Calix, Inc. (NYSE:CALX) Receives $42.50 Consensus Price Target from Brokerages

Calix, Inc. (NYSE:CALX) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $42.50.

A number of research analysts have commented on CALX shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 target price on shares of Calix in a research report on Tuesday, September 10th. JPMorgan Chase & Co. boosted their price target on shares of Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Craig Hallum boosted their price target on shares of Calix from $41.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Roth Mkm boosted their price target on shares of Calix from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $45.00 price target on shares of Calix in a research note on Thursday, October 3rd.

Insider Activity

In related news, Director Carl Russo sold 25,000 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $37.56, for a total transaction of $939,000.00. Following the completion of the sale, the director now directly owns 3,723,381 shares of the company’s stock, valued at $139,850,190.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 16.69% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CALX. Wellington Management Group LLP raised its stake in shares of Calix by 10.5% during the 4th quarter. Wellington Management Group LLP now owns 1,755,497 shares of the communications equipment provider’s stock worth $76,698,000 after buying an additional 166,695 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Calix by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 6,422,915 shares of the communications equipment provider’s stock valued at $280,617,000 after acquiring an additional 58,069 shares during the last quarter. Thompson Investment Management Inc. increased its stake in shares of Calix by 42.6% during the 1st quarter. Thompson Investment Management Inc. now owns 55,950 shares of the communications equipment provider’s stock valued at $1,855,000 after acquiring an additional 16,725 shares during the last quarter. Harbour Capital Advisors LLC grew its holdings in shares of Calix by 52.0% during the 1st quarter. Harbour Capital Advisors LLC now owns 10,450 shares of the communications equipment provider’s stock worth $335,000 after purchasing an additional 3,575 shares during the period. Finally, Congress Wealth Management LLC DE grew its holdings in shares of Calix by 41.0% during the 1st quarter. Congress Wealth Management LLC DE now owns 175,807 shares of the communications equipment provider’s stock worth $5,830,000 after purchasing an additional 51,084 shares during the period. Hedge funds and other institutional investors own 98.14% of the company’s stock.

Calix Trading Up 2.3 %

Shares of CALX stock opened at $37.91 on Friday. The company’s 50-day moving average price is $37.45 and its 200-day moving average price is $35.03. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 122.29 and a beta of 1.74. Calix has a twelve month low of $26.76 and a twelve month high of $45.15.

Calix (NYSE:CALX) last announced its quarterly earnings results on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. Calix had a net margin of 0.52% and a return on equity of 4.17%. The firm had revenue of $198.14 million for the quarter, compared to analysts’ expectations of $200.77 million. During the same quarter in the previous year, the company posted $0.15 EPS. The company’s revenue was down 24.1% compared to the same quarter last year. As a group, equities research analysts predict that Calix will post -0.36 EPS for the current year.

Calix Company Profile

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.