Calix (NYSE:CALX) Price Target Lowered to $35.00 at Rosenblatt Securities

Calix (NYSE:CALX) had its price target cut by Rosenblatt Securities from $45.00 to $35.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a buy rating on the communications equipment provider’s stock.

CALX has been the subject of several other research reports. Roth Mkm reissued a buy rating and set a $50.00 price objective on shares of Calix in a research report on Monday. StockNews.com raised Calix from a sell rating to a hold rating in a research report on Wednesday, February 28th. Finally, Needham & Company LLC reissued a buy rating and set a $50.00 price objective on shares of Calix in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $41.33.

Calix Price Performance

Shares of NYSE:CALX opened at $28.25 on Tuesday. Calix has a fifty-two week low of $26.76 and a fifty-two week high of $53.90. The business has a 50-day moving average of $32.90 and a two-hundred day moving average of $37.38. The stock has a market capitalization of $1.85 billion, a P/E ratio of 91.13 and a beta of 1.65.

Calix (NYSE:CALX) last announced its quarterly earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. Calix had a return on equity of 6.64% and a net margin of 2.19%. The company had revenue of $264.73 million during the quarter, compared to analysts’ expectations of $264.41 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, research analysts expect that Calix will post 0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Calix

Several large investors have recently added to or reduced their stakes in CALX. TFO Wealth Partners LLC raised its holdings in Calix by 13,787.5% in the 4th quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock valued at $49,000 after acquiring an additional 1,103 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Calix by 194.4% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,531 shares of the communications equipment provider’s stock valued at $70,000 after acquiring an additional 1,011 shares in the last quarter. Assetmark Inc. raised its holdings in Calix by 31.9% in the 3rd quarter. Assetmark Inc. now owns 1,578 shares of the communications equipment provider’s stock valued at $72,000 after acquiring an additional 382 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Calix by 18.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,232 shares of the communications equipment provider’s stock valued at $98,000 after acquiring an additional 348 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Calix in the 3rd quarter valued at approximately $111,000. Institutional investors and hedge funds own 98.14% of the company’s stock.

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.