Zacks Investment Research Lowers Calix (CALX) to Hold

Zacks Investment Research cut shares of Calix (NYSE:CALX) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

According to Zacks, “Calix is a global leader in access innovation. Its Unified Access portfolio of broadband communications access systems and software enables communications service providers worldwide to transform their networks and become the broadband provider of choice to their subscribers. “

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Several other equities analysts have also commented on CALX. ValuEngine raised shares of Calix from a sell rating to a hold rating in a report on Monday, April 2nd. Drexel Hamilton reissued a buy rating and issued a $8.50 target price on shares of Calix in a report on Wednesday, March 21st. Finally, Northland Securities raised shares of Calix from a market perform rating to an outperform rating in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $7.25.

CALX stock opened at $6.65 on Tuesday. Calix has a 12 month low of $4.65 and a 12 month high of $7.38.

Calix (NYSE:CALX) last released its earnings results on Tuesday, February 13th. The communications equipment provider reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Calix had a negative net margin of 16.27% and a negative return on equity of 48.53%. The firm had revenue of $137.90 million during the quarter, compared to the consensus estimate of $142.34 million. research analysts expect that Calix will post -0.2 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Calix by 11.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 37,558 shares of the communications equipment provider’s stock valued at $257,000 after purchasing an additional 3,961 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Calix by 6.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 171,087 shares of the communications equipment provider’s stock valued at $864,000 after purchasing an additional 10,149 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Calix by 61.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 45,365 shares of the communications equipment provider’s stock valued at $270,000 after purchasing an additional 17,225 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Calix by 61.6% in the 3rd quarter. Wells Fargo & Company MN now owns 45,349 shares of the communications equipment provider’s stock valued at $229,000 after purchasing an additional 17,295 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Calix by 11.3% in the 4th quarter. California Public Employees Retirement System now owns 206,180 shares of the communications equipment provider’s stock valued at $1,227,000 after purchasing an additional 20,945 shares in the last quarter. Institutional investors own 64.85% of the company’s stock.

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Calix Company Profile

Calix, Inc, together with its subsidiaries, develops, markets, and sells software platforms, systems, and software for fiber- and copper-based network architectures that enable communications service providers (CSPs) to access networks. Its portfolio consists of E-Series access systems and nodes, B-Series access nodes, C-Series multiservice access system, and P-Series optical network terminals and residential gateways.

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