Calix (NYSE:CALX) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Calix (NYSE:CALX – Get Rating) in a research report report published on Thursday morning. The brokerage issued a hold rating on the communications equipment provider’s stock.

CALX has been the topic of several other research reports. Needham & Company LLC lifted their price target on shares of Calix from $82.00 to $88.00 and gave the company a buy rating in a report on Thursday, December 22nd. TheStreet cut shares of Calix from a b- rating to a c+ rating in a report on Monday, January 30th. Loop Capital lifted their price target on shares of Calix from $83.00 to $88.00 and gave the company a buy rating in a report on Friday, January 27th. Northland Securities cut their price target on shares of Calix from $85.00 to $80.00 and set an outperform rating on the stock in a report on Friday, January 27th. Finally, Rosenblatt Securities cut their price target on shares of Calix from $85.00 to $75.00 and set a buy rating on the stock in a report on Monday, February 6th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $80.22.

Calix Stock Up 1.1 %

NYSE:CALX opened at $50.28 on Thursday. The stock has a market cap of $3.33 billion, a P/E ratio of 85.22 and a beta of 1.55. The firm’s fifty day simple moving average is $55.07 and its 200 day simple moving average is $61.40. Calix has a twelve month low of $31.59 and a twelve month high of $77.44.

Insider Activity

In other news, insider John Matthew Collins sold 5,000 shares of the business’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $54.48, for a total transaction of $272,400.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 16.56% of the company’s stock.

Hedge Funds Weigh In On Calix

Several large investors have recently modified their holdings of the stock. Voya Investment Management LLC raised its position in shares of Calix by 8.1% in the 4th quarter. Voya Investment Management LLC now owns 66,900 shares of the communications equipment provider’s stock worth $4,578,000 after purchasing an additional 5,005 shares during the last quarter. Natixis purchased a new position in Calix in the 4th quarter worth about $60,000. Teachers Retirement System of The State of Kentucky raised its position in Calix by 12.4% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 9,073 shares of the communications equipment provider’s stock worth $620,000 after buying an additional 1,000 shares during the last quarter. Macquarie Group Ltd. raised its position in Calix by 227.6% in the 4th quarter. Macquarie Group Ltd. now owns 346,555 shares of the communications equipment provider’s stock worth $23,715,000 after buying an additional 240,762 shares during the last quarter. Finally, Truist Financial Corp raised its position in Calix by 22.8% in the 4th quarter. Truist Financial Corp now owns 13,073 shares of the communications equipment provider’s stock worth $895,000 after buying an additional 2,425 shares during the last quarter. Hedge funds and other institutional investors own 81.90% of the company’s stock.

About Calix

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Calix, Inc provides cloud and software platforms, systems and services required to realize the unified access network. The firm offers broadband communications access systems and software for fiber and copper-based network architectures that enable communications service providers to transform their networks and connect to their residential and business subscribers.