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

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

Other equities research analysts also recently issued research reports about the stock. StockNews.com upgraded 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 issued a $50.00 price target on shares of Calix in a research note on Wednesday, April 17th. Finally, Roth Mkm reaffirmed a buy rating and set a $50.00 price objective on shares of Calix in a report on Monday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $44.25.

Calix Stock Performance

Calix stock opened at $28.00 on Tuesday. The company has a market capitalization of $1.83 billion, a P/E ratio of 62.22 and a beta of 1.65. Calix has a fifty-two week low of $26.76 and a fifty-two week high of $53.90. The stock has a 50-day simple moving average of $33.16 and a 200-day simple moving average of $37.51.

Calix (NYSE:CALX) last posted its quarterly earnings data on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. The firm had revenue of $264.73 million for the quarter, compared to analyst estimates of $264.41 million. Calix had a net margin of 3.06% and a return on equity of 7.92%. Calix’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the firm posted $0.18 EPS. As a group, analysts forecast that Calix will post 0.45 earnings per share for the current year.

Institutional Investors Weigh In On Calix

Institutional investors and hedge funds have recently modified their holdings of the company. TFO Wealth Partners LLC increased its position in shares of Calix by 13,787.5% in the fourth quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock valued at $49,000 after buying an additional 1,103 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in Calix by 194.4% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,531 shares of the communications equipment provider’s stock worth $70,000 after acquiring an additional 1,011 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Calix by 31.9% in the third quarter. Assetmark Inc. now owns 1,578 shares of the communications equipment provider’s stock valued at $72,000 after purchasing an additional 382 shares in the last quarter. Quadrant Capital Group LLC grew its position in shares of Calix by 18.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,232 shares of the communications equipment provider’s stock valued at $98,000 after purchasing an additional 348 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Calix during the 3rd quarter worth approximately $111,000. Institutional investors and hedge funds own 98.14% of the company’s stock.

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.