Calix (NYSE:CALX) Stock Price Up 3.8% – What’s Next?

Calix, Inc. (NYSE:CALX) was up 3.8% during mid-day trading on Tuesday . The stock traded as high as $34.57 and last traded at $34.67. Approximately 289,233 shares traded hands during trading, a decline of 54% from the average daily volume of 633,470 shares. The stock had previously closed at $33.39.

Analysts Set New Price Targets

A number of research analysts recently commented on CALX shares. JPMorgan Chase & Co. raised their price objective on shares of 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 reaffirmed a “buy” rating and set a $45.00 price objective on shares of Calix in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.17.

Calix Price Performance

The firm has a market capitalization of $2.30 billion, a PE ratio of -76.59 and a beta of 1.78. The company has a fifty day moving average of $37.58 and a 200-day moving average of $36.31.

Calix (NYSE:CALX) last announced 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 3.58% and a negative return on equity of 3.43%. Equities analysts anticipate that Calix, Inc. will post -0.43 EPS for the current year.

Insider Activity

In related news, Director Carl Russo sold 25,000 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 2,164,188 shares of the company’s stock, valued at approximately $82,563,772.20. This represents a 1.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.69% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CALX. Smartleaf Asset Management LLC increased its stake in shares of Calix by 367.8% in the fourth 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 during the period. Avior Wealth Management LLC increased its position in Calix by 998.1% in the 3rd quarter. Avior Wealth Management LLC now owns 1,186 shares of the communications equipment provider’s stock worth $46,000 after buying an additional 1,078 shares during the period. Pacer Advisors Inc. increased its position in Calix by 29.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider’s stock worth $54,000 after buying an additional 358 shares during the period. Truvestments Capital LLC acquired a new position in shares of Calix during the third quarter worth approximately $76,000. Finally, Quantbot Technologies LP bought a new stake in shares of Calix in the fourth quarter valued at approximately $84,000. Institutional investors and hedge funds 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.