Calix, Inc. (NYSE:CALX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Calix, Inc. (NYSE:CALX) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $47.83.

A number of research firms have issued reports on CALX. Needham & Company LLC reiterated a “buy” rating and set a $53.00 price target on shares of Calix in a research note on Tuesday, April 22nd. Roth Capital set a $50.00 price target on Calix and gave the company a “buy” rating in a research report on Tuesday, April 22nd. Rosenblatt Securities upped their target price on shares of Calix from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. UBS Group reissued a “buy” rating on shares of Calix in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Calix from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 23rd.

Insiders Place Their Bets

In other news, Director Carl Russo sold 25,000 shares of the stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $39.59, for a total transaction of $989,750.00. Following the completion of the sale, the director now owns 2,139,188 shares of the company’s stock, valued at approximately $84,690,452.92. This represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 16.90% of the company’s stock.

Institutional Trading of Calix

A number of institutional investors have recently modified their holdings of CALX. Barclays PLC increased its position in Calix by 184.0% during the 3rd quarter. Barclays PLC now owns 113,579 shares of the communications equipment provider’s stock valued at $4,404,000 after purchasing an additional 73,588 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Calix by 46.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 127,570 shares of the communications equipment provider’s stock worth $4,948,000 after purchasing an additional 40,306 shares in the last quarter. Diversified Trust Co grew its stake in shares of Calix by 18.1% in the fourth quarter. Diversified Trust Co now owns 12,030 shares of the communications equipment provider’s stock worth $419,000 after acquiring an additional 1,845 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in Calix by 25.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 14,301 shares of the communications equipment provider’s stock valued at $499,000 after purchasing an additional 2,911 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Calix in the 4th quarter valued at approximately $391,000. 98.14% of the stock is currently owned by hedge funds and other institutional investors.

Calix Stock Up 0.7 %

NYSE CALX opened at $42.19 on Thursday. Calix has a 52 week low of $28.61 and a 52 week high of $42.50. The business has a 50 day moving average price of $35.46 and a 200-day moving average price of $35.99. The company has a market cap of $2.73 billion, a price-to-earnings ratio of -93.75 and a beta of 1.38.

Calix (NYSE:CALX) last announced its quarterly earnings results on Monday, April 21st. The communications equipment provider reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. The business had revenue of $220.20 million during the quarter, compared to analyst estimates of $206.98 million. During the same quarter in the previous year, the business posted $0.21 EPS. On average, equities research analysts anticipate that Calix will post -0.43 earnings per share for the current year.

Calix declared that its board has approved a share buyback plan on Monday, April 21st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the communications equipment provider to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.