Calix, Inc (CALX) – What Are Brokerages Thinking About This Stock?

Calix, Inc (NYSE:CALX) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $63.86.

Several equities research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Calix from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 24th. Rosenblatt Securities decreased their price target on shares of Calix from $70.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, July 21st. Roth Capital reiterated a “buy” rating on shares of Calix in a research report on Tuesday, July 21st. Zacks Research upgraded shares of Calix from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Finally, Northland Securities raised shares of Calix from a “market perform” rating to an “outperform” rating and set a $52.00 price objective for the company in a research note on Tuesday, July 21st.

Calix Trading Down 2.4%

Shares of NYSE:CALX opened at $35.63 on Thursday. The stock has a 50 day moving average of $36.59 and a 200 day moving average of $39.19. The company has a market cap of $2.24 billion, a PE ratio of 48.15 and a beta of 1.32. Calix has a 12-month low of $32.35 and a 12-month high of $71.22.

Calix (NYSE:CALX) last issued its quarterly earnings results on Monday, July 20th. The communications equipment provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.07. The business had revenue of $293.33 million during the quarter, compared to analyst estimates of $289.96 million. Calix had a return on equity of 6.17% and a net margin of 4.61%. Calix’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.33 EPS. Equities research analysts predict that Calix will post 0.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Calix

In related news, Director Carl Russo sold 75,000 shares of the stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $36.20, for a total value of $2,715,000.00. Following the sale, the director directly owned 1,569,188 shares of the company’s stock, valued at $56,804,605.60. This represents a 4.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 17.44% of the company’s stock.

Institutional Investors Weigh In On Calix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CALX. Harbor Investment Advisory LLC purchased a new position in shares of Calix during the 2nd quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd increased its holdings in Calix by 24,733.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 745 shares of the communications equipment provider’s stock valued at $39,000 after purchasing an additional 742 shares during the last quarter. OV Management LLC acquired a new stake in Calix in the 2nd quarter valued at approximately $62,000. Nykredit A S acquired a new stake in Calix in the 2nd quarter valued at approximately $105,000. Finally, Assetmark Inc. raised its position in Calix by 4,313.8% in the first quarter. Assetmark Inc. now owns 2,560 shares of the communications equipment provider’s stock valued at $125,000 after purchasing an additional 2,502 shares during the period. Institutional investors own 98.14% of the company’s stock.

Calix Company Profile

Calix, Inc (NYSE: CALX) provides cloud and software platforms, broadband access systems, and related services to communications service providers. Its solutions are designed to help providers deploy, manage, and monetize broadband networks while improving the subscriber experience across residential, business, and community markets.

The company’s offerings include the AXOS broadband access platform, Calix Cloud software, and a portfolio of hardware and subscriber-premises equipment. These products support fiber, fixed wireless, and other broadband networks and can provide capabilities such as network automation, analytics, Wi-Fi management, cybersecurity, and connected-home services.