Calix (CALX) Lifted to Hold at ValuEngine

Calix (NYSE:CALX) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Friday.

A number of other equities analysts have also recently issued reports on the stock. BidaskClub upgraded shares of Calix from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Zacks Investment Research cut shares of Calix from a “hold” rating to a “sell” rating in a research note on Monday, November 13th. Northland Securities set a $7.00 price target on shares of Calix and gave the stock a “hold” rating in a research note on Monday, August 7th. Finally, Jefferies Group reiterated a “hold” rating and issued a $7.00 price target on shares of Calix in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $6.50.

Shares of Calix (CALX) traded up $0.15 during trading on Friday, reaching $6.75. 355,790 shares of the company were exchanged, compared to its average volume of 349,166. Calix has a 52 week low of $4.65 and a 52 week high of $8.10.

Calix (NYSE:CALX) last announced its quarterly earnings results on Tuesday, November 7th. The communications equipment provider reported ($0.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.04). The firm had revenue of $128.80 million during the quarter, compared to the consensus estimate of $127.92 million. Calix had a negative return on equity of 43.76% and a negative net margin of 16.19%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.12 EPS. analysts expect that Calix will post -1.52 earnings per share for the current year.

In other Calix news, CFO Cory Sindelar bought 5,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was acquired at an average price of $6.70 per share, with a total value of $33,500.00. Following the transaction, the chief financial officer now owns 15,000 shares in the company, valued at $100,500. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 16.50% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the business. Rhumbline Advisers raised its position in Calix by 1.4% in the 2nd quarter. Rhumbline Advisers now owns 51,332 shares of the communications equipment provider’s stock worth $352,000 after buying an additional 690 shares during the last quarter. Wells Fargo & Company MN raised its position in Calix by 2.7% in the 2nd quarter. Wells Fargo & Company MN now owns 28,054 shares of the communications equipment provider’s stock worth $192,000 after buying an additional 729 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Calix by 0.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 160,938 shares of the communications equipment provider’s stock valued at $1,103,000 after purchasing an additional 1,102 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of Calix by 14.3% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 28,938 shares of the communications equipment provider’s stock valued at $210,000 after purchasing an additional 3,617 shares during the last quarter. Finally, Voya Investment Management LLC increased its position in shares of Calix by 15.5% during the 2nd quarter. Voya Investment Management LLC now owns 27,603 shares of the communications equipment provider’s stock valued at $189,000 after purchasing an additional 3,696 shares during the last quarter. 67.08% of the stock is owned by institutional investors and hedge funds.

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Calix Company Profile

Calix, Inc provides broadband communications access systems and software for fiber- and copper-based network architectures that enable communications service providers (CSPs), to transform their networks and connect to their residential and business subscribers. The Company enables CSPs to provide various services, from basic voice and data to advanced broadband services, over legacy and next-generation access networks.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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