StockNews.com Begins Coverage on Calix (NYSE:CALX)

StockNews.com began coverage on shares of Calix (NYSE:CALX – Get Rating) in a research note issued to investors on Thursday. The brokerage issued a hold rating on the communications equipment provider’s stock.

CALX has been the topic of several other reports. Needham & Company LLC raised their price objective on Calix from $82.00 to $88.00 and gave the company a buy rating in a report on Thursday, December 22nd. TheStreet lowered Calix from a b- rating to a c+ rating in a report on Monday, January 30th. Loop Capital raised their price objective on Calix from $83.00 to $88.00 and gave the company a buy rating in a report on Friday, January 27th. Northland Securities dropped their price objective on Calix from $85.00 to $80.00 and set an outperform rating on the stock in a report on Friday, January 27th. Finally, Rosenblatt Securities dropped their price objective on Calix from $85.00 to $75.00 and set a buy rating on the stock in a report on Monday, February 6th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $80.22.

Calix Stock Down 1.8 %

Calix stock opened at $51.33 on Thursday. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 87.00 and a beta of 1.55. Calix has a 52 week low of $31.59 and a 52 week high of $77.44. The business’s 50-day moving average price is $54.13 and its 200 day moving average price is $61.20.

Insider Activity

In other news, insider John Matthew Collins sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $54.48, for a total value of $272,400.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 16.64% of the company’s stock.

Hedge Funds Weigh In On Calix

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Calix by 1.6% during the third quarter. BlackRock Inc. now owns 7,585,133 shares of the communications equipment provider’s stock worth $463,756,000 after buying an additional 118,530 shares in the last quarter. Vanguard Group Inc. lifted its position in Calix by 6.9% during the third quarter. Vanguard Group Inc. now owns 5,769,235 shares of the communications equipment provider’s stock worth $352,731,000 after buying an additional 373,464 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in Calix by 32.7% during the fourth quarter. Lord Abbett & CO. LLC now owns 2,276,727 shares of the communications equipment provider’s stock worth $155,796,000 after buying an additional 561,336 shares in the last quarter. State Street Corp lifted its position in Calix by 3.5% during the third quarter. State Street Corp now owns 1,801,280 shares of the communications equipment provider’s stock worth $110,130,000 after buying an additional 61,237 shares in the last quarter. Finally, Driehaus Capital Management LLC lifted its position in Calix by 4.8% during the fourth quarter. Driehaus Capital Management LLC now owns 1,782,875 shares of the communications equipment provider’s stock worth $122,002,000 after buying an additional 81,948 shares in the last quarter. Hedge funds and other institutional investors own 81.90% of the company’s stock.

About Calix

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Calix, Inc provides cloud and software platforms, systems and services required to realize the unified access network. The firm offers broadband communications access systems and software for fiber and copper-based network architectures that enable communications service providers to transform their networks and connect to their residential and business subscribers.