Needham & Company LLC Reiterates Buy Rating for Calix (NYSE:CALX)

Needham & Company LLC reaffirmed their buy rating on shares of Calix (NYSE:CALX) in a report issued on Tuesday, Benzinga reports. The brokerage currently has a $50.00 target price on the communications equipment provider’s stock.

CALX has been the subject of several other research reports. StockNews.com raised shares of Calix from a sell rating to a hold rating in a research report on Wednesday, February 28th. Roth Mkm reiterated a buy rating and issued a $50.00 price target on shares of Calix in a report on Monday, April 22nd. Finally, Rosenblatt Securities reduced their price objective on Calix from $45.00 to $35.00 and set a buy rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $41.33.

Calix Stock Up 0.6 %

Shares of CALX opened at $28.41 on Tuesday. The firm has a market cap of $1.86 billion, a PE ratio of 91.65 and a beta of 1.65. The company’s fifty day moving average is $32.79 and its two-hundred day moving average is $37.27. Calix has a fifty-two week low of $26.76 and a fifty-two week high of $53.90.

Calix (NYSE:CALX) last announced its quarterly earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.36 by $0.07. Calix had a return on equity of 6.64% and a net margin of 2.19%. The company had revenue of $264.73 million during the quarter, compared to analyst estimates of $264.41 million. During the same period in the prior year, the firm posted $0.18 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. As a group, equities research analysts anticipate that Calix will post 0.45 earnings per share for the current year.

Hedge Funds Weigh In On Calix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CALX. Los Angeles Capital Management LLC boosted its stake in shares of Calix by 4.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 8,224 shares of the communications equipment provider’s stock valued at $377,000 after buying an additional 314 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in Calix by 0.3% during the 3rd quarter. Panagora Asset Management Inc. now owns 103,223 shares of the communications equipment provider’s stock valued at $4,732,000 after acquiring an additional 339 shares during the last quarter. Inspire Investing LLC grew its holdings in Calix by 5.5% during the 3rd quarter. Inspire Investing LLC now owns 6,628 shares of the communications equipment provider’s stock worth $304,000 after acquiring an additional 348 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in Calix by 18.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,232 shares of the communications equipment provider’s stock worth $98,000 after acquiring an additional 348 shares in the last quarter. Finally, Alliance Wealth Advisors LLC UT increased its position in shares of Calix by 4.5% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 8,780 shares of the communications equipment provider’s stock worth $384,000 after purchasing an additional 375 shares during the last quarter. 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.