Calix (NYSE:CALX) Hits New 52-Week High – Time to Buy?

Calix, Inc. (NYSE:CALX) reached a new 52-week high during trading on Wednesday . The company traded as high as $42.00 and last traded at $42.02, with a volume of 426142 shares traded. The stock had previously closed at $40.75.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Calix from $38.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price target on shares of Calix in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.17.

Calix Stock Down 1.6 %

The company has a market cap of $2.72 billion, a P/E ratio of -91.28 and a beta of 1.70. The business has a 50-day moving average price of $36.62 and a two-hundred day moving average price of $36.45.

Calix (NYSE:CALX) last announced its quarterly earnings data on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.31). Calix had a negative return on equity of 3.43% and a negative net margin of 3.58%. As a group, sell-side analysts expect that Calix, Inc. will post -0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Congress Asset Management Co. boosted its holdings in Calix by 30.1% during the third quarter. Congress Asset Management Co. now owns 1,565,471 shares of the communications equipment provider’s stock worth $60,725,000 after buying an additional 361,805 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Calix by 3.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,373,246 shares of the communications equipment provider’s stock worth $47,885,000 after acquiring an additional 45,195 shares during the last quarter. Geode Capital Management LLC grew its holdings in Calix by 1.1% during the third quarter. Geode Capital Management LLC now owns 1,331,565 shares of the communications equipment provider’s stock valued at $51,661,000 after purchasing an additional 14,725 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Calix by 8.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 649,244 shares of the communications equipment provider’s stock valued at $22,639,000 after purchasing an additional 48,098 shares in the last quarter. Finally, Polar Asset Management Partners Inc. raised its holdings in Calix by 5.2% in the third quarter. Polar Asset Management Partners Inc. now owns 560,300 shares of the communications equipment provider’s stock worth $21,734,000 after purchasing an additional 27,900 shares during the period. 98.14% of the stock is currently owned by institutional investors.

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.