Roth Capital started coverage on shares of Calix (NYSE:CALX – Get Rating) in a report released on Monday, The Fly reports. The brokerage issued a buy rating on the communications equipment provider's stock.
Other equities analysts have also recently issued research reports about the stock. Jefferies Financial Group reissued a buy rating and issued a $61.00 price target (down previously from $69.00) on shares of Calix in a research note on Wednesday, June 22nd. TheStreet upgraded shares of Calix from a c+ rating to a b rating in a report on Wednesday, August 3rd. Barrington Research boosted their price objective on shares of Calix from $63.00 to $67.00 and gave the stock an outperform rating in a report on Tuesday, July 26th. Craig Hallum boosted their price objective on shares of Calix from $62.00 to $69.00 and gave the stock an outperform rating in a report on Wednesday, July 27th. Finally, Westpark Capital started coverage on shares of Calix in a report on Tuesday, September 13th. They issued a buy rating for the company. One research 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.com, Calix presently has an average rating of Moderate Buy and an average price target of $66.90.
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Calix Trading Up 0.6 %
Shares of NYSE:CALX opened at $61.52 on Monday. The company has a 50 day moving average of $57.90 and a 200 day moving average of $45.24. The stock has a market cap of $4.01 billion, a P/E ratio of 19.66, a P/E/G ratio of 10.54 and a beta of 1.69. Calix has a 12 month low of $31.59 and a 12 month high of $80.95.
Calix (NYSE:CALX – Get Rating) last released its quarterly earnings results on Monday, July 25th. The communications equipment provider reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.06. Calix had a net
margin of 28.95% and a return on equity of 8.02%. The business had revenue of $202.04 million during the quarter, compared to analysts' expectations of $196.02 million. During the same quarter in the previous year, the company earned $0.31 EPS. The business's quarterly revenue was up 19.8% compared to the same quarter last year. On average, equities analysts forecast that Calix will post 0.29 earnings per share for the current fiscal year.
Insider Activity at Calix
In related news, Director Michael Matthews sold 6,000 shares of the company's stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $55.70, for a total transaction of $334,200.00. Following the completion of the sale, the director now directly owns 66,000 shares in the company, valued at approximately $3,676,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Calix news, EVP John Matthew Collins sold 5,000 shares of the company's stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $58.31, for a total value of $291,550.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Matthews sold 6,000 shares of the company's stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $55.70, for a total transaction of $334,200.00. Following the completion of the transaction, the director now owns 66,000 shares of the company's stock, valued at $3,676,200. The disclosure for this sale can be found here. Insiders sold 76,000 shares of company stock worth $4,394,050 in the last three months. 16.56% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in CALX. BlackRock Inc. raised its holdings in Calix by 45.9% in the 1st quarter. BlackRock Inc. now owns 7,446,078 shares of the communications equipment provider's stock worth $319,511,000 after purchasing an additional 2,340,968 shares in the last quarter. Millennium Management LLC grew its position in shares of Calix by 3,742.9% in the 4th quarter. Millennium Management LLC now owns 1,502,834 shares of the communications equipment provider's stock worth $120,182,000 after buying an additional 1,463,727 shares during the period. Vanguard Group Inc. grew its position in shares of Calix by 35.2% in the 1st quarter. Vanguard Group Inc. now owns 5,586,440 shares of the communications equipment provider's stock worth $239,713,000 after buying an additional 1,453,368 shares during the period. State Street Corp grew its position in shares of Calix by 58.5% in the 1st quarter. State Street Corp now owns 1,732,618 shares of the communications equipment provider's stock worth $74,347,000 after buying an additional 639,780 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of Calix by 414.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 631,269 shares of the communications equipment provider's stock worth $21,552,000 after buying an additional 508,644 shares during the period. 81.28% of the stock is currently owned by institutional investors.
About Calix
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Calix, Inc, together with its subsidiaries, provides cloud and software platforms, and systems and services in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company's cloud and software platforms, and systems and services enable broadband service providers (BSPs) to provide a range of services.
Further Reading
- Get a free copy of the StockNews.com research report on Calix (CALX)
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