Needham & Company LLC Reaffirms “Buy” Rating for Calix (NYSE:CALX)

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

A number of other equities research analysts have also weighed in on CALX. StockNews.com upgraded shares of Calix from a sell rating to a hold rating in a report on Wednesday, February 28th. Rosenblatt Securities decreased their price objective on Calix from $57.00 to $45.00 and set a buy rating for the company in a report on Tuesday, January 30th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $54.60.

Calix Stock Down 0.6 %

NYSE CALX opened at $29.28 on Wednesday. Calix has a 52 week low of $28.95 and a 52 week high of $53.90. The business has a 50 day moving average price of $33.38 and a 200-day moving average price of $37.80. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 65.06 and a beta of 1.65.

Calix (NYSE:CALX) last posted its quarterly earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.07. Calix had a net margin of 3.06% and a return on equity of 7.92%. The business had revenue of $264.73 million during the quarter, compared to the consensus estimate of $264.41 million. During the same quarter last year, the firm posted $0.18 EPS. Calix’s revenue was up 8.3% compared to the same quarter last year. On average, equities research analysts anticipate that Calix will post 0.45 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. BlackRock Inc. increased its stake in Calix by 45.9% in the 1st quarter. BlackRock Inc. now owns 7,446,078 shares of the communications equipment provider’s stock valued at $319,511,000 after buying an additional 2,340,968 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Calix by 35.2% in the first quarter. Vanguard Group Inc. now owns 5,586,440 shares of the communications equipment provider’s stock valued at $239,713,000 after acquiring an additional 1,453,368 shares in the last quarter. TD Asset Management Inc increased its position in shares of Calix by 516.6% during the fourth quarter. TD Asset Management Inc now owns 1,610,885 shares of the communications equipment provider’s stock valued at $70,380,000 after acquiring an additional 1,349,625 shares during the last quarter. Epoch Investment Partners Inc. lifted its holdings in Calix by 213.8% during the fourth quarter. Epoch Investment Partners Inc. now owns 944,350 shares of the communications equipment provider’s stock worth $41,259,000 after acquiring an additional 643,392 shares during the period. Finally, State Street Corp boosted its position in Calix by 58.5% in the first quarter. State Street Corp now owns 1,732,618 shares of the communications equipment provider’s stock worth $74,347,000 after purchasing an additional 639,780 shares during the last quarter. 98.14% of the stock is owned by institutional investors.

Calix Company Profile

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.