Calix (NYSE:CALX) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of Calix (NYSE:CALX) from a sell rating to a hold rating in a report published on Tuesday morning.

CALX has been the subject of several other research reports. Roth Mkm raised their price target on Calix from $43.00 to $44.00 and gave the stock a buy rating in a report on Tuesday, July 23rd. Rosenblatt Securities reissued a buy rating and set a $45.00 target price on shares of Calix in a research report on Thursday, October 3rd. Needham & Company LLC reaffirmed a buy rating and issued a $45.00 price target on shares of Calix in a report on Tuesday, September 10th. JPMorgan Chase & Co. boosted their price objective on shares of Calix from $28.00 to $41.00 and gave the company a neutral rating in a report on Monday, July 22nd. Finally, Craig Hallum raised their target price on Calix from $41.00 to $50.00 and gave the stock a buy rating in a research note on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $42.50.

Calix Stock Down 1.2 %

NYSE CALX opened at $36.77 on Tuesday. Calix has a 52 week low of $26.76 and a 52 week high of $46.29. The company has a 50 day moving average price of $37.17 and a 200 day moving average price of $34.61. The firm has a market cap of $2.41 billion, a PE ratio of 118.61 and a beta of 1.74.

Calix (NYSE:CALX) last issued its quarterly earnings results on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $198.14 million for the quarter, compared to the consensus estimate of $200.77 million. Calix had a return on equity of 4.17% and a net margin of 0.52%. The business’s quarterly revenue was down 24.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 earnings per share. On average, equities research analysts anticipate that Calix will post -0.36 earnings per share for the current fiscal year.

Insider Transactions at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $37.56, for a total value of $939,000.00. Following the sale, the director now directly owns 3,723,381 shares of the company’s stock, valued at approximately $139,850,190.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 16.69% of the company’s stock.

Institutional Investors Weigh In On Calix

Hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new position in shares of Calix in the first quarter worth about $1,145,000. Epoch Investment Partners Inc. boosted its holdings in Calix by 23.3% in the 1st quarter. Epoch Investment Partners Inc. now owns 1,164,049 shares of the communications equipment provider’s stock worth $38,600,000 after buying an additional 219,699 shares during the last quarter. Congress Asset Management Co. MA increased its stake in Calix by 9.6% during the 4th quarter. Congress Asset Management Co. MA now owns 875,687 shares of the communications equipment provider’s stock worth $38,259,000 after buying an additional 76,546 shares in the last quarter. FORA Capital LLC acquired a new position in shares of Calix during the first quarter valued at approximately $724,000. Finally, Koshinski Asset Management Inc. purchased a new position in shares of Calix in the first quarter valued at approximately $669,000. Hedge funds and other institutional investors 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.