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

Needham & Company LLC reaffirmed their buy rating on shares of Calix (NYSE:CALX) in a research note released on Wednesday morning, Benzinga reports. Needham & Company LLC currently has a $50.00 price objective on the communications equipment provider’s stock.

Other analysts have also recently issued research reports about the stock. Rosenblatt Securities cut their price target on shares of Calix from $57.00 to $45.00 and set a buy rating on the stock in a report on Tuesday, January 30th. StockNews.com raised shares of Calix from a sell rating to a hold rating in a research note on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $54.60.

Calix Trading Down 0.6 %

Shares of NYSE:CALX opened at $29.28 on Wednesday. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 65.06 and a beta of 1.65. Calix has a 12 month low of $28.95 and a 12 month high of $53.90. The company has a 50-day moving average price of $33.38 and a 200-day moving average price of $37.80.

Calix (NYSE:CALX) last released its quarterly earnings data on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.07. Calix had a return on equity of 7.92% and a net margin of 3.06%. The business had revenue of $264.73 million during the quarter, compared to analysts’ expectations of $264.41 million. During the same quarter last year, the business posted $0.18 EPS. The business’s revenue was up 8.3% on a year-over-year basis. As a group, research analysts forecast that Calix will post 0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Calix

Institutional investors have recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System purchased a new stake in shares of Calix in the 1st quarter worth about $700,000. Norden Group LLC boosted its stake in Calix by 1,634.9% during the first quarter. Norden Group LLC now owns 143,299 shares of the communications equipment provider’s stock worth $4,752,000 after acquiring an additional 135,039 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Calix by 463.7% during the first quarter. State of Alaska Department of Revenue now owns 35,711 shares of the communications equipment provider’s stock worth $1,184,000 after acquiring an additional 29,376 shares in the last quarter. Congress Wealth Management LLC DE grew its holdings in Calix by 41.0% in the first quarter. Congress Wealth Management LLC DE now owns 175,807 shares of the communications equipment provider’s stock worth $5,830,000 after purchasing an additional 51,084 shares during the period. Finally, Harbour Capital Advisors LLC increased its stake in shares of Calix by 52.0% during the first quarter. Harbour Capital Advisors LLC now owns 10,450 shares of the communications equipment provider’s stock valued at $335,000 after purchasing an additional 3,575 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.