Calix (NYSE:CALX) Price Target Lowered to $50.00 at Needham & Company LLC

Calix (NYSE:CALXFree Report) had its price objective reduced by Needham & Company LLC from $55.00 to $50.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the communications equipment provider’s stock.

CALX has been the subject of several other research reports. Rosenblatt Securities cut their price objective on Calix from $57.00 to $45.00 and set a buy rating for the company in a report on Tuesday. JPMorgan Chase & Co. cut their price target on Calix from $51.00 to $42.00 and set a neutral rating for the company in a report on Wednesday, October 25th. Roth Mkm cut their price target on Calix from $66.00 to $57.00 and set a buy rating for the company in a report on Wednesday, October 25th. Finally, StockNews.com started coverage on Calix in a report on Thursday, October 5th. They set a hold rating for the company. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $54.60.

Check Out Our Latest Stock Analysis on CALX

Calix Price Performance

CALX stock opened at $33.18 on Wednesday. Calix has a 1 year low of $31.64 and a 1 year high of $56.47. The company has a market cap of $2.19 billion, a P/E ratio of 73.73 and a beta of 1.63. The stock’s fifty day moving average price is $41.84 and its 200-day moving average price is $42.19.

Calix (NYSE:CALXGet Free Report) last issued its quarterly earnings data on Tuesday, January 30th. The communications equipment provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.36 by $0.07. Calix had a return on equity of 7.87% and a net margin of 3.06%. The company had revenue of $264.73 million during the quarter, compared to analyst estimates of $264.41 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. Calix’s revenue was up 8.3% compared to the same quarter last year. As a group, analysts expect that Calix will post 0.87 earnings per share for the current year.

Hedge Funds Weigh In On Calix

A number of hedge funds have recently made changes to their positions in CALX. BlackRock Inc. boosted its stake in shares of Calix by 45.9% in the first quarter. BlackRock Inc. now owns 7,446,078 shares of the communications equipment provider’s stock worth $319,511,000 after acquiring an additional 2,340,968 shares during the period. Vanguard Group Inc. lifted its position in shares of Calix by 35.2% in the first quarter. Vanguard Group Inc. now owns 5,586,440 shares of the communications equipment provider’s stock worth $239,713,000 after buying an additional 1,453,368 shares in the last quarter. State Street Corp lifted its position in shares of Calix by 58.5% in the first quarter. State Street Corp now owns 1,732,618 shares of the communications equipment provider’s stock worth $74,347,000 after buying an additional 639,780 shares in the last quarter. Artisan Partners Limited Partnership lifted its position in shares of Calix by 106.5% in the third quarter. Artisan Partners Limited Partnership now owns 1,074,175 shares of the communications equipment provider’s stock worth $49,240,000 after buying an additional 554,003 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Calix in the fourth quarter worth about $34,149,000. Institutional investors own 81.35% of the company’s stock.

Calix Company Profile

(Get Free Report)

Calix, Inc, together with its subsidiaries, provides cloud and software platforms, and systems and services in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company's cloud and software platforms, and systems and services enable broadband service providers (BSPs) to provide a range of services.

Further Reading

Analyst Recommendations for Calix (NYSE:CALX)

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