Calix, Inc. (NYSE:CALX) Receives $42.50 Average Target Price from Brokerages

Shares of Calix, Inc. (NYSE:CALX) have received an average recommendation of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $42.50.

A number of research analysts recently weighed in on CALX shares. Craig Hallum lifted their target price on Calix from $41.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com upgraded Calix from a “sell” rating to a “hold” rating in a report on Friday, September 27th. Needham & Company LLC restated a “buy” rating and issued a $45.00 price target on shares of Calix in a report on Tuesday, September 10th. Roth Mkm boosted their price objective on shares of Calix from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Rosenblatt Securities raised their target price on shares of Calix from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th.

Calix Price Performance

CALX opened at $37.94 on Wednesday. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 122.39 and a beta of 1.74. Calix has a 12 month low of $26.76 and a 12 month high of $46.29. The business has a 50-day moving average of $37.28 and a two-hundred day moving average of $34.45.

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

Insider Activity

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. TFO Wealth Partners LLC boosted its stake in shares of Calix by 13,787.5% during the 4th quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock valued at $49,000 after buying an additional 1,103 shares during the last quarter. Headlands Technologies LLC acquired a new position in Calix during the 1st quarter worth $48,000. Ariadne Wealth Management LP bought a new stake in shares of Calix in the 2nd quarter worth about $60,000. Assetmark Inc. raised its stake in shares of Calix by 41.5% in 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. Finally, Nisa Investment Advisors LLC lifted its position in shares of Calix by 13.7% during the second quarter. Nisa Investment Advisors LLC now owns 2,520 shares of the communications equipment provider’s stock worth $89,000 after purchasing an additional 303 shares during the last quarter. Hedge funds and other institutional investors own 98.14% of the company’s stock.

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.