The Calix Inc. (CALX) Upgraded to “Hold” at The Zacks Investment Research

The Calix Inc. (CALX) Upgraded to “Hold” at The Zacks Investment Research

Zacks Investment Research upgraded shares of Calix Inc. (NYSE:CALX) from a sell rating to a hold rating in a research report released on Wednesday morning.

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 analysts also recently weighed in on CALX. Morgan Stanley set a $9.00 target price on Calix and gave the company a hold rating in a report on Wednesday, August 3rd. TheStreet raised Calix from a sell rating to a hold rating in a report on Friday, August 5th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Calix currently has an average rating of Hold and a consensus target price of $8.79.

Calix (NYSE:CALX) opened at 6.40 on Wednesday. The firm’s market capitalization is $312.20 million. The stock has a 50 day moving average price of $6.96 and a 200-day moving average price of $7.13. Calix has a one year low of $5.64 and a one year high of $8.20.

Calix (NYSE:CALX) last posted its earnings results on Tuesday, August 2nd. The company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.02. Calix had a negative return on equity of 4.88% and a negative net margin of 5.95%. The business earned $107.40 million during the quarter, compared to the consensus estimate of $106.20 million. During the same period in the previous year, the business earned $0.06 EPS. The business’s quarterly revenue was up 8.4% on a year-over-year basis. On average, analysts predict that Calix will post ($0.07) earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the stock. Ameriprise Financial Inc. boosted its position in shares of Calix by 25.7% in the second quarter. Ameriprise Financial Inc. now owns 3,325,466 shares of the company’s stock valued at $22,979,000 after buying an additional 679,219 shares during the period. Vanguard Group Inc. boosted its position in shares of Calix by 0.3% in the second quarter. Vanguard Group Inc. now owns 3,051,748 shares of the company’s stock valued at $21,087,000 after buying an additional 10,176 shares during the period. Lapides Asset Management LLC boosted its position in shares of Calix by 5.5% in the second quarter. Lapides Asset Management LLC now owns 2,798,000 shares of the company’s stock valued at $19,334,000 after buying an additional 146,800 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Calix by 8.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,790,251 shares of the company’s stock valued at $19,280,000 after buying an additional 228,161 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Calix by 11.5% in the first quarter. Renaissance Technologies LLC now owns 1,994,300 shares of the company’s stock valued at $14,140,000 after buying an additional 205,400 shares during the period. Hedge funds and other institutional investors own 65.91% of the company’s stock.

About Calix

Calix, Inc is a provider of 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 a range of revenue-generating services, from basic voice and data to advanced broadband services, over legacy and next-generation access networks.

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