Calix (NYSE:CALX) Price Target Raised to $45.00

Calix (NYSE:CALX) had its target price raised by Rosenblatt Securities from $35.00 to $45.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the communications equipment provider’s stock.

Several other equities analysts also recently weighed in on CALX. Roth Mkm lifted their target price on Calix from $43.00 to $44.00 and gave the company a buy rating in a research report on Tuesday. Needham & Company LLC reaffirmed a buy rating and issued a $45.00 target price on shares of Calix in a research report on Tuesday. Jefferies Financial Group downgraded Calix from a buy rating to a hold rating and dropped their target price for the company from $48.00 to $30.00 in a research report on Thursday, April 25th. Craig Hallum lowered their price objective on Calix from $48.00 to $41.00 and set a buy rating for the company in a research report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. boosted their price objective on Calix from $28.00 to $41.00 and gave the stock a neutral rating in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Calix has a consensus rating of Hold and an average target price of $42.50.

Calix Price Performance

NYSE CALX opened at $36.68 on Wednesday. The company has a market cap of $2.41 billion, a P/E ratio of 118.32 and a beta of 1.76. The stock has a 50-day moving average of $34.88 and a two-hundred day moving average of $34.46. Calix has a 1-year low of $26.76 and a 1-year high of $48.53.

Calix (NYSE:CALX) last released its earnings results on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. The company had revenue of $198.14 million during the quarter, compared to the consensus estimate of $200.77 million. Calix had a return on equity of 4.17% and a net margin of 0.52%. Calix’s revenue was down 24.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.15 EPS. On average, analysts anticipate that Calix will post -0.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Calix

Institutional investors and hedge funds have recently made changes to their positions in the stock. TFO Wealth Partners LLC grew its position in shares of Calix by 13,787.5% during the fourth quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock worth $49,000 after buying an additional 1,103 shares in the last quarter. Headlands Technologies LLC acquired a new position in Calix in the first quarter valued at approximately $48,000. Quadrant Capital Group LLC boosted its holdings in Calix by 18.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,232 shares of the communications equipment provider’s stock valued at $98,000 after purchasing an additional 348 shares in the last quarter. Assetmark Inc. boosted its holdings in Calix by 41.5% in the fourth quarter. Assetmark Inc. now owns 2,233 shares of the communications equipment provider’s stock valued at $98,000 after purchasing an additional 655 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in Calix by 13.7% in the second quarter. Nisa Investment Advisors LLC now owns 2,520 shares of the communications equipment provider’s stock valued at $89,000 after purchasing an additional 303 shares in the last quarter. 98.14% of the stock is owned by institutional investors and hedge funds.

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.