Calix (NYSE:CALX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

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. “

A number of other analysts also recently issued reports on the stock. ValuEngine raised shares of Calix from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. BidaskClub raised shares of Calix from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $7.00 price target on shares of Calix in a report on Friday, October 6th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.50.

Shares of Calix (NYSE CALX) traded down $0.05 during mid-day trading on Tuesday, reaching $5.65. 92,873 shares of the company’s stock traded hands, compared to its average volume of 208,333. Calix has a 12-month low of $4.65 and a 12-month high of $7.75. The firm has a market cap of $287.25, a price-to-earnings ratio of -3.47 and a beta of 0.70.

Calix (NYSE:CALX) last announced its quarterly earnings results on Tuesday, November 7th. The communications equipment provider reported ($0.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.04). Calix had a negative net margin of 16.19% and a negative return on equity of 43.76%. The company had revenue of $128.80 million during the quarter, compared to analyst estimates of $127.92 million. During the same quarter last year, the company posted $0.12 EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. equities research analysts predict that Calix will post -1.53 earnings per share for the current year.

In related news, CFO Cory Sindelar acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was acquired at an average price of $6.70 per share, with a total value of $33,500.00. Following the purchase, the chief financial officer now directly owns 15,000 shares in the company, valued at $100,500. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.50% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers increased its position in Calix by 1.4% in the 2nd quarter. Rhumbline Advisers now owns 51,332 shares of the communications equipment provider’s stock valued at $352,000 after acquiring an additional 690 shares during the period. Wells Fargo & Company MN increased its position in shares of Calix by 2.7% during the second quarter. Wells Fargo & Company MN now owns 28,054 shares of the communications equipment provider’s stock worth $192,000 after buying an additional 729 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Calix by 0.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 160,938 shares of the communications equipment provider’s stock worth $1,103,000 after buying an additional 1,102 shares during the period. Voya Investment Management LLC increased its position in shares of Calix by 15.5% during the second quarter. Voya Investment Management LLC now owns 27,603 shares of the communications equipment provider’s stock worth $189,000 after buying an additional 3,696 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Calix by 11.8% during the second quarter. The Manufacturers Life Insurance Company now owns 37,558 shares of the communications equipment provider’s stock worth $257,000 after buying an additional 3,961 shares during the period. Hedge funds and other institutional investors own 67.13% of the company’s stock.

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Calix Company Profile

Calix, Inc provides 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 various services, from basic voice and data to advanced broadband services, over legacy and next-generation access networks.

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