Calix (NYSE:CALX) Stock Rating Reaffirmed by Rosenblatt Securities

Calix (NYSE:CALX)‘s stock had its “buy” rating reissued by analysts at Rosenblatt Securities in a research note issued on Thursday, Benzinga reports. They presently have a $45.00 target price on the communications equipment provider’s stock. Rosenblatt Securities’ price objective points to a potential upside of 19.27% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. StockNews.com raised shares of Calix from a “sell” rating to a “hold” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. increased their price target on Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Roth Mkm boosted their price objective on Calix from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 target price on shares of Calix in a research note on Tuesday, September 10th. Finally, Craig Hallum boosted their price target on Calix from $41.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.50.

Calix Stock Performance

CALX opened at $37.73 on Thursday. Calix has a 1 year low of $26.76 and a 1 year high of $46.29. The company’s 50 day simple moving average is $37.40 and its 200 day simple moving average is $34.50. The stock has a market capitalization of $2.47 billion, a PE ratio of 121.71 and a beta of 1.74.

Calix (NYSE:CALX) last released its quarterly earnings data on Monday, July 22nd. The communications equipment provider reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. Calix had a return on equity of 4.17% and a net margin of 0.52%. The business had revenue of $198.14 million during the quarter, compared to the consensus estimate of $200.77 million. During the same period in the prior year, the firm posted $0.15 EPS. The business’s revenue for the quarter was down 24.1% on a year-over-year basis. As a group, sell-side analysts expect that Calix will post -0.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Calix news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $37.56, for a total transaction of $939,000.00. Following the completion of the transaction, the director now directly owns 3,723,381 shares of the company’s stock, valued at $139,850,190.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 16.69% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Headlands Technologies LLC bought a new position in shares of Calix in the first quarter valued at approximately $48,000. TFO Wealth Partners LLC boosted its stake 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 valued at $49,000 after purchasing an additional 1,103 shares in the last quarter. Ariadne Wealth Management LP bought a new position in Calix during the 2nd quarter valued at $60,000. Nisa Investment Advisors LLC increased its position in shares of Calix by 13.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,520 shares of the communications equipment provider’s stock valued at $89,000 after purchasing an additional 303 shares during the period. Finally, EntryPoint Capital LLC raised its stake in shares of Calix by 8,924.4% in the 1st quarter. EntryPoint Capital LLC now owns 3,700 shares of the communications equipment provider’s stock worth $123,000 after buying an additional 3,659 shares in the last quarter. Institutional investors 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.