Calix, Inc. (NYSE:CALX) Receives $47.83 Consensus Target Price from Analysts

Calix, Inc. (NYSE:CALX) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $47.83.

Several research firms have weighed in on CALX. Roth Capital set a $50.00 price objective on Calix and gave the stock a “buy” rating in a research report on Tuesday, April 22nd. Needham & Company LLC reissued a “buy” rating and issued a $53.00 price objective on shares of Calix in a research report on Tuesday, April 22nd. Rosenblatt Securities increased their price target on shares of Calix from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. increased their price target on shares of Calix from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, April 23rd. Finally, UBS Group restated a “buy” rating on shares of Calix in a research note on Tuesday, April 22nd.

Insiders Place Their Bets

In other Calix news, Director Carl Russo sold 25,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $38.15, for a total transaction of $953,750.00. Following the completion of the transaction, the director now owns 2,164,188 shares in the company, valued at $82,563,772.20. This trade represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 16.90% of the company’s stock.

Hedge Funds Weigh In On Calix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Calix by 0.5% during the first quarter. Vanguard Group Inc. now owns 8,015,370 shares of the communications equipment provider’s stock worth $284,065,000 after purchasing an additional 37,601 shares during the period. Millennium Management LLC boosted its position in shares of Calix by 77.8% in the fourth quarter. Millennium Management LLC now owns 2,031,212 shares of the communications equipment provider’s stock valued at $70,828,000 after acquiring an additional 889,102 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Calix by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,832,407 shares of the communications equipment provider’s stock valued at $63,897,000 after acquiring an additional 74,720 shares during the period. Congress Asset Management Co. boosted its position in shares of Calix by 8.1% in the first quarter. Congress Asset Management Co. now owns 1,378,497 shares of the communications equipment provider’s stock valued at $48,854,000 after acquiring an additional 103,175 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Calix by 3.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,373,246 shares of the communications equipment provider’s stock valued at $47,885,000 after acquiring an additional 45,195 shares during the period. Institutional investors own 98.14% of the company’s stock.

Calix Price Performance

Shares of CALX stock opened at $44.76 on Thursday. The firm has a 50-day moving average of $36.44 and a 200-day moving average of $36.19. The company has a market cap of $2.90 billion, a P/E ratio of -99.46 and a beta of 1.38. Calix has a one year low of $28.61 and a one year high of $45.38.

Calix (NYSE:CALX) last announced its earnings results on Monday, April 21st. The communications equipment provider reported $0.19 EPS for the quarter, beating the consensus estimate of $0.13 by $0.06. The company had revenue of $220.20 million during the quarter, compared to the consensus estimate of $206.98 million. Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. During the same quarter in the prior year, the company posted $0.21 earnings per share. As a group, research analysts expect that Calix will post -0.43 earnings per share for the current fiscal year.

Calix declared that its Board of Directors has authorized a share repurchase program on Monday, April 21st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the communications equipment provider to buy up to 4.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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.