Calix’s (CALX) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Calix (NYSE:CALX) in a research report report published on Tuesday morning, Benzinga reports. Needham & Company LLC currently has a $50.00 price objective on the communications equipment provider’s stock.

Other analysts have also recently issued research reports about the company. Roth Mkm reissued a buy rating and issued a $50.00 price objective on shares of Calix in a research report on Monday. StockNews.com raised Calix from a sell rating to a hold rating in a research report on Wednesday, February 28th. Finally, Rosenblatt Securities lowered their price objective on Calix from $45.00 to $35.00 and set a buy rating for the company in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $44.25.

Calix Trading Down 5.3 %

Shares of NYSE CALX opened at $28.00 on Tuesday. The stock has a market capitalization of $1.83 billion, a PE ratio of 62.22 and a beta of 1.65. The stock’s fifty day simple moving average is $33.16 and its two-hundred day simple moving average is $37.51. Calix has a 12-month low of $26.76 and a 12-month high of $53.90.

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

Institutional Trading of Calix

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. TFO Wealth Partners LLC lifted its position in Calix by 13,787.5% during the 4th quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock worth $49,000 after acquiring an additional 1,103 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its position in Calix by 194.4% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,531 shares of the communications equipment provider’s stock worth $70,000 after acquiring an additional 1,011 shares during the period. Assetmark Inc. lifted its position in Calix by 31.9% during the 3rd quarter. Assetmark Inc. now owns 1,578 shares of the communications equipment provider’s stock worth $72,000 after acquiring an additional 382 shares during the period. Quadrant Capital Group LLC lifted its position in Calix by 18.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,232 shares of the communications equipment provider’s stock worth $98,000 after acquiring an additional 348 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Calix during the 3rd quarter worth about $111,000. Institutional investors and hedge funds 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.