Calix (NYSE:CALX) Reaches New 12-Month High – Still a Buy?

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

Wall Street Analyst Weigh In

Several research firms have weighed in on CALX. JPMorgan Chase & Co. increased their price target on shares of Calix from $38.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Needham & Company LLC reiterated a “buy” rating and set a $45.00 target price on shares of Calix in a research report on Thursday, January 30th. Finally, StockNews.com upgraded Calix from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $43.17.

Calix Stock Up 3.4 %

The company has a market capitalization of $2.79 billion, a PE ratio of -93.64 and a beta of 1.70. The company’s 50 day moving average is $36.06 and its two-hundred day moving average is $36.35.

Calix (NYSE:CALX) last issued its quarterly earnings data on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.31). Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. Analysts forecast that Calix, Inc. will post -0.34 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CALX. GAMMA Investing LLC lifted its stake in shares of Calix by 187.9% in the 3rd quarter. GAMMA Investing LLC now owns 668 shares of the communications equipment provider’s stock valued at $26,000 after purchasing an additional 436 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Calix during the third quarter valued at $34,000. Arcadia Investment Management Corp MI purchased a new stake in shares of Calix in the third quarter valued at $39,000. Avior Wealth Management LLC lifted its stake in Calix by 998.1% in the third quarter. Avior Wealth Management LLC now owns 1,186 shares of the communications equipment provider’s stock worth $46,000 after purchasing an additional 1,078 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its stake in shares of Calix by 29.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,385 shares of the communications equipment provider’s stock worth $54,000 after acquiring an additional 318 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.