Wall Street Zen Upgrades Calix (NYSE:CALX) to Strong-Buy

Calix (NYSE:CALX) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday, Wall Street Zen reports.

Other analysts have also issued research reports about the company. Rosenblatt Securities cut their target price on Calix from $70.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. JPMorgan Chase & Co. decreased their target price on Calix from $65.00 to $58.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Weiss Ratings cut shares of Calix from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, October 26th. Roth Capital reaffirmed a “buy” rating on shares of Calix in a report on Tuesday, July 21st. Finally, Zacks Research raised Calix from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Calix has a consensus rating of “Moderate Buy” and an average target price of $57.40.

Calix Price Performance

CALX opened at $36.75 on Friday. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 49.66 and a beta of 1.21. The firm has a 50 day simple moving average of $36.20 and a 200 day simple moving average of $42.66. Calix has a fifty-two week low of $32.35 and a fifty-two week high of $71.22.

Institutional Trading of Calix

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Calix during the 2nd quarter worth approximately $439,461,000. Dimensional Fund Advisors LP lifted its position in Calix by 28.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,218,495 shares of the communications equipment provider’s stock worth $59,699,000 after acquiring an additional 269,876 shares during the last quarter. Paradigm Capital Management Inc. NY raised its stake in shares of Calix by 14.2% during the first quarter. Paradigm Capital Management Inc. NY now owns 768,200 shares of the communications equipment provider’s stock valued at $37,634,000 after acquiring an additional 95,800 shares during the last quarter. Bank of America Corp DE lifted its stake in Calix by 63.3% during the 1st quarter. Bank of America Corp DE now owns 750,117 shares of the communications equipment provider’s stock valued at $36,748,000 after acquiring an additional 290,661 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Calix during the third quarter worth about $32,090,000. Hedge funds and other institutional investors own 98.14% of the company’s stock.

About Calix

Calix, Inc provides cloud, software and broadband access solutions to communications service providers. Its technology helps broadband operators deploy, manage and monetize high-speed internet and related services for residential and business customers.

The company’s offerings include broadband access systems, subscriber premise equipment, cloud-based software and analytics, and managed services. Its portfolio supports fiber, fixed wireless and other broadband networks, while enabling providers to deliver services such as Wi-Fi management, network security, connected home applications and business connectivity.

Founded in 1999 and headquartered in San Jose, California, Calix serves broadband service providers primarily in North America, with customers and operations in other international markets.