Calix (NYSE:CALX) Price Target Raised to $44.00 at Roth Mkm

Calix (NYSE:CALX) had its target price hoisted by Roth Mkm from $43.00 to $44.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a buy rating on the communications equipment provider’s stock.

CALX has been the topic of several other research reports. Needham & Company LLC restated a buy rating and issued a $45.00 price target on shares of Calix in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of Calix from $28.00 to $41.00 and gave the company a neutral rating in a research report on Monday, July 22nd. Rosenblatt Securities cut their price objective on shares of Calix from $45.00 to $35.00 and set a buy rating on the stock in a research report on Tuesday, April 23rd. Craig Hallum cut their price objective on shares of Calix from $48.00 to $41.00 and set a buy rating on the stock in a research report on Wednesday, April 24th. Finally, Jefferies Financial Group cut shares of Calix from a buy rating to a hold rating and cut their price objective for the company from $48.00 to $30.00 in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $42.50.

Calix Stock Performance

Shares of CALX opened at $36.68 on Tuesday. The company’s fifty day moving average is $34.88 and its 200 day moving average is $34.46. Calix has a fifty-two week low of $26.76 and a fifty-two week high of $48.53. The stock has a market capitalization of $2.41 billion, a PE ratio of 118.32 and a beta of 1.76.

Calix (NYSE:CALX) last announced its quarterly earnings results on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.03. Calix had a net margin of 0.52% and a return on equity of 4.17%. The company had revenue of $198.14 million for the quarter, compared to analysts’ expectations of $200.77 million. During the same quarter in the previous year, the business posted $0.15 earnings per share. Calix’s quarterly revenue was down 24.1% on a year-over-year basis. As a group, research analysts forecast that Calix will post -0.27 earnings per share for the current year.

Hedge Funds Weigh In On Calix

Hedge funds and other institutional investors have recently modified their holdings of the stock. TD Asset Management Inc increased its holdings in shares of Calix by 516.6% during the 4th quarter. TD Asset Management Inc now owns 1,610,885 shares of the communications equipment provider’s stock valued at $70,380,000 after purchasing an additional 1,349,625 shares in the last quarter. Vanguard Group Inc. boosted its stake in Calix by 4.9% during the 3rd quarter. Vanguard Group Inc. now owns 6,364,846 shares of the communications equipment provider’s stock worth $291,765,000 after purchasing an additional 298,277 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Calix during the 1st quarter worth $1,145,000. Artemis Investment Management LLP acquired a new stake in Calix during the 4th quarter worth $18,165,000. Finally, Congress Asset Management Co. MA boosted its stake in Calix by 9.6% during the 4th quarter. Congress Asset Management Co. MA now owns 875,687 shares of the communications equipment provider’s stock worth $38,259,000 after purchasing an additional 76,546 shares during the last quarter. 98.14% of the stock is owned by hedge funds and other institutional investors.

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.