Calix (NYSE:CALX) Sets New 52-Week Low at $28.95

Calix, Inc. (NYSE:CALX)’s share price hit a new 52-week low during mid-day trading 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 equities research analysts have recently issued reports on CALX shares. Rosenblatt Securities cut their price objective on shares of Calix from $57.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, January 30th. StockNews.com raised shares of Calix from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Calix in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Calix presently has an average rating of “Moderate Buy” and a consensus price target of $54.60.

Calix Stock Performance

The firm has a market cap of $1.92 billion, a PE ratio of 64.85 and a beta of 1.65. The company’s 50-day simple moving average is $33.58 and its two-hundred day simple moving average is $37.98.

Calix (NYSE:CALX) last announced its quarterly earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.07. The business 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 revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.18 EPS. On average, analysts expect that Calix, Inc. will post 0.45 EPS for the current year.

Institutional Investors Weigh In On Calix

Several institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors raised its holdings in Calix by 31.7% in 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 in the last quarter. Coppell Advisory Solutions Corp. bought a new position in Calix in the 4th quarter worth $45,000. Advisors Asset Management Inc. raised its holdings in Calix by 102.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 996 shares of the communications equipment provider’s stock worth $46,000 after purchasing an additional 503 shares in the last quarter. TFO Wealth Partners LLC raised its holdings 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 worth $49,000 after purchasing an additional 1,103 shares in the last quarter. Finally, KBC Group NV bought a new position in shares of Calix in the 4th quarter worth about $50,000. Hedge funds and other institutional investors own 98.14% of the company’s stock.

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.