Calix (NYSE:CALX) Shares Gap Down After Analyst Downgrade

Calix, Inc. (NYSE:CALX) shares gapped down prior to trading on Tuesday after Rosenblatt Securities lowered their price target on the stock from $45.00 to $35.00. The stock had previously closed at $29.56, but opened at $26.80. Rosenblatt Securities currently has a buy rating on the stock. Calix shares last traded at $29.63, with a volume of 518,765 shares changing hands.

Other equities research analysts have also recently issued research reports about the company. StockNews.com upgraded Calix from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. Needham & Company LLC reissued a “buy” rating and set a $50.00 price target on shares of Calix in a research report on Wednesday, April 17th. Finally, Roth Mkm reissued a “buy” rating and issued a $50.00 target price on shares of Calix in a research note on Monday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Calix currently has an average rating of “Moderate Buy” and an average target price of $44.25.

Institutional Investors Weigh In On Calix

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its holdings in shares of Calix by 114.1% during the third quarter. SG Americas Securities LLC now owns 22,643 shares of the communications equipment provider’s stock valued at $1,038,000 after purchasing an additional 12,066 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in Calix by 3.5% during the third quarter. Harbor Capital Advisors Inc. now owns 11,529 shares of the communications equipment provider’s stock worth $528,000 after purchasing an additional 394 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Calix by 12.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,663 shares of the communications equipment provider’s stock valued at $535,000 after buying an additional 1,303 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Calix by 9.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 371,316 shares of the communications equipment provider’s stock valued at $17,021,000 after purchasing an additional 31,912 shares during the period. Finally, Inspire Investing LLC grew its stake in shares of Calix by 5.5% in the third quarter. Inspire Investing LLC now owns 6,628 shares of the communications equipment provider’s stock worth $304,000 after acquiring an additional 348 shares during the last quarter. Institutional investors and hedge funds own 98.14% of the company’s stock.

Calix Stock Performance

The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 62.22 and a beta of 1.65. The firm’s 50-day simple moving average is $33.16 and its 200-day simple moving average is $37.51.

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

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.