Calix, Inc. (NYSE:CALX) Receives Average Rating of “Moderate Buy” from Brokerages

Calix, Inc. (NYSE:CALX – Get Rating) has received a consensus rating of “Moderate Buy” from the thirteen analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $81.22.

A number of brokerages have issued reports on CALX. Cowen lifted their price target on Calix from $71.00 to $90.00 in a report on Wednesday, October 26th. Craig Hallum boosted their target price on Calix from $69.00 to $95.00 in a research report on Wednesday, October 26th. Northland Securities boosted their target price on Calix from $80.00 to $85.00 in a research report on Monday, December 5th. Westpark Capital assumed coverage on Calix in a report on Tuesday, September 13th. They issued a “buy” rating on the stock. Finally, Roth Capital initiated coverage on Calix in a research note on Monday, October 3rd. They issued a “buy” rating on the stock.

Insider Buying and Selling at Calix

In related news, EVP John Matthew Collins sold 5,000 shares of the firm’s stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $70.65, for a total transaction of $353,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP John Matthew Collins sold 5,000 shares of the firm’s stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $70.65, for a total value of $353,250.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kathleen M. Crusco sold 24,176 shares of Calix stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $73.21, for a total value of $1,769,924.96. Following the transaction, the director now owns 54,705 shares in the company, valued at $4,004,953.05. The disclosure for this sale can be found here. Insiders sold a total of 32,176 shares of company stock valued at $2,346,735 in the last quarter. Corporate insiders own 16.64% of the company’s stock.

Hedge Funds Weigh In On Calix

A number of hedge funds and other institutional investors have recently bought and sold shares of CALX. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Calix in the third quarter valued at approximately $494,000. Retirement Systems of Alabama boosted its position in Calix by 1.5% during the third quarter. Retirement Systems of Alabama now owns 74,308 shares of the communications equipment provider’s stock valued at $4,543,000 after acquiring an additional 1,109 shares during the last quarter. BNP Paribas Arbitrage SNC boosted its position in Calix by 51.8% during the third quarter. BNP Paribas Arbitrage SNC now owns 22,747 shares of the communications equipment provider’s stock valued at $1,391,000 after acquiring an additional 7,763 shares during the last quarter. Neuberger Berman Group LLC boosted its position in shares of Calix by 18.6% during the 3rd quarter. Neuberger Berman Group LLC now owns 133,695 shares of the communications equipment provider’s stock worth $8,174,000 after purchasing an additional 20,981 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Calix by 3.5% during the 3rd quarter. State Street Corp now owns 1,801,280 shares of the communications equipment provider’s stock worth $110,130,000 after purchasing an additional 61,237 shares in the last quarter. Institutional investors own 81.90% of the company’s stock.

Calix Trading Up 7.1 %

Shares of CALX stock opened at $69.45 on Monday. The company has a market capitalization of $4.54 billion, a P/E ratio of 97.82 and a beta of 1.63. The business’s 50 day moving average is $68.98 and its two-hundred day moving average is $59.39. Calix has a 12-month low of $31.59 and a 12-month high of $77.44.

Calix (NYSE:CALX – Get Rating) last posted its earnings results on Monday, October 24th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.08. Calix had a return on equity of 6.91% and a net margin of 6.12%. The company had revenue of $236.33 million during the quarter, compared to analysts’ expectations of $215.25 million. During the same quarter last year, the firm earned $0.25 earnings per share. The firm’s quarterly revenue was up 37.2% compared to the same quarter last year. On average, research analysts predict that Calix will post 0.44 earnings per share for the current fiscal year.

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.