Calix (NYSE:CALX) Given Maintains Rating at Barrington Research

Calix (NYSE:CALXGet Rating)‘s stock had its “maintains” rating reiterated by equities researchers at Barrington Research in a research note issued on Wednesday, Benzinga reports.

Several other brokerages have also recently issued reports on CALX. StockNews.com began coverage on shares of Calix in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Craig Hallum increased their price target on shares of Calix from $62.00 to $69.00 and gave the stock an “outperform” rating in a research report on Wednesday. Cowen upped their target price on shares of Calix from $48.00 to $71.00 and gave the stock a “maintains” rating in a research note on Wednesday. Needham & Company LLC upped their target price on shares of Calix from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Cowen upped their target price on shares of Calix from $48.00 to $71.00 and gave the stock an “outperform” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Calix currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.20.

Calix Price Performance

NYSE CALX opened at $56.91 on Wednesday. The firm’s 50-day moving average is $37.88 and its two-hundred day moving average is $42.67. Calix has a 12 month low of $31.59 and a 12 month high of $80.95. The stock has a market capitalization of $3.68 billion, a P/E ratio of 18.18, a PEG ratio of 10.50 and a beta of 1.55.

Calix (NYSE:CALXGet Rating) last posted its earnings results on Monday, July 25th. The communications equipment provider reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. The company had revenue of $202.04 million for the quarter, compared to analysts’ expectations of $196.02 million. Calix had a net margin of 28.95% and a return on equity of 8.02%. Calix’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.31 earnings per share. As a group, analysts anticipate that Calix will post 0.24 EPS for the current year.

Insider Activity

In other news, Director Donald J. Listwin sold 33,750 shares of the stock in a transaction that occurred on Thursday, May 5th. The stock was sold at an average price of $39.97, for a total value of $1,348,987.50. Following the completion of the sale, the director now directly owns 751,250 shares of the company’s stock, valued at $30,027,462.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Calix news, Director Kevin A. Denuccio sold 12,477 shares of the firm’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $40.00, for a total value of $499,080.00. Following the completion of the sale, the director now owns 80,000 shares of the company’s stock, valued at $3,200,000. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Donald J. Listwin sold 33,750 shares of the firm’s stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $39.97, for a total value of $1,348,987.50. Following the completion of the sale, the director now directly owns 751,250 shares of the company’s stock, valued at approximately $30,027,462.50. The disclosure for this sale can be found here. Corporate insiders own 16.64% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Arizona State Retirement System increased its position in shares of Calix by 1.3% in the second quarter. Arizona State Retirement System now owns 15,717 shares of the communications equipment provider’s stock valued at $537,000 after buying an additional 206 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Calix by 414.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 631,269 shares of the communications equipment provider’s stock worth $21,552,000 after purchasing an additional 508,644 shares in the last quarter. Ophir Asset Management Pty Ltd purchased a new stake in Calix in the 2nd quarter valued at about $9,041,000. Allspring Global Investments Holdings LLC grew its holdings in Calix by 125.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 475,442 shares of the communications equipment provider’s stock valued at $16,231,000 after buying an additional 264,384 shares during the period. Finally, Strs Ohio grew its holdings in Calix by 40.4% in the 2nd quarter. Strs Ohio now owns 13,200 shares of the communications equipment provider’s stock valued at $450,000 after buying an additional 3,800 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

About Calix

(Get Rating)

Calix, Inc, together with its subsidiaries, provides cloud and software platforms, and systems and services in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company's cloud and software platforms, and systems and services enable broadband service providers (BSPs) to provide a range of services.

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