Calix (NYSE:CALX) PT Raised to $50.00

Calix (NYSE:CALX) had its target price raised by Craig Hallum from $41.00 to $50.00 in a report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the communications equipment provider’s stock.

A number of other brokerages have also recently issued reports on CALX. Rosenblatt Securities boosted their price objective on shares of Calix from $35.00 to $45.00 and gave the company a buy rating in a report on Wednesday. Roth Mkm upped their price target on shares of Calix from $43.00 to $44.00 and gave the company a buy rating in a report on Tuesday, July 23rd. Needham & Company LLC restated a buy rating and set a $45.00 target price on shares of Calix in a report on Tuesday, July 23rd. JPMorgan Chase & Co. increased their target price on shares of Calix from $28.00 to $41.00 and gave the stock a neutral rating in a report on Monday, July 22nd. Finally, StockNews.com cut shares of Calix from a hold rating to a sell rating in a report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $42.50.

Calix Stock Performance

Shares of NYSE CALX opened at $36.68 on Wednesday. The stock has a market cap of $2.41 billion, a P/E ratio of 118.32 and a beta of 1.76. The firm has a 50 day moving average price of $34.88 and a 200 day moving average price of $34.40. Calix has a 52-week low of $26.76 and a 52-week high of $48.53.

Calix (NYSE:CALX) last issued its quarterly earnings data on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The firm had revenue of $198.14 million during the quarter, compared to analysts’ expectations of $200.77 million. Calix had a net margin of 0.52% and a return on equity of 4.17%. The business’s revenue for the quarter was down 24.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.15 earnings per share. Analysts predict that Calix will post -0.36 earnings per share for the current fiscal year.

Institutional Trading of Calix

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. TD Asset Management Inc raised its position in Calix by 516.6% during the fourth quarter. TD Asset Management Inc now owns 1,610,885 shares of the communications equipment provider’s stock worth $70,380,000 after acquiring an additional 1,349,625 shares in the last quarter. Vanguard Group Inc. raised its position in Calix by 4.9% during the third quarter. Vanguard Group Inc. now owns 6,364,846 shares of the communications equipment provider’s stock worth $291,765,000 after acquiring an additional 298,277 shares in the last quarter. Quantbot Technologies LP bought a new stake in Calix during the first quarter worth $1,145,000. Congress Asset Management Co. MA raised its position in Calix by 9.6% during the fourth quarter. Congress Asset Management Co. MA now owns 875,687 shares of the communications equipment provider’s stock worth $38,259,000 after acquiring an additional 76,546 shares in the last quarter. Finally, FORA Capital LLC bought a new stake in Calix during the first quarter worth $724,000. 98.14% of the stock is owned by 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.