Needham & Company LLC Reiterates Buy Rating for Calix (NYSE:CALX)

Calix (NYSE:CALX)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports. They presently have a $45.00 price objective on the communications equipment provider’s stock. Needham & Company LLC’s price objective points to a potential upside of 13.14% from the stock’s current price.

A number of other equities research analysts have also weighed in on the company. Rosenblatt Securities restated a “buy” rating and set a $45.00 price target on shares of Calix in a research note on Thursday, October 3rd. StockNews.com upgraded shares of Calix from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Calix currently has a consensus rating of “Moderate Buy” and an average target price of $43.17.

Calix Stock Down 1.0 %

NYSE CALX opened at $39.77 on Thursday. Calix has a 52 week low of $26.76 and a 52 week high of $41.97. The company has a 50 day moving average price of $35.78 and a 200 day moving average price of $36.30. The firm has a market cap of $2.64 billion, a PE ratio of -88.38 and a beta of 1.68.

Calix (NYSE:CALX) last issued its quarterly earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.31). Calix had a negative return on equity of 3.46% and a negative net margin of 3.58%. On average, equities research analysts anticipate that Calix will post -0.34 earnings per share for the current fiscal year.

Institutional Trading of Calix

Several institutional investors and hedge funds have recently bought and sold shares of CALX. Millennium Management LLC raised its holdings in shares of Calix by 75.6% during the second quarter. Millennium Management LLC now owns 179,801 shares of the communications equipment provider’s stock worth $6,370,000 after purchasing an additional 77,387 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Calix by 2.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,959 shares of the communications equipment provider’s stock valued at $1,168,000 after buying an additional 857 shares during the last quarter. Mackenzie Financial Corp acquired a new position in shares of Calix in the 2nd quarter valued at about $248,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Calix in the second quarter worth about $430,000. Finally, Creative Planning acquired a new stake in Calix during the second quarter worth about $513,000. 98.14% of the stock is currently owned by institutional investors and hedge funds.

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.