Brokerages Set Calix, Inc. (NYSE:CALX) Target Price at $43.17

Calix, Inc. (NYSE:CALX) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $41.33.

A number of research analysts recently issued reports on CALX shares. JPMorgan Chase & Co. decreased their price objective on shares of Calix from $45.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price target on shares of Calix in a research note on Thursday, January 30th.

Calix Stock Performance

NYSE:CALX opened at $33.80 on Friday. The company has a market cap of $2.25 billion, a price-to-earnings ratio of -75.12 and a beta of 1.75. Calix has a fifty-two week low of $26.76 and a fifty-two week high of $42.50. The stock has a fifty day moving average price of $35.41 and a 200-day moving average price of $35.86.

Calix (NYSE:CALX) last posted 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%. Research analysts predict that Calix will post -0.43 EPS for the current fiscal year.

Insider Transactions at Calix

In other news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $38.15, for a total transaction of $953,750.00. Following the sale, the director now directly owns 2,164,188 shares in the company, valued at approximately $82,563,772.20. The trade was a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 16.69% of the company’s stock.

Institutional Investors Weigh In On Calix

Several hedge funds have recently added to or reduced their stakes in CALX. Vanguard Group Inc. raised its stake in shares of Calix by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 7,977,769 shares of the communications equipment provider’s stock valued at $278,185,000 after acquiring an additional 412,982 shares during the last quarter. Millennium Management LLC raised its position in Calix by 77.8% during the 4th quarter. Millennium Management LLC now owns 2,031,212 shares of the communications equipment provider’s stock worth $70,828,000 after purchasing an additional 889,102 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Calix by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,832,407 shares of the communications equipment provider’s stock worth $63,897,000 after buying an additional 74,720 shares during the period. Congress Asset Management Co. lifted its holdings in Calix by 8.1% during the 1st quarter. Congress Asset Management Co. now owns 1,378,497 shares of the communications equipment provider’s stock worth $48,854,000 after buying an additional 103,175 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Calix by 3.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,373,246 shares of the communications equipment provider’s stock valued at $47,885,000 after buying an additional 45,195 shares during the last quarter. 98.14% of the stock is currently owned by institutional investors and hedge funds.

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.