Calix (NYSE:CALX) Upgraded at StockNews.com

StockNews.com upgraded shares of Calix (NYSE:CALX) from a sell rating to a hold rating in a research note published on Friday morning.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of Calix from $28.00 to $41.00 and gave the company a neutral rating in a research note on Monday, July 22nd. Roth Mkm upped their price objective on shares of Calix from $43.00 to $44.00 and gave the stock a buy rating in a report on Tuesday, July 23rd. Rosenblatt Securities raised their target price on Calix from $35.00 to $45.00 and gave the company a buy rating in a report on Wednesday, July 24th. Craig Hallum boosted their price target on Calix from $41.00 to $50.00 and gave the stock a buy rating in a research report on Wednesday, July 24th. Finally, Needham & Company LLC reissued a buy rating and set a $45.00 price objective on shares of Calix in a report on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $42.50.

Calix Trading Down 0.6 %

NYSE:CALX opened at $38.46 on Friday. The company has a 50-day moving average of $37.20 and a 200-day moving average of $34.39. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 124.06 and a beta of 1.74. Calix has a twelve month low of $26.76 and a twelve month high of $47.15.

Calix (NYSE:CALX) last posted its quarterly earnings data on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.03. The firm had revenue of $198.14 million for the quarter, compared to the consensus estimate of $200.77 million. Calix had a return on equity of 4.17% and a net margin of 0.52%. During the same quarter in the previous year, the company earned $0.15 EPS. The business’s revenue for the quarter was down 24.1% compared to the same quarter last year. On average, research analysts forecast that Calix will post -0.36 earnings per share for the current year.

Insider Activity at Calix

In related news, Director Carl Russo sold 25,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $37.56, for a total value of $939,000.00. Following the completion of the transaction, the director now directly owns 3,723,381 shares of the company’s stock, valued at $139,850,190.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 16.69% of the company’s stock.

Hedge Funds Weigh In On Calix

Hedge funds have recently added to or reduced their stakes in the stock. Ariadne Wealth Management LP acquired a new position in Calix in the 2nd quarter worth $60,000. Creative Planning acquired a new position in shares of Calix during the second quarter worth about $513,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Calix during the second quarter worth about $430,000. Mackenzie Financial Corp acquired a new position in Calix during the 2nd quarter worth approximately $248,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Calix by 2.7% in the second quarter. The Manufacturers Life Insurance Company now owns 32,959 shares of the communications equipment provider’s stock worth $1,168,000 after purchasing an additional 857 shares in the last quarter. Institutional investors and hedge funds own 98.14% of the company’s stock.

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.