Calix, Inc (NYSE:CALX) Receives Consensus Rating of "Moderate Buy" from Brokerages

Shares of Calix, Inc (NYSE:CALX - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the eight research firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $50.83.

Several research analysts have recently commented on CALX shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $53.00 price objective on shares of Calix in a research note on Tuesday, April 22nd. Wall Street Zen cut shares of Calix from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Rosenblatt Securities reissued a "buy" rating and issued a $56.00 price target on shares of Calix in a report on Tuesday, July 15th. Roth Capital set a $50.00 price target on Calix and gave the company a "buy" rating in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. increased their target price on Calix from $38.00 to $52.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th.

Insider Activity

In related news, Director Carl Russo sold 25,000 shares of the stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $39.59, for a total value of $989,750.00. Following the completion of the transaction, the director owned 2,139,188 shares of the company's stock, valued at $84,690,452.92. This represents a 1.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Cory Sindelar sold 10,000 shares of the stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $52.00, for a total transaction of $520,000.00. Following the sale, the chief financial officer directly owned 76,285 shares in the company, valued at $3,966,820. This trade represents a 11.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Calix

Hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC lifted its position in shares of Calix by 77.8% during the fourth quarter. Millennium Management LLC now owns 2,031,212 shares of the communications equipment provider's stock worth $70,828,000 after purchasing an additional 889,102 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Calix by 135.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 947,738 shares of the communications equipment provider's stock valued at $50,410,000 after acquiring an additional 545,490 shares in the last quarter. Nuveen LLC bought a new position in Calix in the 1st quarter worth $15,207,000. Vanguard Group Inc. lifted its stake in shares of Calix by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 7,977,769 shares of the communications equipment provider's stock worth $278,185,000 after buying an additional 412,982 shares during the period. Finally, Balyasny Asset Management L.P. boosted its holdings in Calix by 711.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 436,036 shares of the communications equipment provider's stock valued at $15,205,000 after purchasing an additional 382,301 shares during the last quarter. 98.14% of the stock is owned by institutional investors and hedge funds.

Calix Stock Up 0.3%

NYSE:CALX opened at $53.82 on Tuesday. The company has a market capitalization of $3.49 billion, a P/E ratio of -103.51 and a beta of 1.37. The stock's fifty day moving average is $48.75 and its two-hundred day moving average is $41.15. Calix has a 52 week low of $28.61 and a 52 week high of $55.75.

Calix (NYSE:CALX - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The communications equipment provider reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.41. Calix had a negative return on equity of 4.14% and a negative net margin of 4.20%. The business had revenue of $241.90 million during the quarter, compared to the consensus estimate of $223.81 million. During the same period in the prior year, the business posted $0.09 earnings per share. Calix's quarterly revenue was up 22.1% on a year-over-year basis. Sell-side analysts anticipate that Calix will post -0.43 earnings per share for the current fiscal year.

Calix declared that its board has authorized a stock buyback plan on Monday, April 21st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the communications equipment provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board 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.

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