Calix (NYSE:CALX) Rating Reiterated by Needham & Company LLC

Calix (NYSE:CALXGet Free Report)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a report released on Monday, Benzinga reports. They currently have a $45.00 price target on the communications equipment provider’s stock. Needham & Company LLC’s price target would suggest a potential upside of 43.27% from the stock’s previous close.

Several other equities research analysts have also commented on the company. StockNews.com lowered Calix from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. Craig Hallum reduced their price objective on Calix from $48.00 to $41.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Roth Mkm reiterated a “buy” rating and issued a $50.00 price target on shares of Calix in a research note on Monday, April 22nd. Rosenblatt Securities cut 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, April 23rd. Finally, Jefferies Financial Group lowered Calix from a “buy” rating to a “hold” rating and cut their price target for the stock from $48.00 to $30.00 in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Calix currently has an average rating of “Hold” and a consensus price target of $40.50.

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Calix Trading Up 0.3 %

Shares of CALX opened at $31.41 on Monday. The firm has a market cap of $2.06 billion, a PE ratio of 101.32 and a beta of 1.72. The firm has a fifty day simple moving average of $31.09 and a two-hundred day simple moving average of $36.14. Calix has a 1-year low of $26.76 and a 1-year high of $53.90.

Calix (NYSE:CALXGet Free Report) last posted its quarterly earnings data on Monday, April 22nd. The communications equipment provider reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The firm had revenue of $226.31 million during the quarter, compared to analyst estimates of $228.01 million. Calix had a return on equity of 6.64% and a net margin of 2.19%. As a group, research analysts forecast that Calix will post -0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Calix by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 7,323,628 shares of the communications equipment provider’s stock valued at $242,852,000 after purchasing an additional 900,713 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Calix by 10.5% in the 4th quarter. Wellington Management Group LLP now owns 1,755,497 shares of the communications equipment provider’s stock valued at $76,698,000 after acquiring an additional 166,695 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Calix by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,672,146 shares of the communications equipment provider’s stock valued at $73,057,000 after acquiring an additional 35,992 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of Calix by 516.6% in the 4th 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. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Calix by 15.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,429,624 shares of the communications equipment provider’s stock valued at $65,534,000 after acquiring an additional 189,676 shares during the last quarter. Institutional investors own 98.14% of the company’s stock.

About Calix

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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.

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