Calix (NYSE:CALX) Trading Down 4.6%

Calix, Inc. (NYSE:CALX) dropped 4.6% on Tuesday . The stock traded as low as $35.09 and last traded at $35.68. Approximately 448,222 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 844,500 shares. The stock had previously closed at $37.39.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CALX shares. JPMorgan Chase & Co. lifted their target price on shares of Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday. Needham & Company LLC reissued a “buy” rating and set a $45.00 target price on shares of Calix in a research report on Tuesday. Craig Hallum lifted their target price on shares of Calix from $41.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday. Roth Mkm lifted their target price on shares of Calix from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Rosenblatt Securities boosted their price target on shares of Calix from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $42.50.

Calix Trading Up 0.2 %

The company has a market capitalization of $2.27 billion, a P/E ratio of 111.94 and a beta of 1.76. The business’s fifty day moving average price is $34.78 and its 200-day moving average price is $34.51.

Calix (NYSE:CALX) last posted its quarterly earnings data on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 0.52% and a return on equity of 4.20%. The firm’s revenue was down 24.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 EPS. As a group, equities research analysts forecast that Calix, Inc. will post -0.27 EPS for the current year.

Institutional Trading of Calix

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Calix by 14.0% in the first quarter. Vanguard Group Inc. now owns 7,323,628 shares of the communications equipment provider’s stock worth $242,852,000 after purchasing an additional 900,713 shares during the last quarter. Wellington Management Group LLP lifted its stake in Calix by 10.5% in the fourth quarter. Wellington Management Group LLP now owns 1,755,497 shares of the communications equipment provider’s stock worth $76,698,000 after purchasing an additional 166,695 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Calix by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,672,146 shares of the communications equipment provider’s stock worth $73,057,000 after purchasing an additional 35,992 shares during the last quarter. TD Asset Management Inc raised its stake 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 valued at $70,380,000 after acquiring an additional 1,349,625 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its stake in shares of Calix by 14.8% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,233,425 shares of the communications equipment provider’s stock valued at $53,888,000 after acquiring an additional 159,250 shares during the last quarter. 98.14% of the stock is owned by institutional investors.

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.