Craig Hallum Raises Calix (NYSE:CALX) Price Target to $50.00

Calix (NYSE:CALX) had its price target raised by Craig Hallum from $41.00 to $50.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the communications equipment provider’s stock.

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. upped their target price on shares of Calix from $28.00 to $41.00 and gave the company a neutral rating in a report on Monday, July 22nd. Jefferies Financial Group cut shares of Calix from a buy rating to a hold rating and lowered their price target for the company from $48.00 to $30.00 in a report on Thursday, April 25th. StockNews.com cut shares of Calix from a hold rating to a sell rating in a report on Friday, May 10th. Needham & Company LLC reissued a buy rating and issued a $45.00 price target on shares of Calix in a report on Tuesday. Finally, Rosenblatt Securities increased their price target on shares of Calix from $35.00 to $45.00 and gave the company a buy rating in a report on Wednesday. One 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 stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $42.50.

Calix Stock Performance

Shares of CALX stock opened at $36.68 on Wednesday. The firm’s 50-day moving average is $34.88 and its 200-day moving average is $34.46. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 118.32 and a beta of 1.76. Calix has a 52-week low of $26.76 and a 52-week high of $48.53.

Calix (NYSE:CALX) last issued its earnings results on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The company had revenue of $198.14 million for the quarter, compared to analysts’ expectations of $200.77 million. Calix had a net margin of 0.52% and a return on equity of 4.17%. Calix’s quarterly revenue was down 24.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.15 EPS. Sell-side analysts predict that Calix will post -0.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CALX. Vanguard Group Inc. increased its holdings in shares of Calix by 4.9% during the third quarter. Vanguard Group Inc. now owns 6,364,846 shares of the communications equipment provider’s stock worth $291,765,000 after purchasing an additional 298,277 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Calix by 74.7% during the fourth quarter. Pacer Advisors Inc. now owns 9,091 shares of the communications equipment provider’s stock worth $397,000 after purchasing an additional 3,886 shares during the period. Louisiana State Employees Retirement System bought a new position in shares of Calix during the fourth quarter worth approximately $721,000. Kornitzer Capital Management Inc. KS boosted its position in shares of Calix by 4.1% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 823,253 shares of the communications equipment provider’s stock worth $35,968,000 after acquiring an additional 32,800 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Calix by 1.3% during the 4th quarter. New York State Common Retirement Fund now owns 176,867 shares of the communications equipment provider’s stock worth $7,727,000 after acquiring an additional 2,190 shares in the last quarter. 98.14% of the stock is 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.