Calix (NYSE:CALX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm presently has a $7.50 price objective on the communications equipment provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 10.29% from the stock’s previous close.
According to Zacks, “Calix is a global leader in access innovation. Its Unified Access portfolio of broadband communications access systems and software enables communications service providers worldwide to transform their networks and become the broadband provider of choice to their subscribers. “
Several other research analysts also recently commented on the stock. ValuEngine raised shares of Calix from a “sell” rating to a “hold” rating in a research note on Monday. Drexel Hamilton reissued a “buy” rating and set a $8.50 price target on shares of Calix in a research note on Wednesday, March 21st. Finally, Northland Securities raised shares of Calix from a “market perform” rating to an “outperform” rating in a research note on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Calix currently has an average rating of “Buy” and an average target price of $7.25.
Calix (NYSE:CALX) last posted its quarterly earnings results on Tuesday, February 13th. The communications equipment provider reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The business had revenue of $137.90 million for the quarter, compared to analysts’ expectations of $142.34 million. Calix had a negative return on equity of 48.53% and a negative net margin of 16.27%. sell-side analysts predict that Calix will post -0.2 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of CALX. Divisar Capital Management LLC increased its stake in shares of Calix by 29.1% in the fourth quarter. Divisar Capital Management LLC now owns 2,888,305 shares of the communications equipment provider’s stock worth $17,185,000 after buying an additional 650,947 shares during the period. Nokomis Capital L.L.C. increased its stake in shares of Calix by 8.9% in the fourth quarter. Nokomis Capital L.L.C. now owns 4,086,833 shares of the communications equipment provider’s stock worth $24,317,000 after buying an additional 335,674 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Calix in the fourth quarter worth $1,499,000. Millennium Management LLC increased its stake in shares of Calix by 841.6% in the fourth quarter. Millennium Management LLC now owns 188,987 shares of the communications equipment provider’s stock worth $1,124,000 after buying an additional 168,917 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Calix by 50.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 400,062 shares of the communications equipment provider’s stock worth $2,380,000 after buying an additional 133,528 shares during the period. 64.85% of the stock is currently owned by institutional investors.
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Calix, Inc, together with its subsidiaries, develops, markets, and sells software platforms, systems, and software for fiber- and copper-based network architectures that enable communications service providers (CSPs) to access networks. Its portfolio consists of E-Series access systems and nodes, B-Series access nodes, C-Series multiservice access system, and P-Series optical network terminals and residential gateways.
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