Craig Hallum Trims Calix (NYSE:CALX) Target Price to $41.00

Calix (NYSE:CALX) had its target price lowered by Craig Hallum from $48.00 to $41.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the communications equipment provider’s stock.

CALX has been the topic of a number of other reports. Rosenblatt Securities decreased their price objective on Calix from $45.00 to $35.00 and set a buy rating on the stock in a research report on Tuesday. Needham & Company LLC restated a buy rating and set a $50.00 price target on shares of Calix in a report on Tuesday. StockNews.com raised shares of Calix from a sell rating to a hold rating in a research note on Wednesday, February 28th. Finally, Roth Mkm reissued a buy rating and issued a $50.00 target price on shares of Calix in a research note on Monday, April 22nd. One 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $41.33.

Calix Stock Performance

Shares of CALX opened at $28.41 on Wednesday. Calix has a fifty-two week low of $26.76 and a fifty-two week high of $53.90. The company’s fifty day moving average is $32.79 and its 200 day moving average is $37.27. The stock has a market capitalization of $1.86 billion, a PE ratio of 91.65 and a beta of 1.65.

Calix (NYSE:CALX) last posted its earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. Calix had a net margin of 2.19% and a return on equity of 6.64%. The firm had revenue of $264.73 million for the quarter, compared to the consensus estimate of $264.41 million. During the same period in the previous year, the firm posted $0.18 EPS. The business’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, research analysts forecast that Calix will post 0.45 earnings per share for the current year.

Institutional Trading of Calix

A number of hedge funds and other institutional investors have recently bought and sold shares of CALX. Vanguard Group Inc. grew its holdings in shares of Calix by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 6,422,915 shares of the communications equipment provider’s stock worth $280,617,000 after purchasing an additional 58,069 shares during the last quarter. Wellington Management Group LLP boosted its position in Calix by 10.5% in the 4th quarter. Wellington Management Group LLP now owns 1,755,497 shares of the communications equipment provider’s stock valued at $76,698,000 after buying an additional 166,695 shares during the period. Dimensional Fund Advisors LP grew its stake in Calix by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,672,146 shares of the communications equipment provider’s stock worth $73,057,000 after acquiring an additional 35,992 shares in the last quarter. TD Asset Management Inc increased its position in shares of 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 during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of Calix by 15.3% during the third quarter. Ameriprise Financial Inc. now owns 1,429,624 shares of the communications equipment provider’s stock valued at $65,534,000 after acquiring an additional 189,676 shares in the last quarter. Hedge funds and other institutional investors own 98.14% of the company’s stock.

Calix Company Profile

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.