s stock worth $70,000 after buying an additional 1,011 shares during the last quarter. Quadrant Capital Group LLC increased its stake in Calix by 18.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,232 shares of the communications equipment provider’s stock worth $98,000 after buying an additional 348 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Calix by 41.5% during the fourth quarter. Assetmark Inc. now owns 2,233 shares of the communications equipment provider’s stock valued at $98,000 after acquiring an additional 655 shares during the last quarter. Institutional investors and hedge funds own 98.14% of the company’s stock.

About Calix

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.