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

Calix (NYSE:CALX) had its target price cut by equities research analysts at JPMorgan Chase & Co. from $45.00 to $34.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the communications equipment provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 0.29% from the company’s previous close.

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 target price on shares of Calix in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $41.33.

Calix Stock Performance

Shares of NYSE:CALX opened at $33.90 on Thursday. The stock’s 50-day simple moving average is $35.57 and its two-hundred day simple moving average is $35.89. Calix has a 52-week low of $26.76 and a 52-week high of $42.50. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of -75.33 and a beta of 1.75.

Calix (NYSE:CALX) last announced its 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 3.43% and a negative net margin of 3.58%. As a group, equities analysts forecast that Calix will post -0.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Calix

In other Calix news, Director Carl Russo sold 25,000 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $38.15, for a total value of $953,750.00. Following the transaction, the director now owns 2,164,188 shares of the company’s stock, valued at $82,563,772.20. This represents a 1.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company 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 CALX. Assenagon Asset Management S.A. boosted its position in Calix by 8.8% during the first quarter. Assenagon Asset Management S.A. now owns 402,248 shares of the communications equipment provider’s stock valued at $14,256,000 after purchasing an additional 32,610 shares in the last quarter. SG Americas Securities LLC lifted its position in Calix by 159.6% during the first quarter. SG Americas Securities LLC now owns 29,128 shares of the communications equipment provider’s stock valued at $1,032,000 after acquiring an additional 17,907 shares during the last quarter. Portside Wealth Group LLC boosted its stake in Calix by 8.0% in the first quarter. Portside Wealth Group LLC now owns 8,414 shares of the communications equipment provider’s stock valued at $298,000 after acquiring an additional 621 shares in the last quarter. Congress Asset Management Co. lifted its holdings in shares of Calix by 8.1% during the 1st quarter. Congress Asset Management Co. now owns 1,378,497 shares of the communications equipment provider’s stock valued at $48,854,000 after purchasing an additional 103,175 shares during the last quarter. Finally, LVW Advisors LLC purchased a new position in Calix during the 1st quarter worth $226,000. Hedge funds and other institutional investors own 98.14% of the company’s stock.

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.