Calix, Inc. (NYSE:CALX) Receives $43.17 Average PT from Brokerages

Calix, Inc. (NYSE:CALX) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $43.17.

CALX has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price target on shares of Calix in a research note on Thursday, January 30th. JPMorgan Chase & Co. boosted their price objective on Calix from $38.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, January 31st.

Calix Stock Down 1.4 %

Shares of Calix stock opened at $36.81 on Wednesday. Calix has a twelve month low of $26.76 and a twelve month high of $42.50. The company’s 50 day moving average is $37.43 and its 200 day moving average is $36.28. The company has a market cap of $2.45 billion, a price-to-earnings ratio of -81.80 and a beta of 1.78.

Calix (NYSE:CALX) last released its quarterly earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share 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%. Sell-side analysts expect that Calix will post -0.43 EPS for the current fiscal year.

Insider Buying and Selling

In other Calix news, Director Carl Russo sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was 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 in the company, valued at $82,563,772.20. This represents a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 16.69% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Calix

Hedge funds have recently modified their holdings of the stock. Millennium Management LLC increased its holdings in Calix by 77.8% in 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 acquiring an additional 889,102 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Calix by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 7,977,769 shares of the communications equipment provider’s stock valued at $278,185,000 after purchasing an additional 412,982 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Calix by 711.5% in the fourth 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 during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Calix by 105.7% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 708,723 shares of the communications equipment provider’s stock worth $24,713,000 after buying an additional 364,209 shares in the last quarter. Finally, Norges Bank bought a new position in Calix during the fourth quarter valued at approximately $11,518,000. 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.