Calix (NYSE:CALX) Shares Gap Down Following Analyst Downgrade

Calix, Inc. (NYSE:CALX) gapped down before the market opened on Tuesday after Rosenblatt Securities lowered their price target on the stock from $45.00 to $35.00. The stock had previously closed at $29.56, but opened at $26.80. Rosenblatt Securities currently has a buy rating on the stock. Calix shares last traded at $29.63, with a volume of 518,765 shares traded.

Several other brokerages have also recently weighed in on CALX. StockNews.com raised shares of Calix from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. 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. Finally, Roth Mkm reiterated a “buy” rating and issued a $50.00 price objective on shares of Calix in a report on Monday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $44.25.

Institutional Trading of Calix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CALX. SG Americas Securities LLC boosted its position in shares of Calix by 114.1% during the third quarter. SG Americas Securities LLC now owns 22,643 shares of the communications equipment provider’s stock worth $1,038,000 after buying an additional 12,066 shares during the period. Harbor Capital Advisors Inc. lifted its stake in Calix by 3.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 11,529 shares of the communications equipment provider’s stock worth $528,000 after acquiring an additional 394 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Calix by 12.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,663 shares of the communications equipment provider’s stock worth $535,000 after acquiring an additional 1,303 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Calix by 9.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 371,316 shares of the communications equipment provider’s stock valued at $17,021,000 after acquiring an additional 31,912 shares during the period. Finally, Inspire Investing LLC grew its position in Calix by 5.5% in the 3rd quarter. Inspire Investing LLC now owns 6,628 shares of the communications equipment provider’s stock valued at $304,000 after acquiring an additional 348 shares in the last quarter. Hedge funds and other institutional investors own 98.14% of the company’s stock.

Calix Price Performance

The stock’s 50 day simple moving average is $33.16 and its 200-day simple moving average is $37.51. The company has a market capitalization of $1.83 billion, a PE ratio of 62.22 and a beta of 1.65.

Calix (NYSE:CALX) last issued its quarterly earnings results 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. Calix had a net margin of 3.06% and a return on equity of 7.92%. The company had revenue of $264.73 million during the quarter, compared to analysts’ expectations of $264.41 million. During the same quarter last year, the company posted $0.18 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. On average, equities analysts predict that Calix, Inc. will post 0.45 earnings per share for the current year.

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.