Calix (NYSE:CALX) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Calix (NYSE:CALX) in a research note released on Wednesday, Benzinga reports. The brokerage currently has a $50.00 price target on the communications equipment provider’s stock.

Several other equities analysts have also recently issued reports on the stock. Rosenblatt Securities decreased their target price on shares of Calix from $57.00 to $45.00 and set a buy rating for the company in a research note on Tuesday, January 30th. StockNews.com raised shares of Calix from a sell rating to a hold rating in a report on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $54.60.

Calix Stock Performance

NYSE CALX opened at $29.18 on Wednesday. The firm has a market capitalization of $1.91 billion, a P/E ratio of 64.84 and a beta of 1.65. The stock has a 50-day simple moving average of $33.58 and a two-hundred day simple moving average of $37.98. Calix has a fifty-two week low of $29.08 and a fifty-two week high of $53.90.

Calix (NYSE:CALX) last announced its quarterly earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.07. Calix had a return on equity of 7.92% and a net margin of 3.06%. The company had revenue of $264.73 million during the quarter, compared to analysts’ expectations of $264.41 million. During the same period last year, the business earned $0.18 earnings per share. Calix’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, analysts forecast that Calix will post 0.45 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Captrust Financial Advisors raised its position in Calix by 31.7% during the second quarter. Captrust Financial Advisors now owns 847 shares of the communications equipment provider’s stock worth $29,000 after acquiring an additional 204 shares during the period. Coppell Advisory Solutions Corp. purchased a new stake in shares of Calix during the fourth quarter worth about $45,000. Advisors Asset Management Inc. raised its position in shares of Calix by 102.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 996 shares of the communications equipment provider’s stock worth $46,000 after purchasing an additional 503 shares during the last quarter. TFO Wealth Partners LLC boosted its holdings in Calix by 13,787.5% in the 4th quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock worth $49,000 after buying an additional 1,103 shares during the last quarter. Finally, KBC Group NV purchased a new stake in Calix during the 4th quarter worth approximately $50,000. Hedge funds and other institutional investors 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.