Calix (NYSE:CALX) Shares Gap Up – Still a Buy?

Calix, Inc. (NYSE:CALX)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $36.87, but opened at $40.00. Calix shares last traded at $40.82, with a volume of 241,233 shares.

Wall Street Analysts Forecast Growth

CALX has been the topic of a number of research analyst reports. StockNews.com raised shares of Calix from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Needham & Company LLC restated a “buy” rating and issued a $45.00 price target on shares of Calix in a report on Thursday. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $45.00 price target on shares of Calix in a research report on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.50.

Calix Trading Up 12.9 %

The stock has a market cap of $2.76 billion, a P/E ratio of -173.56 and a beta of 1.68. The company’s 50 day moving average price is $35.48 and its two-hundred day moving average price is $36.24.

Calix (NYSE:CALX) last released its quarterly earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.31). Calix had a negative net margin of 1.79% and a positive return on equity of 1.33%. On average, sell-side analysts anticipate that Calix, Inc. will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On Calix

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. boosted its position in shares of Calix by 28.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 129,359 shares of the communications equipment provider’s stock valued at $4,583,000 after acquiring an additional 28,685 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Calix by 75.6% in the second quarter. Millennium Management LLC now owns 179,801 shares of the communications equipment provider’s stock valued at $6,370,000 after acquiring an additional 77,387 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Calix by 2.7% in the second quarter. The Manufacturers Life Insurance Company now owns 32,959 shares of the communications equipment provider’s stock valued at $1,168,000 after acquiring an additional 857 shares during the period. Mackenzie Financial Corp acquired a new stake in shares of Calix in the second quarter valued at approximately $248,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Calix in the second quarter valued at approximately $430,000. Hedge funds and other institutional investors own 98.14% of the company’s stock.

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.