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

Calix, Inc (NYSE:CALX) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $48.50.

A number of brokerages recently issued reports on CALX. JPMorgan Chase & Co. lifted their target price on Calix from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, April 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $53.00 price target on shares of Calix in a research report on Tuesday, April 22nd. UBS Group reaffirmed a “buy” rating on shares of Calix in a research report on Tuesday, April 22nd. Roth Capital set a $50.00 price target on Calix and gave the stock a “buy” rating in a research report on Tuesday, April 22nd. Finally, Rosenblatt Securities boosted their price target on Calix from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, June 12th.

Insider Buying and Selling

In related news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $39.59, for a total transaction of $989,750.00. Following the transaction, the director now directly owns 2,139,188 shares of the company’s stock, valued at approximately $84,690,452.92. The trade was a 1.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Summit Investment Advisors Inc. increased its holdings in shares of Calix by 8.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,224 shares of the communications equipment provider’s stock worth $217,000 after acquiring an additional 465 shares during the last quarter. Atria Investments Inc increased its holdings in shares of Calix by 7.1% during the 4th quarter. Atria Investments Inc now owns 7,120 shares of the communications equipment provider’s stock worth $248,000 after acquiring an additional 469 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Calix by 91.1% during the 1st quarter. Signaturefd LLC now owns 1,007 shares of the communications equipment provider’s stock worth $36,000 after acquiring an additional 480 shares during the last quarter. Portside Wealth Group LLC increased its holdings in shares of Calix by 8.0% during the 1st quarter. Portside Wealth Group LLC now owns 8,414 shares of the communications equipment provider’s stock worth $298,000 after acquiring an additional 621 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Calix by 367.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider’s stock valued at $28,000 after buying an additional 640 shares in the last quarter. 98.14% of the stock is owned by institutional investors and hedge funds.

Calix Stock Performance

Shares of Calix stock opened at $50.06 on Friday. The business’s 50 day simple moving average is $44.79 and its 200 day simple moving average is $39.18. Calix has a 52-week low of $28.61 and a 52-week high of $50.10. The firm has a market cap of $3.25 billion, a PE ratio of -96.28 and a beta of 1.35.

Calix (NYSE:CALX) last announced its earnings results on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. Calix had a negative return on equity of 4.14% and a negative net margin of 4.20%. The business had revenue of $220.20 million for the quarter, compared to analyst estimates of $206.98 million. During the same quarter last year, the firm earned $0.21 EPS. As a group, equities research analysts predict that Calix will post -0.43 EPS for the current year.

Calix declared that its board has authorized a stock buyback program on Monday, April 21st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the communications equipment provider to reacquire up to 4.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.