Calix (NYSE:CALX) Reaches New 12-Month High - Should You Buy?

Calix, Inc (NYSE:CALX - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $49.15 and last traded at $49.08, with a volume of 123141 shares. The stock had previously closed at $48.42.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CALX. Roth Capital set a $50.00 target price on Calix and gave the stock a "buy" rating in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. increased their price objective on shares of Calix from $34.00 to $38.00 and gave the company a "neutral" rating in a report on Wednesday, April 23rd. Rosenblatt Securities boosted their target price on shares of Calix from $52.00 to $56.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. UBS Group reaffirmed a "buy" rating on shares of Calix in a research note on Tuesday, April 22nd. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $53.00 price target on shares of Calix in a research note on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Calix has an average rating of "Moderate Buy" and a consensus target price of $48.50.

Calix Stock Up 2.5%

The business's fifty day moving average is $44.79 and its two-hundred day moving average is $39.18. The stock has a market capitalization of $3.33 billion, a PE ratio of -98.69 and a beta of 1.35.

Calix (NYSE:CALX - Get Free Report) last released 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. Calix had a negative net margin of 4.20% and a negative return on equity of 4.14%. The business had revenue of $220.20 million during the quarter, compared to analyst estimates of $206.98 million. During the same quarter last year, the business earned $0.21 earnings per share. Sell-side analysts expect that Calix, Inc will post -0.43 EPS for the current fiscal year.

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

Insiders Place Their Bets

In other Calix news, Director Carl Russo sold 25,000 shares of the business's stock in a transaction that occurred on Monday, April 28th. The stock was 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 $84,690,452.92. The trade was a 1.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 16.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Calix

A number of institutional investors and hedge funds have recently modified their holdings of CALX. Vanguard Group Inc. lifted its position in shares of Calix by 0.5% during the first quarter. Vanguard Group Inc. now owns 8,015,370 shares of the communications equipment provider's stock worth $284,065,000 after purchasing an additional 37,601 shares during the last quarter. Alliancebernstein L.P. boosted its position in Calix by 12.1% in the 1st quarter. Alliancebernstein L.P. now owns 2,509,223 shares of the communications equipment provider's stock valued at $88,927,000 after buying an additional 270,397 shares during the period. Millennium Management LLC boosted its position in Calix by 77.8% in the 4th quarter. Millennium Management LLC now owns 2,031,212 shares of the communications equipment provider's stock valued at $70,828,000 after buying an additional 889,102 shares during the period. Dimensional Fund Advisors LP grew its stake in Calix by 4.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,832,407 shares of the communications equipment provider's stock worth $63,897,000 after acquiring an additional 74,720 shares in the last quarter. Finally, Congress Asset Management Co. increased its position in shares of Calix by 8.1% during the first quarter. Congress Asset Management Co. now owns 1,378,497 shares of the communications equipment provider's stock worth $48,854,000 after acquiring an additional 103,175 shares during the period. 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.