Brokerages Set Calix, Inc. (NYSE:CALX) Price Target at $47.83

Shares of Calix, Inc. (NYSE:CALX - Get Free Report) have been assigned an average rating of "Moderate Buy" from the seven ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $47.83.

Several research firms have recently issued reports on CALX. Rosenblatt Securities lifted their price objective on shares of Calix from $51.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. UBS Group reaffirmed a "buy" rating on shares of Calix in a research report on Tuesday, April 22nd. Needham & Company LLC reissued a "buy" rating and issued a $53.00 price target on shares of Calix in a report on Tuesday, April 22nd. Roth Capital set a $50.00 target price on Calix and gave the stock a "buy" rating in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Calix from $34.00 to $38.00 and gave the company a "neutral" rating in a research note on Wednesday, April 23rd.

Insider Buying and Selling

In other Calix news, Director Carl Russo sold 25,000 shares of the company's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $39.59, for a total value of $989,750.00. Following the transaction, the director now directly owns 2,139,188 shares in the company, valued at approximately $84,690,452.92. This represents a 1.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 16.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Calix

Large investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd purchased a new position in shares of Calix in the 4th quarter valued at $512,000. HighTower Advisors LLC increased its position in shares of Calix by 30.5% in the 4th quarter. HighTower Advisors LLC now owns 118,245 shares of the communications equipment provider's stock worth $4,123,000 after purchasing an additional 27,622 shares during the last quarter. Amundi bought a new stake in Calix in the fourth quarter valued at about $330,000. Principal Financial Group Inc. increased its holdings in shares of Calix by 3.8% in the 4th quarter. Principal Financial Group Inc. now owns 287,509 shares of the communications equipment provider's stock valued at $10,025,000 after acquiring an additional 10,393 shares during the last quarter. Finally, TradeLink Capital LLC bought a new stake in Calix during the fourth quarter valued at $299,000. 98.14% of the stock is currently owned by hedge funds and other institutional investors.

Calix Stock Up 0.5%

Shares of CALX traded up $0.25 during trading hours on Monday, reaching $47.52. 727,429 shares of the company traded hands, compared to its average volume of 687,397. Calix has a 12 month low of $28.61 and a 12 month high of $48.27. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of -105.60 and a beta of 1.35. The company's fifty day moving average price is $40.39 and its two-hundred day moving average price is $37.60.

Calix (NYSE:CALX - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.06. Calix had a negative return on equity of 3.43% and a negative net margin of 3.58%. The firm had revenue of $220.20 million for the quarter, compared to analysts' expectations of $206.98 million. During the same period in the prior year, the firm earned $0.21 EPS. On average, analysts expect that Calix will post -0.43 EPS for the current year.

Calix announced that its board has authorized a share buyback plan on Monday, April 21st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the communications equipment provider to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its shares are undervalued.

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.