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

Needham & Company LLC reaffirmed their buy rating on shares of Calix (NYSE:CALX) in a report released on Tuesday morning, Benzinga reports. The brokerage currently has a $50.00 price target on the communications equipment provider’s stock.

Several other brokerages have also recently weighed in on CALX. Roth Mkm reaffirmed a buy rating and issued a $50.00 price target on shares of Calix in a research report on Monday. StockNews.com raised shares of Calix from a sell rating to a hold rating in a research report on Wednesday, February 28th. Finally, Rosenblatt Securities dropped their price target on shares of Calix from $45.00 to $35.00 and set a buy rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $41.33.

Calix Price Performance

CALX stock opened at $28.25 on Tuesday. The stock has a market capitalization of $1.85 billion, a PE ratio of 91.13 and a beta of 1.65. The company’s 50-day moving average is $32.90 and its 200-day moving average is $37.38. Calix has a 1 year low of $26.76 and a 1 year high of $53.90.

Calix (NYSE:CALX) last released its quarterly earnings data on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. The company had revenue of $264.73 million for the quarter, compared to analysts’ expectations of $264.41 million. Calix had a net margin of 2.19% and a return on equity of 6.64%. The business’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 EPS. On average, analysts anticipate that Calix will post 0.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Calix

Several institutional investors and hedge funds have recently added to or reduced their stakes in CALX. TFO Wealth Partners LLC increased its stake in Calix by 13,787.5% in the 4th quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock valued at $49,000 after buying an additional 1,103 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in Calix by 194.4% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,531 shares of the communications equipment provider’s stock valued at $70,000 after buying an additional 1,011 shares during the last quarter. Assetmark Inc. increased its stake in Calix by 31.9% in the 3rd quarter. Assetmark Inc. now owns 1,578 shares of the communications equipment provider’s stock valued at $72,000 after buying an additional 382 shares during the last quarter. Quadrant Capital Group LLC increased its stake in Calix by 18.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,232 shares of the communications equipment provider’s stock valued at $98,000 after buying an additional 348 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Calix in the 3rd quarter valued at about $111,000. Hedge funds and other institutional investors 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.