Calix, Inc. (NYSE:CALX) Given Average Rating of “Moderate Buy” by Brokerages

Posted by on Jun 8th, 2023

Calix, Inc. (NYSE:CALX – Get Rating) has been assigned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $76.50.

Several equities analysts have commented on CALX shares. Roth Mkm lowered their target price on shares of Calix from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, April 21st. StockNews.com began coverage on shares of Calix in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $88.00 target price on shares of Calix in a report on Thursday, April 20th. JPMorgan Chase & Co. started coverage on shares of Calix in a report on Friday, May 19th. They set a “neutral” rating and a $49.00 price target for the company. Finally, Rosenblatt Securities decreased their price target on shares of Calix from $75.00 to $70.00 in a report on Friday, April 21st.

Calix Trading Up 1.2 %

Calix stock opened at $50.77 on Thursday. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 83.23 and a beta of 1.55. The company’s 50-day moving average price is $47.78 and its two-hundred day moving average price is $55.49. Calix has a 52 week low of $31.59 and a 52 week high of $77.44.

Insider Activity at Calix

In related news, insider John Matthew Collins sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $44.10, for a total transaction of $220,500.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 16.69% of the company’s stock.

Institutional Investors Weigh In On Calix

Several institutional investors and hedge funds have recently made changes to their positions in CALX. Ronald Blue Trust Inc. lifted its position in Calix by 100.0% during the 4th quarter. Ronald Blue Trust Inc. now owns 460 shares of the communications equipment provider’s stock worth $28,000 after buying an additional 230 shares in the last quarter. Captrust Financial Advisors lifted its position in Calix by 31.7% during the 2nd quarter. Captrust Financial Advisors now owns 847 shares of the communications equipment provider’s stock worth $29,000 after buying an additional 204 shares in the last quarter. Assetmark Inc. lifted its position in Calix by 45.4% during the 1st quarter. Assetmark Inc. now owns 823 shares of the communications equipment provider’s stock worth $44,000 after buying an additional 257 shares in the last quarter. Coppell Advisory Solutions Corp. acquired a new position in Calix during the 4th quarter worth about $45,000. Finally, Quarry LP lifted its position in Calix by 483.2% during the 1st quarter. Quarry LP now owns 974 shares of the communications equipment provider’s stock worth $52,000 after buying an additional 807 shares in the last quarter. Institutional investors and hedge funds 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.

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