Calix (NYSE:CALX) Sets New 12-Month High - What's Next?

Shares of Calix, Inc. (NYSE:CALX - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $48.29 and last traded at $48.17, with a volume of 283659 shares trading hands. The stock had previously closed at $47.27.

Analysts Set New Price Targets

A number of analysts recently weighed in on CALX shares. UBS Group reiterated a "buy" rating on shares of Calix in a research report on Tuesday, April 22nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $53.00 target price on shares of Calix in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. lifted their price target on shares of Calix from $34.00 to $38.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 23rd. Roth Capital set a $50.00 price target on shares of Calix and gave the company a "buy" rating in a report on Tuesday, April 22nd. Finally, Rosenblatt Securities upped 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. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Calix currently has an average rating of "Moderate Buy" and an average target price of $47.83.

Calix Price Performance

The stock has a market cap of $3.12 billion, a P/E ratio of -106.86 and a beta of 1.35. The stock's 50 day simple moving average is $40.65 and its two-hundred day simple moving average is $37.71.

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

Calix declared that its board has initiated a share buyback program on Monday, April 21st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the communications equipment provider to repurchase up to 4.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board believes its shares are undervalued.

Insider Activity at Calix

In related news, Director Carl Russo sold 25,000 shares of the stock in a transaction on Monday, April 28th. The shares were sold at an average price of $39.59, for a total transaction of $989,750.00. Following the completion of the transaction, the director now owns 2,139,188 shares in the company, valued at approximately $84,690,452.92. This represents a 1.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 16.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Calix

Several institutional investors and hedge funds have recently added to or reduced their stakes in CALX. Summit Investment Advisors Inc. increased its position in shares of Calix by 8.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,224 shares of the communications equipment provider's stock valued at $217,000 after acquiring an additional 465 shares during the last quarter. Atria Investments Inc grew its stake in Calix by 7.1% in the fourth quarter. Atria Investments Inc now owns 7,120 shares of the communications equipment provider's stock valued at $248,000 after purchasing an additional 469 shares in the last quarter. Signaturefd LLC grew its stake in Calix by 91.1% in the first quarter. Signaturefd LLC now owns 1,007 shares of the communications equipment provider's stock valued at $36,000 after purchasing an additional 480 shares in the last quarter. Portside Wealth Group LLC increased its position in shares of Calix by 8.0% during the 1st quarter. Portside Wealth Group LLC now owns 8,414 shares of the communications equipment provider's stock worth $298,000 after purchasing an additional 621 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Calix by 367.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider's stock worth $28,000 after purchasing an additional 640 shares in the last quarter. 98.14% of the stock is owned by institutional investors.

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.