Calix, Inc (NYSE:CALX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released 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. “

Other research analysts also recently issued research reports about the company. Northland Securities set a $7.00 price target on Calix and gave the company a “hold” rating in a research note on Monday, August 7th. ValuEngine raised Calix from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Finally, BidaskClub raised Calix from a “strong sell” rating to a “sell” rating in a research note on Saturday. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $6.50.

Shares of Calix (NYSE:CALX) traded up 1.19% during trading on Monday, hitting $5.10. The company had a trading volume of 563,237 shares. Calix has a 12-month low of $4.85 and a 12-month high of $8.10. The firm has a 50 day moving average of $6.70 and a 200 day moving average of $6.85. The stock’s market cap is $255.10 million.

Calix (NYSE:CALX) last posted its quarterly earnings results on Tuesday, August 8th. The communications equipment provider reported ($0.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.15) by $0.15. The company had revenue of $126.12 million during the quarter, compared to analyst estimates of $123.70 million. Calix had a negative net margin of 12.72% and a negative return on equity of 28.88%. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period last year, the company earned ($0.04) EPS. On average, analysts forecast that Calix will post ($1.21) earnings per share for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in CALX. Divisar Capital Management LLC boosted its stake in Calix by 479.1% in the second quarter. Divisar Capital Management LLC now owns 1,073,236 shares of the communications equipment provider’s stock worth $7,352,000 after buying an additional 887,915 shares in the last quarter. Lapides Asset Management LLC boosted its stake in Calix by 8.7% in the first quarter. Lapides Asset Management LLC now owns 2,881,800 shares of the communications equipment provider’s stock worth $20,893,000 after buying an additional 230,800 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Calix by 8.9% in the second quarter. Renaissance Technologies LLC now owns 2,626,018 shares of the communications equipment provider’s stock worth $17,988,000 after buying an additional 214,418 shares in the last quarter. Soros Fund Management LLC purchased a new stake in Calix during the first quarter worth approximately $1,447,000. Finally, Bank of New York Mellon Corp boosted its stake in Calix by 27.7% in the first quarter. Bank of New York Mellon Corp now owns 610,268 shares of the communications equipment provider’s stock worth $4,424,000 after buying an additional 132,305 shares in the last quarter. Institutional investors and hedge funds own 63.60% of the company’s stock.

About Calix

Calix, Inc provides 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 various services, from basic voice and data to advanced broadband services, over legacy and next-generation access networks.

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