Calix (NYSE:CALX) Lifted to “Hold” at StockNews.com

StockNews.com upgraded shares of Calix (NYSE:CALX) from a sell rating to a hold rating in a report issued on Friday.

CALX has been the subject of a number of other reports. Roth Mkm upped their price objective on Calix from $43.00 to $44.00 and gave the stock a buy rating in a research note on Tuesday, July 23rd. Craig Hallum lifted their price target on Calix from $41.00 to $50.00 and gave the company a buy rating in a report on Wednesday, July 24th. Rosenblatt Securities increased their price objective on Calix from $35.00 to $45.00 and gave the stock a buy rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their target price on Calix from $28.00 to $41.00 and gave the company a neutral rating in a research note on Monday, July 22nd. Finally, Needham & Company LLC reiterated a buy rating and set a $45.00 price target on shares of Calix in a research report on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Calix currently has an average rating of Moderate Buy and an average target price of $42.50.

Calix Trading Up 0.8 %

CALX stock opened at $38.78 on Friday. The firm has a 50 day simple moving average of $37.23 and a 200-day simple moving average of $34.42. The company has a market capitalization of $2.54 billion, a P/E ratio of 125.08 and a beta of 1.74. Calix has a twelve month low of $26.76 and a twelve month high of $46.29.

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

Insider Activity

In related news, Director Carl Russo sold 25,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $37.56, for a total transaction of $939,000.00. Following the transaction, the director now directly owns 3,723,381 shares of the company’s stock, valued at $139,850,190.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 16.69% of the company’s stock.

Institutional Inflows and Outflows

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

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.