Calix (NYSE:CALX) Given “Buy” Rating at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Calix (NYSE:CALX) in a report released on Tuesday,Benzinga reports. Rosenblatt Securities currently has a $85.00 price target on the communications equipment provider’s stock.

CALX has been the topic of several other reports. Needham & Company LLC reissued a “buy” rating and set a $82.00 price target on shares of Calix in a report on Monday, November 24th. Zacks Research cut Calix from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Roth Mkm set a $85.00 price target on Calix and gave the company a “buy” rating in a research note on Thursday, October 30th. UBS Group reiterated an “outperform” rating and issued a $75.00 price objective on shares of Calix in a research note on Friday, October 31st. Finally, Craig Hallum reissued a “buy” rating and issued a $75.00 price objective on shares of Calix in a report on Friday, October 31st. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $82.00.

Calix Stock Performance

CALX opened at $56.01 on Tuesday. The company’s 50-day simple moving average is $54.72 and its two-hundred day simple moving average is $57.82. The stock has a market capitalization of $3.71 billion, a P/E ratio of -466.74 and a beta of 1.55. Calix has a 52-week low of $28.60 and a 52-week high of $71.22.

Calix (NYSE:CALX) last announced its quarterly earnings results on Wednesday, October 29th. The communications equipment provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.10. The firm had revenue of $265.44 million during the quarter, compared to analyst estimates of $246.21 million. Calix had a negative net margin of 0.78% and a negative return on equity of 0.69%. The business’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.13 earnings per share. Research analysts forecast that Calix will post -0.43 EPS for the current fiscal year.

Insider Transactions at Calix

In other news, insider Shane Todd Marshall Eleniak sold 50,000 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $65.34, for a total transaction of $3,267,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Carl Russo sold 420,000 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $64.09, for a total transaction of $26,917,800.00. Following the completion of the transaction, the director directly owned 1,694,188 shares of the company’s stock, valued at $108,580,508.92. This represents a 19.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 530,000 shares of company stock valued at $34,099,800 over the last three months. Corporate insiders own 16.90% of the company’s stock.

Institutional Trading of Calix

Several institutional investors and hedge funds have recently added to or reduced their stakes in CALX. Clearstead Advisors LLC boosted its stake in Calix by 139.3% in the 3rd quarter. Clearstead Advisors LLC now owns 438 shares of the communications equipment provider’s stock worth $27,000 after purchasing an additional 255 shares during the period. SouthState Corp lifted its holdings in shares of Calix by 10,000.0% in the second quarter. SouthState Corp now owns 505 shares of the communications equipment provider’s stock worth $27,000 after buying an additional 500 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Calix by 63.0% during the fourth quarter. Farther Finance Advisors LLC now owns 551 shares of the communications equipment provider’s stock worth $29,000 after acquiring an additional 213 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Calix during the second quarter valued at $30,000. Finally, Whittier Trust Co. grew its stake in Calix by 541.0% during the third quarter. Whittier Trust Co. now owns 641 shares of the communications equipment provider’s stock valued at $38,000 after acquiring an additional 541 shares in the last quarter. Institutional investors own 98.14% of the company’s stock.

Calix Company Profile

Calix, Inc is a provider of cloud and software platforms, systems, and services that enable broadband service providers to transform their networks and subscriber experiences. The company’s flagship Calix Cloud platform delivers real-time analytics, automation and intelligence designed to simplify network operations, improve service agility and drive revenue growth. Calix also offers a comprehensive suite of premises and access systems, including broadband access nodes, fiber-to-the-home optics and residential gateways under the GigaSpire brand.

Through its software-defined network architecture, Calix helps service providers virtualize key network functions and introduce new services with minimal capital expenditure.