Calix (NYSE:CALX) Price Target Cut to $34.00 by Analysts at JPMorgan Chase & Co.

Calix (NYSE:CALX) had its target price lowered by JPMorgan Chase & Co. from $45.00 to $34.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the communications equipment provider’s stock.

Separately, Needham & Company LLC restated a “buy” rating and set a $45.00 price target on shares of Calix in a research report on Thursday, January 30th. 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.33.

Calix Stock Performance

NYSE:CALX opened at $33.80 on Thursday. The business’s fifty day moving average is $35.41 and its 200 day moving average is $35.86. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -75.12 and a beta of 1.75. Calix has a 52-week low of $26.76 and a 52-week high of $42.50.

Calix (NYSE:CALX) last announced its quarterly earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.31). Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. Equities analysts predict that Calix will post -0.43 EPS for the current fiscal year.

Insider Transactions at Calix

In other news, Director Carl Russo sold 25,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $38.15, for a total value of $953,750.00. Following the completion of the transaction, the director now directly owns 2,164,188 shares in the company, valued at approximately $82,563,772.20. This represents a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 16.69% of the company’s stock.

Institutional Trading of Calix

A number of hedge funds have recently bought and sold shares of the company. FMR LLC raised its stake in shares of Calix by 49.0% during the third quarter. FMR LLC now owns 2,398 shares of the communications equipment provider’s stock worth $93,000 after acquiring an additional 789 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of Calix by 113.2% during the 3rd quarter. Stifel Financial Corp now owns 17,588 shares of the communications equipment provider’s stock valued at $682,000 after purchasing an additional 9,339 shares during the last quarter. Barclays PLC raised its position in Calix by 184.0% in the 3rd quarter. Barclays PLC now owns 113,579 shares of the communications equipment provider’s stock worth $4,404,000 after purchasing an additional 73,588 shares during the period. Geode Capital Management LLC lifted its stake in Calix by 1.1% in the third quarter. Geode Capital Management LLC now owns 1,331,565 shares of the communications equipment provider’s stock worth $51,661,000 after purchasing an additional 14,725 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Calix by 46.2% during the third quarter. JPMorgan Chase & Co. now owns 127,570 shares of the communications equipment provider’s stock valued at $4,948,000 after buying an additional 40,306 shares during the period. Institutional investors 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.