Principal Financial Group Inc. Trims Holdings in Calix, Inc. (NYSE:CALX)

Principal Financial Group Inc. trimmed its stake in Calix, Inc. (NYSE:CALX) by 4.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 277,116 shares of the communications equipment provider’s stock after selling 12,204 shares during the period. Principal Financial Group Inc. owned about 0.42% of Calix worth $10,749,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Harbor Capital Advisors Inc. raised its stake in shares of Calix by 15.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 11,390 shares of the communications equipment provider’s stock valued at $442,000 after acquiring an additional 1,483 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in Calix during the 3rd quarter worth approximately $39,000. Farther Finance Advisors LLC increased its stake in Calix by 42.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,763 shares of the communications equipment provider’s stock worth $68,000 after buying an additional 522 shares during the period. US Bancorp DE increased its stake in Calix by 399.3% during the 3rd quarter. US Bancorp DE now owns 5,672 shares of the communications equipment provider’s stock worth $220,000 after buying an additional 4,536 shares during the period. Finally, Congress Asset Management Co. increased its stake in Calix by 30.1% during the 3rd quarter. Congress Asset Management Co. now owns 1,565,471 shares of the communications equipment provider’s stock worth $60,725,000 after buying an additional 361,805 shares during the period. 98.14% of the stock is owned by hedge funds and other institutional investors.

Calix Trading Down 2.7 %

Shares of NYSE:CALX opened at $29.31 on Monday. Calix, Inc. has a 52 week low of $26.76 and a 52 week high of $45.15. The company’s 50 day moving average is $36.64 and its two-hundred day moving average is $35.68. The company has a market cap of $1.94 billion, a PE ratio of -122.13 and a beta of 1.75.

Calix (NYSE:CALX) last announced its quarterly earnings data on Monday, October 28th. The communications equipment provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. Calix had a negative net margin of 1.79% and a positive return on equity of 1.33%. The company had revenue of $200.95 million for the quarter, compared to the consensus estimate of $201.06 million. During the same period in the prior year, the firm posted $0.25 EPS. The company’s quarterly revenue was down 23.8% compared to the same quarter last year. As a group, equities research analysts expect that Calix, Inc. will post -0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CALX shares. JPMorgan Chase & Co. upped their target price on shares of Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Roth Mkm upped their target price on shares of Calix from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $45.00 target price on shares of Calix in a research note on Thursday, October 3rd. Craig Hallum upped their target price on shares of Calix from $41.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 target price on shares of Calix in a research note on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

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.