JPMorgan Chase & Co. Boosts Calix (NYSE:CALX) Price Target to $45.00

Calix (NYSE:CALX) had its price objective boosted by JPMorgan Chase & Co. from $38.00 to $45.00 in a research note published on Friday morning,Benzinga reports. They currently have a neutral rating on the communications equipment provider’s stock.

CALX has been the topic of several other research reports. Needham & Company LLC restated a “buy” rating and set a $45.00 price objective on shares of Calix in a research note on Thursday. StockNews.com upgraded Calix from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $45.00 price objective on shares of Calix in a report on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $43.17.

Calix Stock Down 1.0 %

NYSE:CALX opened at $39.77 on Friday. The stock’s fifty day moving average is $35.78 and its two-hundred day moving average is $36.29. Calix has a 52 week low of $26.76 and a 52 week high of $41.97. The company has a market capitalization of $2.64 billion, a P/E ratio of -88.38 and a beta of 1.68.

Calix (NYSE:CALX) last issued its quarterly earnings data on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.31). Calix had a negative return on equity of 3.46% and a negative net margin of 3.58%. Sell-side analysts anticipate that Calix will post -0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CALX. Congress Asset Management Co. lifted its stake in Calix by 30.1% in the 3rd quarter. Congress Asset Management Co. now owns 1,565,471 shares of the communications equipment provider’s stock valued at $60,725,000 after purchasing an additional 361,805 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Calix by 200.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 344,514 shares of the communications equipment provider’s stock worth $13,364,000 after purchasing an additional 229,871 shares during the period. Rockefeller Capital Management L.P. increased its position in shares of Calix by 34.8% during the third quarter. Rockefeller Capital Management L.P. now owns 410,463 shares of the communications equipment provider’s stock worth $15,921,000 after acquiring an additional 105,969 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of Calix during the third quarter worth about $3,513,000. Finally, Millennium Management LLC increased its position in shares of Calix by 75.6% during the second quarter. Millennium Management LLC now owns 179,801 shares of the communications equipment provider’s stock worth $6,370,000 after acquiring an additional 77,387 shares in the last quarter. 98.14% of the stock is currently owned by institutional investors and hedge funds.

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.