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

Calix (NYSE:CALX) had its price objective decreased by analysts at Craig Hallum from $48.00 to $41.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the communications equipment provider’s stock. Craig Hallum’s target price points to a potential upside of 46.06% from the stock’s current price.

CALX has been the subject of a number of other research reports. Roth Mkm reissued a “buy” rating and issued a $50.00 target price on shares of Calix in a research report on Monday. StockNews.com raised shares of Calix from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. Rosenblatt Securities lowered their target price on shares of Calix from $45.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price target on shares of Calix in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $43.60.

Calix Stock Up 0.1 %

Shares of CALX stock traded up $0.04 during trading on Wednesday, reaching $28.07. 420,171 shares of the company’s stock were exchanged, compared to its average volume of 1,000,168. Calix has a twelve month low of $26.76 and a twelve month high of $53.90. The firm’s fifty day moving average price is $33.16 and its 200-day moving average price is $37.51. The stock has a market capitalization of $1.84 billion, a PE ratio of 90.48 and a beta of 1.65.

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. The firm had revenue of $264.73 million for the quarter, compared to the consensus estimate of $264.41 million. Calix had a net margin of 2.19% and a return on equity of 6.65%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 earnings per share. As a group, analysts anticipate that Calix will post 0.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Calix

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings 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 worth $291,765,000 after buying an additional 298,277 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Calix by 24.6% in 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 purchasing an additional 313,380 shares during the last quarter. Artemis Investment Management LLP bought a new position in shares of Calix during the fourth quarter valued at about $18,165,000. Ameriprise Financial Inc. boosted its holdings 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 worth $65,534,000 after purchasing an additional 189,676 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Calix by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 461,005 shares of the communications equipment provider’s stock valued at $21,132,000 after buying an additional 20,015 shares during the last quarter. 98.14% of the stock is owned by 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.