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

Needham & Company LLC reiterated their buy rating on shares of Calix (NYSE:CALX) in a report issued on Tuesday, Benzinga reports. The firm currently has a $50.00 price objective on the communications equipment provider’s stock.

Other research analysts also recently issued reports about the company. Roth Mkm reissued a buy rating and issued a $50.00 price target on shares of Calix in a report on Monday, April 22nd. Rosenblatt Securities decreased their target price on shares of Calix from $45.00 to $35.00 and set a buy rating for the company in a research note on Tuesday. Finally, StockNews.com raised shares of Calix from a sell rating to a hold rating in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Calix currently has a consensus rating of Hold and a consensus price target of $41.33.

Calix Stock Up 0.6 %

Shares of NYSE:CALX opened at $28.41 on Tuesday. The business has a 50-day moving average price of $32.79 and a 200-day moving average price of $37.27. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 91.65 and a beta of 1.65. Calix has a 52-week low of $26.76 and a 52-week high of $53.90.

Calix (NYSE:CALX) last announced its quarterly earnings results 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. The company had revenue of $264.73 million for the quarter, compared to the consensus estimate of $264.41 million. Calix had a return on equity of 6.64% and a net margin of 2.19%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $0.18 EPS. As a group, equities analysts anticipate that Calix will post 0.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Calix

A number of institutional investors have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System lifted its holdings in Calix by 1.5% during the first quarter. New York State Teachers Retirement System now owns 61,300 shares of the communications equipment provider’s stock valued at $2,033,000 after purchasing an additional 903 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Calix by 175.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 607,001 shares of the communications equipment provider’s stock worth $20,128,000 after purchasing an additional 386,318 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Calix by 75.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 29,000 shares of the communications equipment provider’s stock valued at $962,000 after buying an additional 12,500 shares in the last quarter. Maryland State Retirement & Pension System acquired a new stake in Calix in the 1st quarter worth about $700,000. Finally, Norden Group LLC increased its stake in Calix by 1,634.9% during the 1st quarter. Norden Group LLC now owns 143,299 shares of the communications equipment provider’s stock worth $4,752,000 after buying an additional 135,039 shares in the last quarter. Institutional investors and hedge funds 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.