Needham & Company LLC Begins Coverage on Calix (NYSE:CALX)

Needham & Company LLC initiated coverage on shares of Calix (NYSE:CALX) in a research note released on Wednesday morning, Benzinga reports. The brokerage issued a buy rating and a $25.00 target price on the communications equipment provider’s stock.

A number of other analysts have also commented on the stock. Craig Hallum boosted their price objective on shares of Calix from $14.00 to $25.00 and gave the stock a buy rating in a research report on Thursday, July 23rd. Northland Securities reissued a buy rating and issued a $22.00 price objective (up previously from $16.00) on shares of Calix in a research report on Wednesday, July 22nd. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered shares of Calix from a buy rating to a hold rating in a research report on Tuesday, September 22nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Calix has a consensus rating of Buy and an average target price of $20.98.

Shares of CALX opened at $20.60 on Wednesday. Calix has a twelve month low of $5.61 and a twelve month high of $22.69. The firm’s 50 day moving average price is $19.28 and its two-hundred day moving average price is $15.16. The firm has a market cap of $1.20 billion, a P/E ratio of -85.83 and a beta of 1.55.

Calix (NYSE:CALX) last announced its quarterly earnings data on Tuesday, July 21st. The communications equipment provider reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.07. The business had revenue of $119.02 million for the quarter, compared to analyst estimates of $113.10 million. Calix had a negative net margin of 3.08% and a positive return on equity of 1.81%. As a group, research analysts forecast that Calix will post 0.3 EPS for the current year.

In other news, Director Donald J. Listwin purchased 22,955 shares of the company’s stock in a transaction on Monday, August 24th. The shares were purchased at an average cost of $19.98 per share, with a total value of $458,640.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 17.54% of the company’s stock.

Several large investors have recently added to or reduced their stakes in CALX. Gilder Gagnon Howe & Co. LLC increased its holdings in shares of Calix by 40.1% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 2,226,569 shares of the communications equipment provider’s stock valued at $33,176,000 after purchasing an additional 637,239 shares during the last quarter. Kornitzer Capital Management Inc. KS acquired a new position in shares of Calix in the second quarter valued at $7,756,000. Bank of New York Mellon Corp increased its holdings in shares of Calix by 226.4% in the second quarter. Bank of New York Mellon Corp now owns 579,328 shares of the communications equipment provider’s stock valued at $8,632,000 after purchasing an additional 401,834 shares during the last quarter. Prudential Financial Inc. acquired a new position in shares of Calix in the second quarter valued at $5,668,000. Finally, Vanguard Group Inc. increased its holdings in shares of Calix by 13.5% in the second quarter. Vanguard Group Inc. now owns 2,921,799 shares of the communications equipment provider’s stock valued at $43,535,000 after purchasing an additional 347,769 shares during the last quarter. Hedge funds and other institutional investors own 72.65% of the company’s stock.

Calix Company Profile

Calix, Inc, together with its subsidiaries, provides cloud and software platforms, systems and services required to deliver the unified access network. The company's cloud and software platforms, systems, and services enable communication service providers (CSP) to provide a range of services, from basic voice and data to advanced broadband services, over legacy and next-generation access networks.

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