Calix (NYSE:CALX) Stock Rating Raised to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Calix (NYSE:CALX) from a buy rating to a strong-buy rating in a research note released on Saturday,Wall Street Zen reports.

A number of other brokerages have also commented on CALX. Roth Capital reiterated a “buy” rating on shares of Calix in a research report on Tuesday, July 21st. Northland Securities upgraded Calix from a “market perform” rating to an “outperform” rating and set a $52.00 target price for the company in a research report on Tuesday, July 21st. Weiss Ratings lowered Calix from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, October 26th. Rosenblatt Securities decreased their price target on Calix from $70.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, July 21st. Finally, Zacks Research upgraded Calix from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $57.40.

Calix Price Performance

CALX stock opened at $36.75 on Friday. The company has a 50 day moving average price of $36.20 and a 200 day moving average price of $42.66. Calix has a fifty-two week low of $32.35 and a fifty-two week high of $71.22. The stock has a market capitalization of $2.31 billion, a PE ratio of 49.66 and a beta of 1.32.

Hedge Funds Weigh In On Calix

A number of hedge funds and other institutional investors have recently bought and sold shares of CALX. Harbor Investment Advisory LLC bought a new stake in Calix in the second quarter valued at about $31,000. Pinnacle Wealth Planning Services Inc. lifted its stake in Calix by 254.0% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 878 shares of the communications equipment provider’s stock valued at $30,000 after buying an additional 630 shares during the period. Covestor Ltd boosted its holdings in Calix by 85.4% during the third quarter. Covestor Ltd now owns 1,446 shares of the communications equipment provider’s stock worth $49,000 after buying an additional 666 shares during the last quarter. OV Management LLC bought a new position in Calix during the second quarter worth about $62,000. Finally, Sterling Capital Management LLC boosted its holdings in Calix by 827.9% during the third quarter. Sterling Capital Management LLC now owns 1,930 shares of the communications equipment provider’s stock worth $66,000 after buying an additional 1,722 shares during the last quarter. 98.14% of the stock is owned by institutional investors.

Calix Company Profile

Calix, Inc provides cloud, software and broadband access solutions to communications service providers. Its technology helps broadband operators deploy, manage and monetize high-speed internet and related services for residential and business customers.

The company’s offerings include broadband access systems, subscriber premise equipment, cloud-based software and analytics, and managed services. Its portfolio supports fiber, fixed wireless and other broadband networks, while enabling providers to deliver services such as Wi-Fi management, network security, connected home applications and business connectivity.

Founded in 1999 and headquartered in San Jose, California, Calix serves broadband service providers primarily in North America, with customers and operations in other international markets.