Needham & Company LLC Reaffirms “Buy” Rating for Calix (NYSE:CALX)

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

CALX has been the subject of a number of other research reports. StockNews.com raised shares of Calix from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Roth Mkm lifted their price target on shares of Calix from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Rosenblatt Securities reissued a “buy” rating and set a $45.00 price target on shares of Calix in a research report on Thursday, October 3rd. JPMorgan Chase & Co. upped their target price on Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Finally, Craig Hallum raised their price target on Calix from $41.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Calix presently has an average rating of “Moderate Buy” and an average price target of $42.50.

Calix Stock Performance

Shares of CALX opened at $35.40 on Tuesday. The firm has a market cap of $2.33 billion, a P/E ratio of -147.50 and a beta of 1.74. Calix has a 52 week low of $26.76 and a 52 week high of $45.15. The firm’s 50-day simple moving average is $37.47 and its 200 day simple moving average is $35.24.

Calix (NYSE:CALX) last posted its earnings results on Monday, October 28th. The communications equipment provider reported $0.13 EPS for the quarter, beating the consensus estimate of $0.09 by $0.04. The company had revenue of $200.95 million for the quarter, compared to the consensus estimate of $201.06 million. Calix had a return on equity of 4.17% and a net margin of 0.52%. The firm’s revenue for the quarter was down 23.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.25 earnings per share. As a group, equities analysts forecast that Calix will post -0.36 earnings per share for the current year.

Hedge Funds Weigh In On Calix

A number of institutional investors have recently modified their holdings of CALX. GAMMA Investing LLC raised its stake in Calix by 187.9% during the third quarter. GAMMA Investing LLC now owns 668 shares of the communications equipment provider’s stock worth $26,000 after acquiring an additional 436 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Calix during the 3rd quarter valued at approximately $34,000. Arcadia Investment Management Corp MI bought a new position in Calix in the 3rd quarter valued at approximately $39,000. Headlands Technologies LLC bought a new position in Calix in the 1st quarter valued at approximately $48,000. Finally, Hexagon Capital Partners LLC lifted its stake in shares of Calix by 29.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,385 shares of the communications equipment provider’s stock valued at $54,000 after acquiring an additional 318 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.