Calix (NYSE:CALX) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Calix (NYSE:CALX) in a research note released on Wednesday, Benzinga reports. Needham & Company LLC currently has a $50.00 price target on the communications equipment provider’s stock.

Several other analysts have also commented on the company. StockNews.com raised Calix from a sell rating to a hold rating in a report on Wednesday, February 28th. Rosenblatt Securities dropped their target price on Calix from $57.00 to $45.00 and set a buy rating on the stock in a report on Tuesday, January 30th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $54.60.

Calix Stock Performance

Calix stock opened at $29.28 on Wednesday. The stock has a 50-day moving average of $33.38 and a two-hundred day moving average of $37.76. Calix has a one year low of $28.95 and a one year high of $53.90. The stock has a market cap of $1.92 billion, a PE ratio of 65.07 and a beta of 1.65.

Calix (NYSE:CALX) last announced its quarterly earnings data on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. The business had revenue of $264.73 million for the quarter, compared to analyst estimates of $264.41 million. Calix had a return on equity of 7.92% and a net margin of 3.06%. The company’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 earnings per share. As a group, sell-side analysts predict that Calix will post 0.45 EPS for the current fiscal year.

Institutional Trading of Calix

Institutional investors and hedge funds have recently made changes to their positions in the business. Advisor Group Holdings Inc. boosted its stake in shares of Calix by 7.5% in the first quarter. Advisor Group Holdings Inc. now owns 8,213 shares of the communications equipment provider’s stock worth $353,000 after acquiring an additional 573 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Calix by 205.3% during the first quarter. JPMorgan Chase & Co. now owns 156,166 shares of the communications equipment provider’s stock worth $6,700,000 after buying an additional 105,006 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Calix during the first quarter worth $758,000. PNC Financial Services Group Inc. boosted its stake in Calix by 865.3% during the first quarter. PNC Financial Services Group Inc. now owns 1,390 shares of the communications equipment provider’s stock worth $59,000 after buying an additional 1,246 shares during the last quarter. Finally, AlphaCrest Capital Management LLC boosted its stake in Calix by 167.1% during the first quarter. AlphaCrest Capital Management LLC now owns 7,380 shares of the communications equipment provider’s stock worth $317,000 after buying an additional 4,617 shares during the last quarter. 98.14% of the stock is currently owned by hedge funds and other institutional investors.

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.