Calix (NYSE:CALX) Stock Price Up 3.7%

Calix, Inc. (NYSE:CALX) rose 3.7% on Monday . The company traded as high as $38.19 and last traded at $38.02. Approximately 150,581 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 845,909 shares. The stock had previously closed at $36.68.

Analyst Upgrades and Downgrades

CALX has been the subject of a number of research analyst reports. Jefferies Financial Group downgraded shares of Calix from a “buy” rating to a “hold” rating and cut their price target for the company from $48.00 to $30.00 in a report on Thursday, April 25th. StockNews.com downgraded Calix from a “hold” rating to a “sell” rating in a report on Wednesday, July 24th. Roth Mkm boosted their price objective on Calix from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Rosenblatt Securities boosted their price objective on Calix from $35.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Needham & Company LLC restated a “buy” rating and set a $45.00 price objective on shares of Calix in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Calix has an average rating of “Hold” and an average price target of $42.50.

Calix Trading Up 8.5 %

The company has a market cap of $2.62 billion, a price-to-earnings ratio of 126.06 and a beta of 1.76. The business has a fifty day moving average price of $34.88 and a two-hundred day moving average price of $34.33.

Calix (NYSE:CALX) last issued its earnings results on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share 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 the consensus estimate of $200.77 million. Calix had a return on equity of 4.17% and a net margin of 0.52%. The firm’s quarterly revenue was down 24.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS. On average, analysts anticipate that Calix, Inc. will post -0.36 EPS for the current year.

Hedge Funds Weigh In On Calix

A number of large investors have recently made changes to their positions in the business. Panagora Asset Management Inc. increased its holdings in shares of Calix by 9.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 111,113 shares of the communications equipment provider’s stock valued at $3,937,000 after purchasing an additional 9,775 shares during the period. Baillie Gifford & Co. increased its holdings in Calix by 57.8% in the second quarter. Baillie Gifford & Co. now owns 14,972 shares of the communications equipment provider’s stock worth $530,000 after buying an additional 5,487 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in Calix by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 29,300 shares of the communications equipment provider’s stock worth $1,038,000 after buying an additional 300 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Calix by 13.7% in the second quarter. Nisa Investment Advisors LLC now owns 2,520 shares of the communications equipment provider’s stock worth $89,000 after buying an additional 303 shares during the last quarter. Finally, Portside Wealth Group LLC increased its holdings in Calix by 4.4% in the second quarter. Portside Wealth Group LLC now owns 7,214 shares of the communications equipment provider’s stock worth $256,000 after buying an additional 301 shares during the last quarter. Institutional investors and hedge funds own 98.14% of the company’s stock.

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.