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

Calix (NYSE:CALX) had its price objective reduced by investment analysts at Rosenblatt Securities from $45.00 to $35.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the communications equipment provider’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 18.48% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Roth Mkm reissued a “buy” rating and issued a $50.00 price objective on shares of Calix in a research report on Monday. StockNews.com raised shares of 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 objective on shares of Calix in a report on Wednesday, April 17th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $44.25.

Calix Stock Performance

Shares of NYSE CALX opened at $29.54 on Tuesday. The business’s 50-day simple moving average is $33.27 and its 200-day simple moving average is $37.62. Calix has a 52 week low of $28.95 and a 52 week high of $53.90. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 65.65 and a beta of 1.65.

Calix (NYSE:CALX) last posted its quarterly earnings data on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.07. The business had revenue of $264.73 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 EPS. As a group, equities research analysts forecast that Calix will post 0.45 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CALX. Vanguard Group Inc. increased its position in shares of Calix by 4.9% during the 3rd 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 in the last quarter. Wellington Management Group LLP grew its stake in Calix by 24.6% during the third 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 last quarter. Artemis Investment Management LLP acquired a new stake in shares of Calix during the fourth quarter worth approximately $18,165,000. Ameriprise Financial Inc. raised its stake in shares of Calix by 15.3% in the third quarter. Ameriprise Financial Inc. now owns 1,429,624 shares of the communications equipment provider’s stock valued at $65,534,000 after acquiring an additional 189,676 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Calix by 4.5% during 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 during the last quarter. 98.14% of the stock is owned by 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.