Calix Inc (NYSE:CALX) has earned a consensus rating of “Buy” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $7.75.
Several research firms recently issued reports on CALX. ValuEngine upgraded Calix from a “hold” rating to a “buy” rating in a report on Tuesday, August 14th. Jefferies Financial Group reiterated a “hold” rating and issued a $6.50 price target on shares of Calix in a report on Wednesday, August 8th.
Calix stock traded up $0.07 during mid-day trading on Thursday, hitting $7.37. The stock had a trading volume of 1,727 shares, compared to its average volume of 164,623. The stock has a market cap of $389.60 million, a price-to-earnings ratio of -4.73 and a beta of 0.53. Calix has a 12 month low of $5.20 and a 12 month high of $9.05.
In related news, Director Donald J. Listwin bought 12,500 shares of Calix stock in a transaction on Friday, August 10th. The shares were purchased at an average price of $6.88 per share, for a total transaction of $86,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin A. Denuccio bought 38,500 shares of Calix stock in a transaction on Thursday, August 16th. The shares were bought at an average price of $6.98 per share, for a total transaction of $268,730.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 54,300 shares of company stock worth $377,380. Company insiders own 18.28% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Lapides Asset Management LLC raised its position in shares of Calix by 2.1% during the third quarter. Lapides Asset Management LLC now owns 2,924,200 shares of the communications equipment provider’s stock worth $23,686,000 after purchasing an additional 61,000 shares during the period. Northpointe Capital LLC raised its position in shares of Calix by 29.7% during the third quarter. Northpointe Capital LLC now owns 373,720 shares of the communications equipment provider’s stock worth $3,027,000 after purchasing an additional 85,671 shares during the period. Northern Trust Corp raised its position in shares of Calix by 6.1% during the second quarter. Northern Trust Corp now owns 516,664 shares of the communications equipment provider’s stock worth $4,030,000 after purchasing an additional 29,884 shares during the period. Global X Management Co LLC raised its position in shares of Calix by 18.9% during the second quarter. Global X Management Co LLC now owns 56,807 shares of the communications equipment provider’s stock worth $443,000 after purchasing an additional 9,049 shares during the period. Finally, Millennium Management LLC raised its position in shares of Calix by 54.3% during the second quarter. Millennium Management LLC now owns 203,658 shares of the communications equipment provider’s stock worth $1,589,000 after purchasing an additional 71,644 shares during the period. Hedge funds and other institutional investors own 62.67% of the company’s stock.
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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