Calix (CALX) Upgraded to Hold by Zacks Investment Research

Calix (NYSE:CALX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Calix is a global leader in access innovation. Its Unified Access portfolio of broadband communications access systems and software enables communications service providers worldwide to transform their networks and become the broadband provider of choice to their subscribers. “

Other equities research analysts have also issued reports about the company. BidaskClub upgraded Calix from a “hold” rating to a “buy” rating in a research report on Tuesday, October 17th. ValuEngine upgraded Calix from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Jefferies Group restated a “hold” rating and issued a $7.00 price target on shares of Calix in a research report on Friday, October 6th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $6.50.

Calix (CALX) traded down $0.05 during mid-day trading on Tuesday, hitting $5.65. The stock had a trading volume of 92,873 shares, compared to its average volume of 208,333. The stock has a market capitalization of $287.25, a price-to-earnings ratio of -3.47 and a beta of 0.70. Calix has a 1-year low of $4.65 and a 1-year high of $7.75.

Calix (NYSE:CALX) last posted its quarterly earnings results on Tuesday, November 7th. The communications equipment provider reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). The company had revenue of $128.80 million during the quarter, compared to analysts’ expectations of $127.92 million. Calix had a negative net margin of 16.19% and a negative return on equity of 43.76%. Calix’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the company earned $0.12 earnings per share. equities research analysts anticipate that Calix will post -1.53 earnings per share for the current year.

In other Calix news, CFO Cory Sindelar acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were purchased at an average cost of $6.70 per share, for a total transaction of $33,500.00. Following the completion of the acquisition, the chief financial officer now owns 15,000 shares of the company’s stock, valued at approximately $100,500. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 16.50% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CALX. GSA Capital Partners LLP acquired a new position in Calix during the third quarter worth $114,000. Dynamic Technology Lab Private Ltd acquired a new position in Calix during the third quarter worth $119,000. Voya Investment Management LLC lifted its stake in Calix by 15.5% during the second quarter. Voya Investment Management LLC now owns 27,603 shares of the communications equipment provider’s stock worth $189,000 after purchasing an additional 3,696 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Calix by 2.7% during the second quarter. Wells Fargo & Company MN now owns 28,054 shares of the communications equipment provider’s stock worth $192,000 after purchasing an additional 729 shares in the last quarter. Finally, Parametric Portfolio Associates LLC lifted its stake in Calix by 55.4% during the second quarter. Parametric Portfolio Associates LLC now owns 30,850 shares of the communications equipment provider’s stock worth $211,000 after purchasing an additional 11,001 shares in the last quarter. Hedge funds and other institutional investors own 67.13% of the company’s stock.

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About Calix

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.

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