Calix, Inc. (NYSE:CALX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Calix, Inc. (NYSE:CALX – Get Rating) have received an average rating of “Moderate Buy” from the fifteen brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $79.00.

CALX has been the topic of several recent research reports. TD Cowen lifted their price target on shares of Calix from $78.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday, April 21st. Roth Mkm reduced their price objective on Calix from $74.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, April 21st. Rosenblatt Securities cut their price objective on shares of Calix from $75.00 to $70.00 in a research report on Friday, April 21st. Cowen cut their price objective on shares of Calix from $90.00 to $78.00 in a research report on Friday, January 27th. Finally, StockNews.com started coverage on shares of Calix in a research report on Thursday, March 16th. They set a “hold” rating on the stock.

Insider Buying and Selling

In related news, insider John Matthew Collins sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $44.10, for a total transaction of $220,500.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 16.69% of the stock is currently owned by corporate insiders.

Institutional Trading of Calix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CALX. BlackRock Inc. increased its stake in Calix by 45.9% in the first quarter. BlackRock Inc. now owns 7,446,078 shares of the communications equipment provider’s stock valued at $319,511,000 after purchasing an additional 2,340,968 shares in the last quarter. Vanguard Group Inc. grew its stake in Calix by 35.2% in the first quarter. Vanguard Group Inc. now owns 5,586,440 shares of the communications equipment provider’s stock valued at $239,713,000 after acquiring an additional 1,453,368 shares during the period. Neuberger Berman Group LLC grew its stake in Calix by 949.4% in the first quarter. Neuberger Berman Group LLC now owns 1,184,298 shares of the communications equipment provider’s stock valued at $62,255,000 after acquiring an additional 1,071,443 shares during the period. State Street Corp grew its stake in Calix by 58.5% in the first quarter. State Street Corp now owns 1,732,618 shares of the communications equipment provider’s stock valued at $74,347,000 after acquiring an additional 639,780 shares during the period. Finally, Lord Abbett & CO. LLC grew its stake in Calix by 32.7% in the fourth quarter. Lord Abbett & CO. LLC now owns 2,276,727 shares of the communications equipment provider’s stock valued at $155,796,000 after acquiring an additional 561,336 shares during the period. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Calix Price Performance

NYSE CALX opened at $43.20 on Friday. The company’s 50 day simple moving average is $49.26 and its 200 day simple moving average is $58.32. The firm has a market capitalization of $2.86 billion, a PE ratio of 70.82 and a beta of 1.55. Calix has a 12 month low of $31.59 and a 12 month high of $77.44.

About Calix

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Calix, Inc provides cloud and software platforms, systems and services required to realize the unified access network. The firm offers broadband communications access systems and software for fiber and copper-based network architectures that enable communications service providers to transform their networks and connect to their residential and business subscribers.