Calix (NYSE:CALX) Stock Price Up 3.7%

Calix, Inc. (NYSE:CALX)’s share price was up 3.7% during mid-day trading on Monday . The company traded as high as $38.19 and last traded at $38.02. Approximately 150,581 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 845,909 shares. The stock had previously closed at $36.68.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CALX shares. Jefferies Financial Group lowered Calix from a “buy” rating to a “hold” rating and dropped their target price for the company from $48.00 to $30.00 in a research report on Thursday, April 25th. JPMorgan Chase & Co. lifted their target price on Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. StockNews.com lowered Calix from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. Needham & Company LLC reissued a “buy” rating and issued a $45.00 target price on shares of Calix in a research report on Tuesday, July 23rd. Finally, Rosenblatt Securities lifted their target price on Calix from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Calix currently has a consensus rating of “Hold” and a consensus price target of $42.50.

Calix Stock Performance

The stock has a market cap of $2.62 billion, a price-to-earnings ratio of 126.06 and a beta of 1.76. The company has a 50-day simple moving average of $34.88 and a two-hundred day simple moving average of $34.33.

Calix (NYSE:CALX) last posted its quarterly earnings results on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.03. The firm had revenue of $198.14 million for the quarter, compared to analyst estimates of $200.77 million. Calix had a return on equity of 4.17% and a net margin of 0.52%. The business’s quarterly revenue was down 24.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.15 EPS. As a group, sell-side analysts predict that Calix, Inc. will post -0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. TD Asset Management Inc boosted its stake in shares of Calix by 516.6% during the 4th quarter. TD Asset Management Inc now owns 1,610,885 shares of the communications equipment provider’s stock worth $70,380,000 after acquiring an additional 1,349,625 shares during the period. Quantbot Technologies LP bought a new position in shares of Calix during the 1st quarter worth approximately $1,145,000. Congress Asset Management Co. MA boosted its stake in shares of Calix by 9.6% during the 4th quarter. Congress Asset Management Co. MA now owns 875,687 shares of the communications equipment provider’s stock worth $38,259,000 after acquiring an additional 76,546 shares during the period. FORA Capital LLC bought a new position in shares of Calix during the 1st quarter worth approximately $724,000. Finally, Koshinski Asset Management Inc. bought a new position in shares of Calix during the 1st quarter worth approximately $669,000. 98.14% of the stock is currently owned by institutional investors.

Calix Company Profile

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.