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

Calix, Inc. (NYSE:CALX - Get Free Report) 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 trading hands.

CALX has been the topic of a number of other reports. Needham & Company LLC restated a "buy" rating and issued a $50.00 target price on shares of Calix in a report on Wednesday, April 17th. StockNews.com upgraded shares of Calix from a "sell" rating to a "hold" rating in a report on Wednesday, February 28th. Finally, Roth Mkm restated a "buy" rating and issued a $50.00 target price on shares of Calix in a report on Monday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $44.25.

Hedge Funds Weigh In On Calix

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Calix by 4.9% during the 3rd quarter. Vanguard Group Inc. now owns 6,364,846 shares of the communications equipment provider's stock valued at $291,765,000 after purchasing an additional 298,277 shares during the last quarter. Wellington Management Group LLP boosted its position in Calix by 24.6% in the 3rd quarter. Wellington Management Group LLP now owns 1,588,802 shares of the communications equipment provider's stock valued at $72,831,000 after buying an additional 313,380 shares during the period. Artemis Investment Management LLP purchased a new stake in Calix in the 4th quarter valued at about $18,165,000. Ameriprise Financial Inc. boosted its position in Calix by 15.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,429,624 shares of the communications equipment provider's stock valued at $65,534,000 after buying an additional 189,676 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Calix by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 461,005 shares of the communications equipment provider's stock valued at $21,132,000 after buying an additional 20,015 shares during the period. 98.14% of the stock is currently owned by institutional investors.

Calix Trading Down 5.3 %

The company has a market capitalization of $1.83 billion, a PE 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 - Get Free Report) last released its quarterly earnings data on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.07. The company had revenue of $264.73 million during the quarter, compared to analysts' expectations of $264.41 million. Calix had a net margin of 3.06% and a return on equity of 7.92%. The firm's quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 EPS. As a group, analysts anticipate that Calix, Inc. will post 0.45 EPS for the current year.

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.