Calix Inc. (CALX) Downgraded by Zacks Investment Research
Calix Inc. (NYSE:CALX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.
According to Zacks, “Calix is a global leader in access innovation. Its Unified Access portfolio of broadband communications access systems and software enables communications service providers worldwide to transform their networks and become the broadband provider of choice to their subscribers. “
Several other brokerages also recently weighed in on CALX. TheStreet raised Calix from a “sell” rating to a “hold” rating in a research report on Friday, August 5th. Morgan Stanley set a $9.00 price target on Calix and gave the stock a “hold” rating in a research report on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Calix presently has an average rating of “Hold” and a consensus price target of $8.82.
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Shares of Calix (NYSE:CALX) traded up 1.69% during midday trading on Monday, reaching $7.21. The company’s stock had a trading volume of 63,712 shares. The stock’s market capitalization is $351.72 million. The company has a 50 day moving average price of $7.32 and a 200-day moving average price of $7.16. Calix has a 52 week low of $5.64 and a 52 week high of $9.07.
Calix (NYSE:CALX) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.02. The company had revenue of $107.40 million for the quarter, compared to the consensus estimate of $106.20 million. Calix had a negative return on equity of 4.88% and a negative net margin of 5.95%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $0.06 EPS. On average, equities research analysts expect that Calix will post ($0.06) EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Ameriprise Financial Inc. raised its position in shares of Calix by 25.7% in the second quarter. Ameriprise Financial Inc. now owns 3,325,466 shares of the company’s stock worth $22,979,000 after buying an additional 679,219 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Calix by 0.3% in the second quarter. Vanguard Group Inc. now owns 3,051,748 shares of the company’s stock worth $21,087,000 after buying an additional 10,176 shares in the last quarter. Lapides Asset Management LLC raised its position in shares of Calix by 5.5% in the second quarter. Lapides Asset Management LLC now owns 2,798,000 shares of the company’s stock worth $19,334,000 after buying an additional 146,800 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Calix by 8.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,790,251 shares of the company’s stock worth $19,280,000 after buying an additional 228,161 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Calix by 11.5% in the first quarter. Renaissance Technologies LLC now owns 1,994,300 shares of the company’s stock worth $14,140,000 after buying an additional 205,400 shares in the last quarter. 66.10% of the stock is currently owned by hedge funds and other institutional investors.
Calix Company Profile
Calix, Inc is a provider of broadband communications access systems and software for fiber- and copper-based network architectures that enable communications service providers (CSPs), to transform their networks and connect to their residential and business subscribers. The Company enables CSPs to provide a range of revenue-generating services, from basic voice and data to advanced broadband services, over legacy and next-generation access networks.
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