Calix, Inc. (NYSE:CALX - Get Free Report) shares were down 5.5% during trading on Tuesday . The company traded as low as $37.17 and last traded at $37.30. Approximately 213,290 shares changed hands during trading, a decline of 71% from the average daily volume of 729,470 shares. The stock had previously closed at $39.47.
Analysts Set New Price Targets
A number of research analysts have issued reports on CALX shares. Roth Mkm boosted their price target on Calix from $43.00 to $44.00 and gave the stock a "buy" rating in a research report on Tuesday, July 23rd. StockNews.com upgraded Calix from a "sell" rating to a "hold" rating in a research report on Tuesday, October 8th. Craig Hallum boosted their price target on Calix from $41.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price target on Calix from $28.00 to $41.00 and gave the stock a "neutral" rating in a research report on Monday, July 22nd. Finally, Needham & Company LLC reiterated a "buy" rating and set a $45.00 price target on shares of Calix in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $42.50.
Read Our Latest Stock Report on CALX
Calix Price Performance
The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -157.25 and a beta of 1.74. The company has a fifty day moving average price of $37.51 and a two-hundred day moving average price of $35.18.
Calix (NYSE:CALX - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The communications equipment provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.04. The business had revenue of $200.95 million during the quarter, compared to analyst estimates of $201.06 million. Calix had a return on equity of 4.17% and a net margin of 0.52%. The company's revenue was down 23.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 earnings per share. On average, research analysts expect that Calix, Inc. will post -0.36 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Carl Russo sold 25,000 shares of the company's stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $37.56, for a total transaction of $939,000.00. Following the completion of the sale, the director now directly owns 3,723,381 shares of the company's stock, valued at $139,850,190.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 17.04% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Calix
Institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP acquired a new stake in Calix during the 1st quarter worth about $1,145,000. Epoch Investment Partners Inc. raised its stake in shares of Calix by 23.3% during the 1st quarter. Epoch Investment Partners Inc. now owns 1,164,049 shares of the communications equipment provider's stock worth $38,600,000 after purchasing an additional 219,699 shares in the last quarter. Koshinski Asset Management Inc. purchased a new stake in shares of Calix during the 1st quarter worth about $669,000. FORA Capital LLC purchased a new stake in shares of Calix during the 1st quarter worth about $724,000. Finally, Vanguard Group Inc. raised its stake in shares of Calix by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 7,323,628 shares of the communications equipment provider's stock worth $242,852,000 after purchasing an additional 900,713 shares in the last quarter. 98.14% of the stock is currently owned by institutional investors and hedge funds.
About Calix
(
Get Free Report)
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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