JPMorgan Chase & Co. Cuts Calix (NYSE:CALX) Price Target to $34.00

Calix (NYSE:CALX) had its price target trimmed by JPMorgan Chase & Co. from $45.00 to $34.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the communications equipment provider’s stock.

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price objective on shares of Calix in a report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Calix currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.33.

Calix Stock Up 0.0 %

NYSE CALX opened at $33.80 on Thursday. Calix has a twelve month low of $26.76 and a twelve month high of $42.50. The business’s fifty day moving average is $35.25 and its 200 day moving average is $35.81. The company has a market cap of $2.25 billion, a price-to-earnings ratio of -75.12 and a beta of 1.75.

Calix (NYSE:CALX) last announced its earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.31). Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. On average, research analysts anticipate that Calix will post -0.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Calix

In other news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $38.15, for a total transaction of $953,750.00. Following the transaction, the director now directly owns 2,164,188 shares of the company’s stock, valued at approximately $82,563,772.20. The trade was a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 16.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its position in Calix by 367.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider’s stock valued at $28,000 after purchasing an additional 640 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Calix by 29.8% during the fourth quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider’s stock valued at $54,000 after buying an additional 358 shares during the last quarter. FMR LLC increased its position in shares of Calix by 49.0% during the third quarter. FMR LLC now owns 2,398 shares of the communications equipment provider’s stock valued at $93,000 after acquiring an additional 789 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Calix during the fourth quarter valued at approximately $84,000. Finally, KBC Group NV raised its holdings in Calix by 57.8% in the 4th quarter. KBC Group NV now owns 2,772 shares of the communications equipment provider’s stock worth $97,000 after acquiring an additional 1,015 shares during the last quarter. Institutional investors 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.