Calix, Inc (NYSE:CALX) Given Average Recommendation of “Moderate Buy” by Analysts

Calix, Inc (NYSE:CALX) has received an average recommendation of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $48.50.

CALX has been the subject of several recent analyst reports. Rosenblatt Securities raised their price objective on shares of Calix from $52.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, June 12th. UBS Group reissued a “buy” rating on shares of Calix in a report on Tuesday, April 22nd. Needham & Company LLC reissued a “buy” rating and set a $53.00 price objective on shares of Calix in a report on Tuesday, April 22nd. Roth Capital set a $50.00 price objective on shares of Calix and gave the stock a “buy” rating in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Calix from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, April 23rd.

Insider Activity

In other news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $39.59, for a total value of $989,750.00. Following the completion of the transaction, the director directly owned 2,139,188 shares of the company’s stock, valued at approximately $84,690,452.92. The trade was a 1.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Cory Sindelar sold 10,000 shares of Calix stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $52.00, for a total transaction of $520,000.00. Following the completion of the transaction, the chief financial officer directly owned 76,285 shares of the company’s stock, valued at $3,966,820. This trade represents a 11.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 16.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new position in Calix during the 1st quarter valued at about $28,000. Smartleaf Asset Management LLC raised its holdings in shares of Calix by 367.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider’s stock worth $28,000 after purchasing an additional 640 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Calix by 91.1% in the 1st quarter. Signaturefd LLC now owns 1,007 shares of the communications equipment provider’s stock worth $36,000 after purchasing an additional 480 shares in the last quarter. Quarry LP raised its holdings in shares of Calix by 1,704.0% in the 1st quarter. Quarry LP now owns 1,353 shares of the communications equipment provider’s stock worth $48,000 after purchasing an additional 1,278 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Calix in the 4th quarter worth approximately $84,000. 98.14% of the stock is owned by institutional investors and hedge funds.

Calix Stock Performance

CALX stock opened at $53.89 on Friday. Calix has a 1 year low of $28.61 and a 1 year high of $54.07. The firm has a market cap of $3.49 billion, a P/E ratio of -103.63 and a beta of 1.37. The stock has a 50-day simple moving average of $46.45 and a 200-day simple moving average of $39.78.

Calix (NYSE:CALX) last posted its earnings results on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. Calix had a negative return on equity of 4.14% and a negative net margin of 4.20%. The business had revenue of $220.20 million during the quarter, compared to analyst estimates of $206.98 million. During the same quarter last year, the firm earned $0.21 earnings per share. On average, equities research analysts predict that Calix will post -0.43 EPS for the current year.

Calix declared that its board has approved a stock buyback plan on Monday, April 21st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the communications equipment provider to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

About Calix

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.