JPMorgan Chase & Co. Issues Positive Forecast for Calix (NYSE:CALX) Stock Price

Calix (NYSE:CALX - Get Free Report) had its price objective hoisted by analysts at JPMorgan Chase & Co. from $38.00 to $45.00 in a report released on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the communications equipment provider's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 13.02% from the company's current price.

Other equities research analysts have also recently issued research reports about the company. Rosenblatt Securities reissued a "buy" rating and issued a $45.00 price target on shares of Calix in a research note on Thursday, October 3rd. StockNews.com upgraded shares of Calix from a "sell" rating to a "hold" rating in a research report on Tuesday, October 8th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $45.00 price objective on shares of Calix in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.17.

Calix Trading Down 0.9 %

NYSE:CALX traded down $0.37 during mid-day trading on Friday, hitting $39.82. 283,686 shares of the company's stock were exchanged, compared to its average volume of 574,022. Calix has a fifty-two week low of $26.76 and a fifty-two week high of $41.97. The firm has a market capitalization of $2.64 billion, a P/E ratio of -88.65 and a beta of 1.68. The company has a 50 day simple moving average of $35.65 and a 200-day simple moving average of $36.27.

Calix (NYSE:CALX - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.31). Calix had a negative return on equity of 3.46% and a negative net margin of 3.58%. As a group, analysts expect that Calix will post -0.34 earnings per share for the current year.

Hedge Funds Weigh In On Calix

Several institutional investors have recently made changes to their positions in the stock. Millennium Management LLC grew its stake in shares of Calix by 75.6% in the 2nd quarter. Millennium Management LLC now owns 179,801 shares of the communications equipment provider's stock valued at $6,370,000 after buying an additional 77,387 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Calix by 2.7% in the second quarter. The Manufacturers Life Insurance Company now owns 32,959 shares of the communications equipment provider's stock worth $1,168,000 after acquiring an additional 857 shares in the last quarter. Mackenzie Financial Corp acquired a new stake in Calix in the second quarter valued at approximately $248,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Calix during the second quarter valued at approximately $430,000. Finally, Creative Planning acquired a new stake in Calix in the 2nd quarter valued at $513,000. 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.

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