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

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

CALX has been the subject of several other research reports. StockNews.com upgraded Calix from a sell rating to a hold rating in a research note on Wednesday, February 28th. Roth Mkm restated a buy rating and set a $50.00 price target on shares of Calix in a research note on Monday. Finally, Needham & Company LLC restated a buy rating and set a $50.00 price target on shares of Calix in a research note on Wednesday, April 17th. One investment 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’s stock. According to MarketBeat, the stock has an average rating of Hold and an average target price of $41.33.

Calix Stock Performance

Shares of NYSE CALX opened at $28.25 on Tuesday. Calix has a twelve month low of $26.76 and a twelve month high of $53.90. The stock has a 50 day moving average of $32.90 and a two-hundred day moving average of $37.38. The stock has a market cap of $1.85 billion, a P/E ratio of 91.13 and a beta of 1.65.

Calix (NYSE:CALX) last issued 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. Calix had a return on equity of 6.64% and a net margin of 2.19%. The company had revenue of $264.73 million during the quarter, compared to analysts’ expectations of $264.41 million. During the same quarter in the previous year, the business earned $0.18 earnings per share. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, research analysts predict that Calix will post 0.45 earnings per share for the current year.

Institutional Trading of Calix

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Calix by 4.9% in the third quarter. Vanguard Group Inc. now owns 6,364,846 shares of the communications equipment provider’s stock valued at $291,765,000 after purchasing an additional 298,277 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of 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 valued at $72,831,000 after acquiring 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 valued at $18,165,000. Ameriprise Financial Inc. boosted its stake in shares of Calix by 15.3% during 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. boosted its stake in shares of Calix by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 461,005 shares of the communications equipment provider’s stock valued at $21,132,000 after acquiring an additional 20,015 shares during the last quarter. 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.