Brokerages Set Calix, Inc. (NYSE:CALX) Price Target at $43.17

Calix, Inc. (NYSE:CALX) has been given an average recommendation of “Moderate Buy” by the six brokerages that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $41.33.

A number of brokerages recently weighed in on CALX. Needham & Company LLC restated a “buy” rating and set a $45.00 target price on shares of Calix in a report on Thursday, January 30th. JPMorgan Chase & Co. lowered their price objective on shares of Calix from $45.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday.

Calix Price Performance

Calix stock opened at $33.80 on Friday. The company has a market cap of $2.25 billion, a price-to-earnings ratio of -75.12 and a beta of 1.75. The firm has a 50-day moving average of $35.41 and a 200-day moving average of $35.86. Calix has a one year low of $26.76 and a one year high of $42.50.

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

Insider Activity

In related news, Director Carl Russo sold 25,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $38.15, for a total value of $953,750.00. Following the transaction, the director now owns 2,164,188 shares in the company, valued at approximately $82,563,772.20. This represents a 1.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 16.69% of the company’s stock.

Institutional Investors Weigh In On Calix

Institutional investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its holdings in Calix by 367.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider’s stock worth $28,000 after purchasing an additional 640 shares during the last quarter. Pacer Advisors Inc. increased its position in Calix by 29.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider’s stock worth $54,000 after buying an additional 358 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Calix during the fourth quarter worth $84,000. FMR LLC boosted its position in shares of Calix by 49.0% in the third quarter. FMR LLC now owns 2,398 shares of the communications equipment provider’s stock valued at $93,000 after acquiring an additional 789 shares during the period. Finally, KBC Group NV grew its stake in shares of Calix by 57.8% in the fourth quarter. KBC Group NV now owns 2,772 shares of the communications equipment provider’s stock valued at $97,000 after acquiring an additional 1,015 shares in the last quarter. Institutional investors own 98.14% of the company’s stock.

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.