Calix (NYSE:CALX) Sets New 12-Month Low at $28.95

Calix, Inc. (NYSE:CALX - Get Free Report)'s share price hit a new 52-week low on Thursday . The company traded as low as $28.95 and last traded at $29.00, with a volume of 15924 shares changing hands. The stock had previously closed at $29.18.

Analyst Ratings Changes

A number of research analysts recently weighed in on CALX shares. StockNews.com upgraded shares of Calix from a "sell" rating to a "hold" rating in a research report on Wednesday, February 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 target price on shares of Calix in a report on Wednesday. Finally, 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 report on Tuesday, January 30th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $54.60.

Calix Stock Up 0.9 %

The stock's 50 day moving average price is $33.48 and its 200-day moving average price is $37.92. The stock has a market capitalization of $1.93 billion, a PE ratio of 65.42 and a beta of 1.65.

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

Hedge Funds Weigh In On Calix

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Captrust Financial Advisors boosted its stake in shares of Calix by 31.7% during the 2nd quarter. Captrust Financial Advisors now owns 847 shares of the communications equipment provider's stock worth $29,000 after purchasing an additional 204 shares during the period. Coppell Advisory Solutions Corp. purchased a new position in shares of Calix during the 4th quarter worth about $45,000. Advisors Asset Management Inc. boosted its position in Calix by 102.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 996 shares of the communications equipment provider's stock valued at $46,000 after buying an additional 503 shares during the period. TFO Wealth Partners LLC boosted its position in Calix by 13,787.5% in the 4th quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider's stock valued at $49,000 after buying an additional 1,103 shares during the period. Finally, KBC Group NV purchased a new stake in Calix in the 4th quarter valued at about $50,000. 98.14% of the stock is owned by hedge funds and other institutional investors.

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.