Calix (NYSE:CALX) Stock Price Up 5.3% – What’s Next?

Shares of Calix, Inc. (NYSE:CALX) shot up 5.3% during trading on Wednesday . The stock traded as high as $38.23 and last traded at $38.23. 273,552 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 488,580 shares. The stock had previously closed at $36.32.

Wall Street Analyst Weigh In

CALX has been the topic of a number of recent research reports. StockNews.com upgraded shares of Calix from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price target on shares of Calix in a research note on Tuesday, October 29th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $45.00 price objective on shares of Calix in a research note on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Calix has an average rating of “Moderate Buy” and an average target price of $42.50.

Calix Stock Performance

The company has a market capitalization of $2.54 billion, a P/E ratio of -159.50 and a beta of 1.68. The company has a 50-day simple moving average of $33.97 and a 200 day simple moving average of $35.90.

Calix (NYSE:CALX) last released 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 firm had revenue of $200.95 million during the quarter, compared to analysts’ expectations of $201.06 million. Calix had a negative net margin of 1.79% and a positive return on equity of 1.33%. The business’s quarterly revenue was down 23.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 EPS. As a group, sell-side analysts forecast that Calix, Inc. will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On Calix

Several institutional investors and hedge funds have recently bought and sold shares of the business. Diversified Trust Co boosted its position in shares of Calix by 18.1% during the 4th quarter. Diversified Trust Co now owns 12,030 shares of the communications equipment provider’s stock valued at $419,000 after acquiring an additional 1,845 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Calix by 46.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 127,570 shares of the communications equipment provider’s stock valued at $4,948,000 after purchasing an additional 40,306 shares during the period. Geode Capital Management LLC grew its stake in shares of Calix by 1.1% in 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 purchasing an additional 14,725 shares during the period. Barclays PLC lifted its position in shares of Calix by 184.0% during the 3rd quarter. Barclays PLC now owns 113,579 shares of the communications equipment provider’s stock worth $4,404,000 after buying an additional 73,588 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Calix in the 3rd quarter valued at $776,000. Institutional investors own 98.14% of the company’s stock.

Calix Company Profile

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.