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

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

Several other equities research analysts have also recently issued reports on CALX. Needham & Company LLC reiterated a buy rating and set a $50.00 price objective on shares of Calix in a research report on Tuesday. Roth Mkm restated a buy rating and issued a $50.00 price target on shares of Calix in a research report on Monday. Rosenblatt Securities reduced their price target on shares of Calix from $45.00 to $35.00 and set a buy rating on the stock in a research report on Tuesday. Finally, StockNews.com upgraded shares of Calix from a sell rating to a hold rating in a research report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, one has 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 Moderate Buy and an average price target of $43.60.

Calix Price Performance

Calix stock opened at $28.25 on Wednesday. The stock has a market cap of $1.85 billion, a P/E ratio of 91.13 and a beta of 1.65. Calix has a 1 year low of $26.76 and a 1 year high of $53.90. The firm’s 50 day moving average price is $33.04 and its 200-day moving average price is $37.45.

Calix (NYSE:CALX) last released its quarterly earnings data on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.07. The firm had revenue of $264.73 million for the quarter, compared to analysts’ expectations of $264.41 million. Calix had a net margin of 2.19% and a return on equity of 6.65%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 earnings per share. As a group, equities analysts expect that Calix will post 0.45 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Calix by 4.9% during the third quarter. Vanguard Group Inc. now owns 6,364,846 shares of the communications equipment provider’s stock valued at $291,765,000 after acquiring an additional 298,277 shares during the last quarter. Wellington Management Group LLP increased its position in Calix by 24.6% during the third quarter. Wellington Management Group LLP now owns 1,588,802 shares of the communications equipment provider’s stock valued at $72,831,000 after acquiring an additional 313,380 shares during the last quarter. Artemis Investment Management LLP bought a new position in Calix during the fourth quarter valued at $18,165,000. Ameriprise Financial Inc. increased its position in 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Calix by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 461,005 shares of the communications equipment provider’s stock valued at $21,132,000 after acquiring an additional 20,015 shares during the last quarter. Institutional investors own 98.14% of the company’s stock.

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.