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

Principal Financial Group Inc. reduced its stake in Calix, Inc. (NYSE:CALX) by 5.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 289,320 shares of the communications equipment provider’s stock after selling 16,249 shares during the quarter. Principal Financial Group Inc. owned approximately 0.44% of Calix worth $10,251,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. TFO Wealth Partners LLC raised its position in shares of Calix by 13,787.5% during the 4th quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock valued at $49,000 after buying an additional 1,103 shares during the period. Headlands Technologies LLC acquired a new stake in Calix during the first quarter worth $48,000. Quadrant Capital Group LLC raised its position in Calix by 18.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,232 shares of the communications equipment provider’s stock valued at $98,000 after purchasing an additional 348 shares during the period. Assetmark Inc. lifted its stake in shares of Calix by 41.5% in the 4th quarter. Assetmark Inc. now owns 2,233 shares of the communications equipment provider’s stock valued at $98,000 after purchasing an additional 655 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Calix by 13.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,520 shares of the communications equipment provider’s stock worth $89,000 after purchasing an additional 303 shares during the period. 98.14% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Calix

In other news, Director Carl Russo sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $37.56, for a total transaction of $939,000.00. Following the sale, the director now owns 3,723,381 shares of the company’s stock, valued at approximately $139,850,190.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 16.69% of the company’s stock.

Calix Stock Down 6.5 %

NYSE:CALX opened at $34.48 on Friday. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 111.23 and a beta of 1.74. The company has a fifty day simple moving average of $36.55 and a two-hundred day simple moving average of $34.20. Calix, Inc. has a 52 week low of $26.76 and a 52 week high of $47.93.

Calix (NYSE:CALX) last issued its quarterly earnings results on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The company had revenue of $198.14 million during the quarter, compared to the consensus estimate of $200.77 million. Calix had a net margin of 0.52% and a return on equity of 4.17%. The firm’s quarterly revenue was down 24.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.15 earnings per share. On average, analysts expect that Calix, Inc. will post -0.36 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CALX shares. Needham & Company LLC restated a “buy” rating and issued a $45.00 price objective on shares of Calix in a report on Tuesday, August 20th. Rosenblatt Securities boosted their price target on shares of Calix from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. StockNews.com upgraded Calix from a “sell” rating to a “hold” rating in a research note on Tuesday, August 20th. Craig Hallum lifted their price objective on Calix from $41.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Roth Mkm increased their target price on Calix from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

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.