Calix (NYSE:CALX) Trading Up 5.3% – Still a Buy?

Calix, Inc. (NYSE:CALX)’s share price rose 5.3% during mid-day trading on Wednesday . The company traded as high as $38.23 and last traded at $38.23. Approximately 273,552 shares traded hands during trading, a decline of 44% from the average daily volume of 488,580 shares. The stock had previously closed at $36.32.

Analyst Ratings Changes

A number of research firms have commented on CALX. StockNews.com upgraded shares of Calix from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Needham & Company LLC reissued a “buy” rating and issued a $45.00 target price on shares of Calix in a report on Tuesday, October 29th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $45.00 price objective on shares of Calix in a research report on Thursday, October 3rd. 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 currently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Calix Stock Up 5.4 %

The company has a market cap of $2.54 billion, a P/E ratio of -159.50 and a beta of 1.68. The business has a 50-day moving average price of $33.97 and a two-hundred day moving average price of $35.90.

Calix (NYSE:CALX) last announced its quarterly earnings data on Monday, October 28th. The communications equipment provider reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.04. The firm had revenue of $200.95 million during the quarter, compared to analysts’ expectations of $201.06 million. Calix had a positive return on equity of 1.33% and a negative net margin of 1.79%. The company’s quarterly revenue was down 23.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 EPS. As a group, sell-side analysts expect that Calix, Inc. will post -0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Calix

Several hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in Calix by 187.9% during the 3rd quarter. GAMMA Investing LLC now owns 668 shares of the communications equipment provider’s stock worth $26,000 after purchasing an additional 436 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Calix during the third quarter worth $34,000. Arcadia Investment Management Corp MI acquired a new stake in shares of Calix during the third quarter worth $39,000. Avior Wealth Management LLC raised its holdings in shares of Calix by 998.1% during the third quarter. Avior Wealth Management LLC now owns 1,186 shares of the communications equipment provider’s stock worth $46,000 after acquiring an additional 1,078 shares during the period. Finally, Hexagon Capital Partners LLC lifted its position in Calix by 29.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,385 shares of the communications equipment provider’s stock valued at $54,000 after acquiring an additional 318 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.