Calix (NYSE:CALX) Given Buy Rating at Needham & Company LLC

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

CALX has been the topic of a number of other research reports. StockNews.com upgraded shares of Calix from a sell rating to a hold rating in a research note on Wednesday, February 28th. Rosenblatt Securities decreased their price objective on shares of Calix from $57.00 to $45.00 and set a buy rating on the stock in a research report on Tuesday, January 30th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $54.60.

Calix Price Performance

NYSE:CALX opened at $29.18 on Wednesday. Calix has a one year low of $29.08 and a one year high of $53.90. The business has a fifty day moving average price of $33.58 and a 200-day moving average price of $37.98. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 64.84 and a beta of 1.65.

Calix (NYSE:CALX) last issued its quarterly earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. Calix had a return on equity of 7.92% and a net margin of 3.06%. The business had revenue of $264.73 million during the quarter, compared to analysts’ expectations of $264.41 million. During the same quarter in the prior year, the business posted $0.18 earnings per share. The business’s quarterly revenue was up 8.3% on a year-over-year basis. On average, equities research analysts expect that Calix will post 0.45 earnings per share for the current fiscal year.

Institutional Trading of Calix

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Harbour Capital Advisors LLC grew its position in shares of Calix by 52.0% during the first quarter. Harbour Capital Advisors LLC now owns 10,450 shares of the communications equipment provider’s stock valued at $335,000 after purchasing an additional 3,575 shares in the last quarter. Thompson Investment Management Inc. boosted its stake in Calix by 42.6% during the first quarter. Thompson Investment Management Inc. now owns 55,950 shares of the communications equipment provider’s stock valued at $1,855,000 after buying an additional 16,725 shares during the last quarter. Congress Asset Management Co. MA grew its holdings in Calix by 19.4% during the 1st quarter. Congress Asset Management Co. MA now owns 1,045,867 shares of the communications equipment provider’s stock valued at $34,681,000 after buying an additional 170,180 shares in the last quarter. Vanguard Group Inc. increased its stake in Calix by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 6,422,915 shares of the communications equipment provider’s stock worth $280,617,000 after acquiring an additional 58,069 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Calix by 10.5% during the 4th quarter. Wellington Management Group LLP now owns 1,755,497 shares of the communications equipment provider’s stock worth $76,698,000 after acquiring an additional 166,695 shares in the last quarter. 98.14% of the stock is currently 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.