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

Calix (NYSE:CALX)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a research report issued on Tuesday, Benzinga reports. They currently have a $50.00 price target on the communications equipment provider’s stock. Needham & Company LLC’s target price suggests a potential upside of 76.99% from the stock’s previous close.

CALX has been the subject of several other research reports. Rosenblatt Securities decreased their price target on Calix from $45.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday. StockNews.com upgraded Calix from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. Finally, Roth Mkm restated a “buy” rating and issued a $50.00 price target on shares of Calix in a research report on Monday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.60.

Calix Trading Up 0.8 %

Shares of NYSE CALX opened at $28.25 on Tuesday. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 91.13 and a beta of 1.65. Calix has a 1-year low of $26.76 and a 1-year high of $53.90. The stock’s 50-day moving average is $33.04 and its 200 day moving average is $37.45.

Calix (NYSE:CALX) last issued its quarterly earnings data on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. Calix had a return on equity of 6.65% and a net margin of 2.19%. The firm had revenue of $264.73 million for the quarter, compared to analyst estimates of $264.41 million. During the same period last year, the company earned $0.18 EPS. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, analysts forecast that Calix will post 0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Calix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TFO Wealth Partners LLC raised its position in Calix by 13,787.5% during the fourth quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock valued at $49,000 after purchasing an additional 1,103 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Calix by 194.4% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,531 shares of the communications equipment provider’s stock worth $70,000 after buying an additional 1,011 shares during the period. Assetmark Inc. raised its holdings in shares of Calix by 31.9% in the third quarter. Assetmark Inc. now owns 1,578 shares of the communications equipment provider’s stock worth $72,000 after buying an additional 382 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of Calix by 18.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,232 shares of the communications equipment provider’s stock worth $98,000 after buying an additional 348 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Calix in the third quarter worth approximately $111,000. 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.