Calix (NYSE:CALX) Price Target Cut to $35.00

Calix (NYSE:CALX) had its price target dropped by Rosenblatt Securities from $45.00 to $35.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the communications equipment provider’s stock. Rosenblatt Securities’ price objective indicates a potential upside of 18.48% from the company’s previous close.

Other equities analysts have also issued reports about the company. StockNews.com raised Calix from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. Roth Mkm restated a “buy” rating and set a $50.00 price objective on shares of Calix in a report on Monday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of Calix in a report on Wednesday, April 17th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Calix presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.25.

Calix Trading Up 0.9 %

CALX opened at $29.54 on Tuesday. The company has a fifty day moving average price of $33.27 and a two-hundred day moving average price of $37.62. Calix has a 1-year low of $28.95 and a 1-year high of $53.90. The company has a market cap of $1.93 billion, a P/E ratio of 65.65 and a beta of 1.65.

Calix (NYSE:CALX) last issued its earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.36 by $0.07. Calix had a return on equity of 7.92% and a net margin of 3.06%. The company had revenue of $264.73 million during the quarter, compared to the consensus estimate of $264.41 million. During the same period last year, the business posted $0.18 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, research analysts forecast that Calix will post 0.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Calix

A number of institutional investors and hedge funds have recently bought and sold shares of CALX. SG Americas Securities LLC raised its holdings in shares of Calix by 114.1% in the third quarter. SG Americas Securities LLC now owns 22,643 shares of the communications equipment provider’s stock valued at $1,038,000 after purchasing an additional 12,066 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in Calix by 3.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 11,529 shares of the communications equipment provider’s stock valued at $528,000 after buying an additional 394 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Calix by 12.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,663 shares of the communications equipment provider’s stock worth $535,000 after buying an additional 1,303 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Calix by 9.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 371,316 shares of the communications equipment provider’s stock worth $17,021,000 after buying an additional 31,912 shares during the last quarter. Finally, Inspire Investing LLC grew its holdings in shares of Calix by 5.5% in the third quarter. Inspire Investing LLC now owns 6,628 shares of the communications equipment provider’s stock valued at $304,000 after acquiring an additional 348 shares in the last quarter. 98.14% of the stock is owned by hedge funds and other institutional investors.

About Calix

Calix, Inc, together with its subsidiaries, engages in the provision of cloud and software platforms, and systems and services in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its cloud and software platforms, and systems and services enable broadband service providers (BSPs) to provide a range of services.