Needham & Company LLC Reaffirms Buy Rating for Calix (NYSE:CALX)

Calix (NYSE:CALX - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at Needham & Company LLC in a research report issued on Wednesday, Benzinga reports. They presently have a $50.00 price target on the communications equipment provider's stock. Needham & Company LLC's price target would indicate a potential upside of 71.35% from the stock's current price.

A number of other equities research analysts also recently issued reports on the stock. Rosenblatt Securities reduced their price target on shares of Calix from $57.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, January 30th. StockNews.com upgraded shares of Calix from a "sell" rating to a "hold" rating in a research note on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.60.

Calix Stock Down 0.6 %

Shares of NYSE:CALX traded down $0.19 during trading on Wednesday, hitting $29.18. 650,737 shares of the stock traded hands, compared to its average volume of 988,495. The company has a fifty day moving average price of $33.68 and a two-hundred day moving average price of $38.04. Calix has a 52-week low of $29.08 and a 52-week high of $53.90. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 65.56 and a beta of 1.65.

Calix (NYSE:CALX - Get Free Report) last issued its quarterly earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.07. The firm had revenue of $264.73 million for the quarter, compared to analyst estimates of $264.41 million. Calix had a net margin of 3.06% and a return on equity of 7.92%. Calix's quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the company posted $0.18 EPS. On average, equities research analysts predict that Calix will post 0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Calix

Several large investors have recently added to or reduced their stakes in CALX. Captrust Financial Advisors increased its stake in shares of Calix by 31.7% during the 2nd quarter. Captrust Financial Advisors now owns 847 shares of the communications equipment provider's stock valued at $29,000 after acquiring an additional 204 shares during the last quarter. Coppell Advisory Solutions Corp. purchased a new stake in Calix in the fourth quarter valued at approximately $45,000. Advisors Asset Management Inc. increased its position in Calix by 102.0% during the third quarter. Advisors Asset Management Inc. now owns 996 shares of the communications equipment provider's stock worth $46,000 after purchasing an additional 503 shares during the last quarter. TFO Wealth Partners LLC raised its stake in Calix by 13,787.5% during the fourth quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider's stock worth $49,000 after purchasing an additional 1,103 shares during the period. Finally, KBC Group NV acquired a new position in shares of Calix in the 4th quarter valued at $50,000. 98.14% of the stock is currently owned by hedge funds and other institutional investors.

About Calix

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.