Calix (NYSE:CALX) Reaches New 52-Week Low at $30.73

Calix, Inc. (NYSE:CALX) reached a new 52-week low on Friday . The stock traded as low as $30.73 and last traded at $30.76, with a volume of 101269 shares trading hands. The stock had previously closed at $31.54.

Analyst Ratings Changes

Several research firms recently weighed in on CALX. Rosenblatt Securities reduced their target price on shares of Calix from $57.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, January 30th. StockNews.com upgraded shares of Calix from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. Finally, Needham & Company LLC reduced their target price on shares of Calix from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $54.60.

Calix Price Performance

The business’s 50 day simple moving average is $33.86 and its 200 day simple moving average is $38.31. The stock has a market cap of $1.98 billion, a P/E ratio of 67.31 and a beta of 1.65.

Calix (NYSE:CALX) last released its earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. Calix had a net margin of 3.06% and a return on equity of 7.92%. The firm had revenue of $264.73 million during the quarter, compared to analyst estimates of $264.41 million. During the same quarter in the previous year, the business earned $0.18 EPS. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Research analysts predict that Calix, Inc. will post 0.45 earnings per share for the current year.

Hedge Funds Weigh In On Calix

Institutional investors and hedge funds have recently made changes to their positions in the company. Coppell Advisory Solutions Corp. acquired a new position in shares of Calix in the 4th quarter valued at $45,000. Altshuler Shaham Ltd acquired a new position in shares of Calix in the 4th quarter valued at $54,000. Captrust Financial Advisors grew its holdings in shares of Calix by 31.7% in the 2nd quarter. Captrust Financial Advisors now owns 847 shares of the communications equipment provider’s stock valued at $29,000 after buying an additional 204 shares during the period. Natixis acquired a new position in shares of Calix in the 4th quarter valued at $60,000. Finally, Quarry LP grew its holdings in shares of Calix by 483.2% in the 1st quarter. Quarry LP now owns 974 shares of the communications equipment provider’s stock valued at $52,000 after buying an additional 807 shares during the period. Institutional investors and hedge funds own 98.14% of the company’s stock.

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.