ValuEngine Upgrades Calix (CALX) to Hold

ValuEngine upgraded shares of Calix (NYSE:CALX) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

A number of other equities research analysts have also recently commented on the stock. BidaskClub raised shares of Calix from a hold rating to a buy rating in a report on Tuesday, November 14th. Zacks Investment Research cut shares of Calix from a hold rating to a sell rating in a report on Monday, November 13th. Northland Securities set a $7.00 target price on shares of Calix and gave the company a hold rating in a report on Monday, August 7th. Finally, Jefferies Group reiterated a hold rating and set a $7.00 price target on shares of Calix in a research note on Friday, October 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Calix currently has a consensus rating of Hold and a consensus price target of $6.50.

Shares of Calix (NYSE CALX) opened at $6.70 on Friday. Calix has a 1-year low of $4.65 and a 1-year high of $8.10.

Calix (NYSE:CALX) last announced its earnings results on Tuesday, November 7th. The communications equipment provider reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). Calix had a negative net margin of 16.19% and a negative return on equity of 43.76%. The business had revenue of $128.80 million during the quarter, compared to analysts’ expectations of $127.92 million. During the same period in the previous year, the company posted $0.12 earnings per share. Calix’s quarterly revenue was up 6.3% on a year-over-year basis. research analysts expect that Calix will post -1.52 earnings per share for the current fiscal year.

In other news, CFO Cory Sindelar purchased 5,974 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were acquired at an average cost of $6.95 per share, for a total transaction of $41,519.30. Following the completion of the purchase, the chief financial officer now directly owns 15,000 shares in the company, valued at approximately $104,250. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 16.50% of the company’s stock.

Several institutional investors have recently modified their holdings of CALX. FMR LLC increased its stake in shares of Calix by 120.3% during the first quarter. FMR LLC now owns 220,731 shares of the communications equipment provider’s stock worth $1,600,000 after acquiring an additional 120,531 shares during the period. California Public Employees Retirement System increased its stake in shares of Calix by 9.4% during the first quarter. California Public Employees Retirement System now owns 134,500 shares of the communications equipment provider’s stock worth $975,000 after acquiring an additional 11,600 shares during the period. Vanguard Group Inc. grew its position in Calix by 3.2% during the first quarter. Vanguard Group Inc. now owns 3,343,182 shares of the communications equipment provider’s stock worth $24,238,000 after buying an additional 103,026 shares during the period. Geode Capital Management LLC grew its position in Calix by 2.3% during the first quarter. Geode Capital Management LLC now owns 309,607 shares of the communications equipment provider’s stock worth $2,244,000 after buying an additional 7,015 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Calix by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 3,126,799 shares of the communications equipment provider’s stock worth $22,669,000 after buying an additional 88,273 shares during the period. Institutional investors and hedge funds own 67.13% of the company’s stock.

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About Calix

Calix, Inc provides broadband communications access systems and software for fiber- and copper-based network architectures that enable communications service providers (CSPs), to transform their networks and connect to their residential and business subscribers. The Company enables CSPs to provide various services, from basic voice and data to advanced broadband services, over legacy and next-generation access networks.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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