Brokerages Set Calix, Inc. (NYSE:CALX) Target Price at $42.50

Shares of Calix, Inc. (NYSE:CALX) have earned an average rating of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $42.50.

Several equities analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $45.00 target price on shares of Calix in a research report on Tuesday, September 10th. Rosenblatt Securities boosted their price objective on Calix from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. StockNews.com raised Calix from a “sell” rating to a “hold” rating in a research report on Friday. Craig Hallum boosted their price target on shares of Calix from $41.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd.

Calix Trading Down 0.6 %

Shares of Calix stock opened at $38.46 on Wednesday. The company has a market capitalization of $2.52 billion, a P/E ratio of 124.06 and a beta of 1.74. The stock has a fifty day simple moving average of $37.20 and a 200 day simple moving average of $34.39. Calix has a 12-month low of $26.76 and a 12-month high of $47.15.

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

Insider Transactions at Calix

In related news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was 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 in the company, valued at approximately $139,850,190.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 16.69% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. TFO Wealth Partners LLC boosted its stake in Calix by 13,787.5% in the 4th quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock worth $49,000 after purchasing an additional 1,103 shares during the period. Headlands Technologies LLC purchased a new position in Calix during the first quarter valued at approximately $48,000. Ariadne Wealth Management LP bought a new stake in Calix during the 2nd quarter worth approximately $60,000. Assetmark Inc. lifted its stake in Calix by 41.5% in the 4th quarter. Assetmark Inc. now owns 2,233 shares of the communications equipment provider’s stock worth $98,000 after purchasing an additional 655 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in Calix by 13.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,520 shares of the communications equipment provider’s stock valued at $89,000 after purchasing an additional 303 shares during the period. 98.14% of the stock is currently owned by hedge funds and other institutional investors.

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.