Calix (NYSE:CALX) Hits New 1-Year High – Here’s Why

Calix, Inc. (NYSE:CALX) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $42.00 and last traded at $42.02, with a volume of 426142 shares. The stock had previously closed at $40.75.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 target price on shares of Calix in a report on Thursday, January 30th. StockNews.com raised Calix from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. raised their target price on Calix from $38.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Calix presently has an average rating of “Moderate Buy” and a consensus target price of $43.17.

Calix Trading Up 3.4 %

The stock has a market capitalization of $2.79 billion, a PE ratio of -93.64 and a beta of 1.70. The business has a fifty day moving average price of $36.06 and a 200-day moving average price of $36.35.

Calix (NYSE:CALX) last released its earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.31). Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. On average, equities analysts anticipate that Calix, Inc. will post -0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Calix

Several institutional investors and hedge funds have recently modified their holdings of CALX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Calix by 5.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 129,608 shares of the communications equipment provider’s stock worth $5,027,000 after acquiring an additional 6,984 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of Calix in the 3rd quarter worth approximately $3,513,000. Geode Capital Management LLC increased its position in Calix by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,331,565 shares of the communications equipment provider’s stock valued at $51,661,000 after buying an additional 14,725 shares in the last quarter. Barclays PLC raised its stake in Calix by 184.0% during the third quarter. Barclays PLC now owns 113,579 shares of the communications equipment provider’s stock valued at $4,404,000 after buying an additional 73,588 shares during the last quarter. Finally, Creative Planning bought a new stake in Calix in the second quarter worth $513,000. 98.14% of the stock is owned by hedge funds and other institutional investors.

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.