Calix (NYSE:CALX) Earns "Buy" Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Calix (NYSE:CALX - Free Report) in a research note released on Tuesday morning, Benzinga reports. Needham & Company LLC currently has a $50.00 price target on the communications equipment provider's stock.

A number of other research analysts have also recently issued reports on the stock. StockNews.com upgraded shares of Calix from a sell rating to a hold rating in a report on Wednesday, February 28th. Rosenblatt Securities decreased their price objective on shares of Calix from $45.00 to $35.00 and set a buy rating for the company in a report on Tuesday. Finally, Roth Mkm reiterated a buy rating and issued a $50.00 price target on shares of Calix in a report on Monday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Calix presently has an average rating of Moderate Buy and a consensus price target of $44.25.

Calix Stock Down 5.3 %

NYSE CALX traded down $1.56 during midday trading on Tuesday, hitting $28.00. The company had a trading volume of 2,466,005 shares, compared to its average volume of 1,007,965. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 65.65 and a beta of 1.65. The firm has a fifty day simple moving average of $33.27 and a two-hundred day simple moving average of $37.62. Calix has a fifty-two week low of $26.76 and a fifty-two week high of $53.90.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CALX. TD Asset Management Inc boosted its holdings in Calix by 516.6% during the fourth quarter. TD Asset Management Inc now owns 1,610,885 shares of the communications equipment provider's stock worth $70,380,000 after purchasing an additional 1,349,625 shares during the last quarter. Epoch Investment Partners Inc. raised its position in Calix by 213.8% during the fourth quarter. Epoch Investment Partners Inc. now owns 944,350 shares of the communications equipment provider's stock worth $41,259,000 after acquiring an additional 643,392 shares in the last quarter. Norges Bank bought a new stake in Calix during the fourth quarter worth $26,483,000. Artisan Partners Limited Partnership raised its position in Calix by 106.5% during the third quarter. Artisan Partners Limited Partnership now owns 1,074,175 shares of the communications equipment provider's stock worth $49,240,000 after acquiring an additional 554,003 shares in the last quarter. Finally, Artemis Investment Management LLP bought a new stake in Calix during the fourth quarter worth $18,165,000. Institutional investors and hedge funds own 98.14% of the company's stock.

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.