Calix (NYSE:CALX) Trading Up 4.2%

Calix, Inc. (NYSE:CALXGet Rating)’s stock price was up 4.2% during trading on Wednesday . The company traded as high as $61.31 and last traded at $61.23. Approximately 4,595 shares were traded during trading, a decline of 99% from the average daily volume of 424,184 shares. The stock had previously closed at $58.75.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CALX shares. Needham & Company LLC raised their price objective on shares of Calix from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. Westpark Capital started coverage on shares of Calix in a report on Tuesday, September 13th. They set a “buy” rating for the company. Cowen lifted their price target on shares of Calix from $48.00 to $71.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. Craig Hallum lifted their price target on shares of Calix from $62.00 to $69.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. Finally, Rosenblatt Securities lifted their price target on shares of Calix from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.90.

Calix Price Performance

The company has a market capitalization of $3.86 billion, a P/E ratio of 18.91, a P/E/G ratio of 10.13 and a beta of 1.79. The stock’s 50 day simple moving average is $55.57 and its two-hundred day simple moving average is $44.51.

Calix (NYSE:CALXGet Rating) last issued its quarterly earnings results on Monday, July 25th. The communications equipment provider reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. Calix had a net margin of 28.95% and a return on equity of 8.02%. The company had revenue of $202.04 million during the quarter, compared to analysts’ expectations of $196.02 million. During the same quarter in the previous year, the company earned $0.31 EPS. Calix’s revenue was up 19.8% on a year-over-year basis. As a group, equities research analysts expect that Calix, Inc. will post 0.29 earnings per share for the current year.

Insider Transactions at Calix

In other news, Director Donald J. Listwin sold 35,000 shares of Calix stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $58.20, for a total transaction of $2,037,000.00. Following the completion of the sale, the director now owns 700,000 shares in the company, valued at approximately $40,740,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Donald J. Listwin sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $58.20, for a total transaction of $2,037,000.00. Following the completion of the transaction, the director now owns 700,000 shares in the company, valued at $40,740,000. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kira Makagon sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $57.71, for a total transaction of $1,731,300.00. Following the transaction, the director now owns 34,275 shares of the company’s stock, valued at approximately $1,978,010.25. The disclosure for this sale can be found here. Insiders sold a total of 76,000 shares of company stock worth $4,394,050 in the last quarter. 16.64% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CALX. Raymond James & Associates grew its holdings in Calix by 18.7% during the fourth quarter. Raymond James & Associates now owns 4,947 shares of the communications equipment provider’s stock valued at $396,000 after purchasing an additional 780 shares during the period. BNP Paribas Arbitrage SA grew its holdings in Calix by 24.3% during the fourth quarter. BNP Paribas Arbitrage SA now owns 13,771 shares of the communications equipment provider’s stock valued at $1,101,000 after purchasing an additional 2,690 shares during the period. Citigroup Inc. boosted its holdings in shares of Calix by 34.0% in the fourth quarter. Citigroup Inc. now owns 19,677 shares of the communications equipment provider’s stock valued at $1,574,000 after buying an additional 4,998 shares during the period. Pictet Asset Management SA bought a new stake in shares of Calix during the fourth quarter worth $260,000. Finally, Allianz Asset Management GmbH raised its holdings in shares of Calix by 0.3% during the fourth quarter. Allianz Asset Management GmbH now owns 62,642 shares of the communications equipment provider’s stock worth $5,009,000 after acquiring an additional 202 shares during the period. Institutional investors and hedge funds own 81.28% of the company’s stock.

About Calix

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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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