Calix’s (CALX) Buy Rating Reaffirmed at Needham & Company LLC

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

Several other analysts also recently commented on the stock. Roth Mkm reissued a buy rating and set a $50.00 price objective on shares of Calix in a research report on Monday. Rosenblatt Securities dropped their price target on shares of Calix from $45.00 to $35.00 and set a buy rating on the stock in a report on Tuesday. Finally, StockNews.com raised shares of Calix from a sell rating to a hold rating in a report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $44.25.

Calix Stock Performance

Shares of CALX stock opened at $28.00 on Tuesday. Calix has a one year low of $26.76 and a one year high of $53.90. The company’s 50-day moving average is $33.16 and its 200 day moving average is $37.51. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 62.22 and a beta of 1.65.

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

Institutional Trading of Calix

A number of institutional investors have recently made changes to their positions in the stock. TFO Wealth Partners LLC boosted its holdings in shares of Calix by 13,787.5% in the fourth quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock worth $49,000 after buying an additional 1,103 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Calix by 194.4% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,531 shares of the communications equipment provider’s stock worth $70,000 after buying an additional 1,011 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Calix by 31.9% in the third quarter. Assetmark Inc. now owns 1,578 shares of the communications equipment provider’s stock worth $72,000 after buying an additional 382 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Calix by 18.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,232 shares of the communications equipment provider’s stock worth $98,000 after buying an additional 348 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Calix in the third quarter worth approximately $111,000. Hedge funds and other institutional investors own 98.14% of the company’s stock.

Calix Company Profile

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.