Calix (NYSE:CALX) Trading 5.3% Higher – What’s Next?

Calix, Inc. (NYSE:CALX) was up 5.3% during trading on Wednesday . The company traded as high as $38.23 and last traded at $38.23. Approximately 273,552 shares were traded during trading, a decline of 44% from the average daily volume of 488,580 shares. The stock had previously closed at $36.32.

Analysts Set New Price Targets

CALX has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Calix from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Needham & Company LLC restated a “buy” rating and set a $45.00 price target on shares of Calix in a research note on Tuesday, October 29th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $45.00 price objective on shares of Calix in a research note on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.50.

Calix Stock Performance

The stock’s 50 day moving average is $34.07 and its 200 day moving average is $35.94. The company has a market capitalization of $2.41 billion, a PE ratio of -151.25 and a beta of 1.68.

Calix (NYSE:CALX) last posted its earnings results on Monday, October 28th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.04. Calix had a positive return on equity of 1.33% and a negative net margin of 1.79%. The firm had revenue of $200.95 million for the quarter, compared to the consensus estimate of $201.06 million. During the same quarter in the prior year, the business posted $0.25 earnings per share. The business’s quarterly revenue was down 23.8% on a year-over-year basis. On average, equities research analysts forecast that Calix, Inc. will post -0.34 EPS for the current fiscal year.

Institutional Trading of Calix

Institutional investors and hedge funds have recently bought and sold shares of the company. Divisar Capital Management LLC purchased a new position in Calix in the second quarter worth $15,876,000. Congress Asset Management Co. lifted its position in Calix by 30.1% in the 3rd quarter. Congress Asset Management Co. now owns 1,565,471 shares of the communications equipment provider’s stock worth $60,725,000 after buying an additional 361,805 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Calix by 200.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 344,514 shares of the communications equipment provider’s stock valued at $13,364,000 after purchasing an additional 229,871 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of Calix by 82.7% during the second quarter. Squarepoint Ops LLC now owns 300,346 shares of the communications equipment provider’s stock valued at $10,641,000 after buying an additional 135,916 shares during the last quarter. Finally, Paradigm Capital Management Inc. NY grew its position in Calix by 9.5% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,336,900 shares of the communications equipment provider’s stock worth $47,366,000 after acquiring an additional 115,500 shares during the last quarter. 98.14% of the stock is currently owned by hedge funds and other institutional investors.

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.