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

Calix (NYSE:CALX) had its price objective decreased by Craig Hallum from $48.00 to $41.00 in a report published on Wednesday morning, Benzinga reports. Craig Hallum currently has a buy rating on the communications equipment provider’s stock.

Other research analysts have also issued research reports about the stock. Rosenblatt Securities lowered their target price on shares of Calix from $45.00 to $35.00 and set a buy rating for the company in a research note on Tuesday. Roth Mkm restated a buy rating and issued a $50.00 price objective on shares of Calix in a report on Monday, April 22nd. Needham & Company LLC reaffirmed a buy rating and set a $50.00 price objective on shares of Calix in a research report on Tuesday. Finally, StockNews.com raised Calix from a sell rating to a hold rating in a research report on Wednesday, February 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $41.33.

Calix Stock Performance

CALX opened at $28.41 on Wednesday. The stock has a market capitalization of $1.86 billion, a PE ratio of 91.65 and a beta of 1.65. Calix has a one year low of $26.76 and a one year high of $53.90. The business’s 50 day moving average price is $32.79 and its 200 day moving average price is $37.27.

Calix (NYSE:CALX) last announced its quarterly 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. The business had revenue of $264.73 million for the quarter, compared to analyst estimates of $264.41 million. Calix had a return on equity of 6.64% and a net margin of 2.19%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 EPS. As a group, equities research analysts forecast that Calix will post 0.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Calix

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC grew its stake 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 worth $1,038,000 after acquiring an additional 12,066 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in Calix by 3.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 11,529 shares of the communications equipment provider’s stock worth $528,000 after purchasing an additional 394 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in 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 purchasing an additional 1,303 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Calix by 9.4% during 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 purchasing an additional 31,912 shares during the period. Finally, Inspire Investing LLC raised its position in Calix by 5.5% in the 3rd quarter. Inspire Investing LLC now owns 6,628 shares of the communications equipment provider’s stock valued at $304,000 after purchasing 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.