Calix (NYSE:CALX) Sets New 1-Year Low at $28.95

Calix, Inc. (NYSE:CALX) reached a new 52-week low during trading on Thursday . The company traded as low as $28.95 and last traded at $29.00, with a volume of 15924 shares. The stock had previously closed at $29.18.

Analysts Set New Price Targets

CALX has been the topic of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price on shares of Calix in a research note on Wednesday. Rosenblatt Securities cut their target price on Calix from $57.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, January 30th. Finally, StockNews.com raised Calix from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.60.

Calix Price Performance

The company has a market capitalization of $1.91 billion, a PE ratio of 65.06 and a beta of 1.65. The firm has a 50-day moving average of $33.38 and a 200 day moving average of $37.80.

Calix (NYSE:CALX) last released its quarterly earnings data 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. Calix had a return on equity of 7.92% and a net margin of 3.06%. The company had revenue of $264.73 million for the quarter, compared to analysts’ expectations of $264.41 million. During the same period last year, the firm posted $0.18 earnings per share. Calix’s revenue was up 8.3% compared to the same quarter last year. Equities analysts expect that Calix, Inc. will post 0.45 EPS for the current year.

Institutional Investors Weigh In On Calix

Several institutional investors have recently modified their holdings of CALX. Maryland State Retirement & Pension System purchased a new position in Calix in the first quarter worth about $700,000. Norden Group LLC boosted its position in Calix by 1,634.9% in the first quarter. Norden Group LLC now owns 143,299 shares of the communications equipment provider’s stock worth $4,752,000 after purchasing an additional 135,039 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Calix by 463.7% in the first quarter. State of Alaska Department of Revenue now owns 35,711 shares of the communications equipment provider’s stock worth $1,184,000 after purchasing an additional 29,376 shares during the last quarter. Congress Wealth Management LLC DE boosted its position in Calix by 41.0% in the first quarter. Congress Wealth Management LLC DE now owns 175,807 shares of the communications equipment provider’s stock worth $5,830,000 after purchasing an additional 51,084 shares during the last quarter. Finally, Harbour Capital Advisors LLC boosted its position in Calix by 52.0% in the first quarter. Harbour Capital Advisors LLC now owns 10,450 shares of the communications equipment provider’s stock worth $335,000 after purchasing an additional 3,575 shares during 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.