Calix (NYSE:CALX) Given New $35.00 Price Target at Rosenblatt Securities

Calix (NYSE:CALX) had its price objective lowered by Rosenblatt Securities from $45.00 to $35.00 in a report released on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the communications equipment provider’s stock.

Several other research analysts have also commented on the company. Roth Mkm reiterated a buy rating and issued a $50.00 price target on shares of Calix in a research report on Monday. StockNews.com upgraded Calix from a sell rating to a hold rating in a report on Wednesday, February 28th. Finally, Needham & Company LLC restated a buy rating and set a $50.00 price target on shares of Calix in a report on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $44.25.

Calix Trading Down 5.3 %

Shares of CALX stock opened at $28.00 on Tuesday. The stock’s 50-day moving average price is $33.16 and its 200-day moving average price is $37.51. Calix has a 12-month low of $26.76 and a 12-month high of $53.90. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 62.22 and a beta of 1.65.

Calix (NYSE:CALX) last posted its earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. The firm had revenue of $264.73 million during the quarter, compared to the consensus estimate of $264.41 million. Calix had a return on equity of 7.92% and a net margin of 3.06%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 EPS. As a group, research analysts predict that Calix will post 0.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Calix

Several hedge funds and other institutional investors have recently modified their holdings of CALX. Vanguard Group Inc. increased its stake in Calix by 4.9% in the third 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 period. Wellington Management Group LLP increased its stake in Calix by 24.6% in the 3rd quarter. Wellington Management Group LLP now owns 1,588,802 shares of the communications equipment provider’s stock worth $72,831,000 after buying an additional 313,380 shares during the period. Artemis Investment Management LLP bought a new stake in Calix during the 4th quarter valued at about $18,165,000. Ameriprise Financial Inc. boosted its position in Calix by 15.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,429,624 shares of the communications equipment provider’s stock valued at $65,534,000 after buying an additional 189,676 shares during the period. Finally, Charles Schwab Investment Management Inc. grew 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 worth $21,132,000 after acquiring an additional 20,015 shares in the last quarter. 98.14% of the stock is currently 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.