Brokerages Set Calix, Inc. (NYSE:CALX) PT at $43.17

Calix, Inc. (NYSE:CALX) has been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $43.17.

CALX has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on Calix from $38.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Needham & Company LLC reissued a “buy” rating and set a $45.00 price target on shares of Calix in a research note on Thursday, January 30th.

Calix Stock Up 1.4 %

NYSE:CALX opened at $34.43 on Friday. The company has a market cap of $2.29 billion, a price-to-earnings ratio of -76.50 and a beta of 1.75. The company has a fifty day simple moving average of $35.71 and a two-hundred day simple moving average of $35.91. Calix has a 52 week low of $26.76 and a 52 week high of $42.50.

Calix (NYSE:CALX) last announced its quarterly earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.31). Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. On average, analysts expect that Calix will post -0.43 EPS for the current year.

Insiders Place Their Bets

In related news, Director Carl Russo sold 25,000 shares of Calix stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $38.15, for a total value of $953,750.00. Following the transaction, the director now owns 2,164,188 shares in the company, valued at approximately $82,563,772.20. This trade represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 16.69% of the company’s stock.

Hedge Funds Weigh In On Calix

A number of hedge funds have recently made changes to their positions in CALX. Millennium Management LLC grew its stake 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 buying an additional 889,102 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Calix by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 7,977,769 shares of the communications equipment provider’s stock worth $278,185,000 after buying an additional 412,982 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Calix by 711.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 436,036 shares of the communications equipment provider’s stock valued at $15,205,000 after acquiring an additional 382,301 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Calix by 105.7% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 708,723 shares of the communications equipment provider’s stock valued at $24,713,000 after acquiring an additional 364,209 shares in the last quarter. Finally, Norges Bank bought a new position in Calix during the fourth quarter worth $11,518,000. Hedge funds and other institutional investors own 98.14% of the company’s stock.

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.