Calix, Inc. (NYSE:CALX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Calix, Inc. (NYSE:CALX) have earned a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $47.83.

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

Calix Stock Performance

Shares of CALX stock opened at $46.33 on Monday. The firm’s 50 day moving average price is $39.46 and its 200-day moving average price is $37.22. Calix has a one year low of $28.61 and a one year high of $47.73. The firm has a market cap of $3.00 billion, a P/E ratio of -102.95 and a beta of 1.38.

Calix (NYSE:CALX) last released its earnings results on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. The company had revenue of $220.20 million for the quarter, compared to analyst estimates of $206.98 million. Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. During the same period in the prior year, the business earned $0.21 EPS. As a group, research analysts predict that Calix will post -0.43 EPS for the current fiscal year.

Calix declared that its board has approved a stock repurchase plan on Monday, April 21st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the communications equipment provider to buy up to 4.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Calix

In related news, Director Carl Russo sold 25,000 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $39.59, for a total value of $989,750.00. Following the transaction, the director now owns 2,139,188 shares of the company’s stock, valued at $84,690,452.92. This represents a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 16.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Calix

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Calix by 0.5% during the first quarter. Vanguard Group Inc. now owns 8,015,370 shares of the communications equipment provider’s stock worth $284,065,000 after purchasing an additional 37,601 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Calix by 12.1% during the first quarter. Alliancebernstein L.P. now owns 2,509,223 shares of the communications equipment provider’s stock worth $88,927,000 after purchasing an additional 270,397 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Calix by 77.8% during the fourth quarter. Millennium Management LLC now owns 2,031,212 shares of the communications equipment provider’s stock worth $70,828,000 after purchasing an additional 889,102 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Calix by 4.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,832,407 shares of the communications equipment provider’s stock worth $63,897,000 after purchasing an additional 74,720 shares during the last quarter. Finally, Congress Asset Management Co. grew its holdings in shares of Calix by 8.1% during the first quarter. Congress Asset Management Co. now owns 1,378,497 shares of the communications equipment provider’s stock worth $48,854,000 after purchasing an additional 103,175 shares during the last quarter. Hedge funds and other 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.