Calix (NYSE:CALX) Given “Buy” Rating at Needham & Company LLC

Calix (NYSE:CALX)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a report released on Thursday,Benzinga reports. They currently have a $45.00 price objective on the communications equipment provider’s stock. Needham & Company LLC’s price target points to a potential upside of 22.29% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. StockNews.com upgraded shares of Calix from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $45.00 target price on shares of Calix in a research report on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

Calix Price Performance

Shares of CALX opened at $36.80 on Thursday. The company has a 50-day moving average of $35.48 and a two-hundred day moving average of $36.24. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of -153.33 and a beta of 1.68. Calix has a one year low of $26.76 and a one year high of $41.97.

Calix (NYSE:CALX) last issued its earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.31). Calix had a negative net margin of 1.79% and a positive return on equity of 1.33%. Analysts anticipate that Calix will post -0.34 earnings per share for the current year.

Hedge Funds Weigh In On Calix

Several large investors have recently bought and sold shares of the stock. Thompson Investment Management Inc. lifted its stake in shares of Calix by 4.6% in the fourth quarter. Thompson Investment Management Inc. now owns 90,940 shares of the communications equipment provider’s stock valued at $3,171,000 after buying an additional 4,000 shares during the period. Yorktown Management & Research Co Inc bought a new stake in shares of Calix in the 4th quarter worth approximately $314,000. Pacer Advisors Inc. grew its holdings in shares of Calix by 29.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider’s stock worth $54,000 after purchasing an additional 358 shares in the last quarter. KBC Group NV increased its position in shares of Calix by 57.8% during the fourth quarter. KBC Group NV now owns 2,772 shares of the communications equipment provider’s stock valued at $97,000 after purchasing an additional 1,015 shares during the period. Finally, Inspire Investing LLC increased its position in shares of Calix by 9.2% during the fourth quarter. Inspire Investing LLC now owns 11,613 shares of the communications equipment provider’s stock valued at $405,000 after purchasing an additional 978 shares during the period. 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.