Calix (NYSE:CALX) Trading Down 4.6%

Calix, Inc. (NYSE:CALX)’s stock price fell 4.6% during trading on Tuesday . The company traded as low as $35.09 and last traded at $35.68. 448,222 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 844,500 shares. The stock had previously closed at $37.39.

Analysts Set New Price Targets

A number of brokerages have commented on CALX. Rosenblatt Securities lifted their price objective on shares of Calix from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday. StockNews.com cut shares of Calix from a “hold” rating to a “sell” rating in a research note on Wednesday. Jefferies Financial Group cut shares of Calix from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $48.00 to $30.00 in a research note on Thursday, April 25th. Needham & Company LLC restated a “buy” rating and issued a $45.00 target price on shares of Calix in a report on Tuesday. Finally, Craig Hallum raised their target price on shares of Calix from $41.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Calix currently has an average rating of “Hold” and an average target price of $42.50.

Calix Trading Up 0.2 %

The company has a market capitalization of $2.27 billion, a PE ratio of 111.94 and a beta of 1.76. The firm’s 50-day simple moving average is $34.78 and its 200-day simple moving average is $34.51.

Calix (NYSE:CALX) last released its quarterly earnings data on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.03. The company had revenue of $198.14 million during the quarter, compared to analysts’ expectations of $200.77 million. Calix had a net margin of 0.52% and a return on equity of 4.20%. The firm’s quarterly revenue was down 24.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.15 EPS. As a group, analysts anticipate that Calix, Inc. will post -0.27 EPS for the current year.

Institutional Investors Weigh In On Calix

Several hedge funds have recently modified their holdings of the business. Baillie Gifford & Co. lifted its position in shares of Calix by 57.8% in the 2nd quarter. Baillie Gifford & Co. now owns 14,972 shares of the communications equipment provider’s stock worth $530,000 after purchasing an additional 5,487 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Calix by 1.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 29,300 shares of the communications equipment provider’s stock worth $1,038,000 after acquiring an additional 300 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Calix by 13.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,520 shares of the communications equipment provider’s stock worth $89,000 after acquiring an additional 303 shares in the last quarter. Portside Wealth Group LLC raised its stake in shares of Calix by 4.4% during the 2nd quarter. Portside Wealth Group LLC now owns 7,214 shares of the communications equipment provider’s stock worth $256,000 after acquiring an additional 301 shares in the last quarter. Finally, Diversified Trust Co raised its stake in shares of Calix by 11.4% during the 2nd quarter. Diversified Trust Co now owns 10,033 shares of the communications equipment provider’s stock worth $355,000 after acquiring an additional 1,026 shares in the last quarter. Hedge funds and other 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.