Analysts Set Calix, Inc. (NYSE:CALX) Price Target at $43.17

Calix, Inc. (NYSE:CALX) has been given an average rating of “Moderate Buy” by the six analysts that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $43.17.

A number of brokerages have commented on CALX. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price target on shares of Calix in a research note on Thursday, January 30th. JPMorgan Chase & Co. upped their price target on shares of Calix from $38.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, January 31st.

Calix Stock Performance

Shares of Calix stock opened at $36.81 on Wednesday. Calix has a 52-week low of $26.76 and a 52-week high of $42.50. The company has a fifty day moving average of $37.43 and a 200-day moving average of $36.28. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -81.80 and a beta of 1.78.

Calix (NYSE:CALX) last posted its quarterly earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.31). Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. On average, equities research analysts forecast that Calix will post -0.43 earnings per share for the current fiscal year.

Insider Activity at Calix

In related news, Director Carl Russo sold 25,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $38.15, for a total value of $953,750.00. Following the completion of the transaction, the director now directly owns 2,164,188 shares of the company’s stock, valued at $82,563,772.20. This represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 16.69% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Calix

Hedge funds have recently made changes to their positions in the company. Millennium Management LLC boosted its holdings in shares of Calix by 77.8% during the 4th quarter. Millennium Management LLC now owns 2,031,212 shares of the communications equipment provider’s stock valued at $70,828,000 after buying an additional 889,102 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Calix by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 7,977,769 shares of the communications equipment provider’s stock worth $278,185,000 after acquiring an additional 412,982 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in Calix by 711.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 436,036 shares of the communications equipment provider’s stock worth $15,205,000 after purchasing an additional 382,301 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Calix by 105.7% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 708,723 shares of the communications equipment provider’s stock valued at $24,713,000 after buying an additional 364,209 shares during the last quarter. Finally, Norges Bank purchased a new stake in Calix during the 4th quarter valued at $11,518,000. 98.14% of the stock is currently owned by 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.