Calix, Inc. (NYSE:CALX) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its stake in Calix, Inc. (NYSE:CALX) by 4.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 277,116 shares of the communications equipment provider’s stock after selling 12,204 shares during the period. Principal Financial Group Inc.’s holdings in Calix were worth $10,749,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Harbor Capital Advisors Inc. boosted its stake in Calix by 15.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 11,390 shares of the communications equipment provider’s stock worth $442,000 after purchasing an additional 1,483 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in Calix during the 3rd quarter worth $39,000. Farther Finance Advisors LLC boosted 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 purchasing an additional 522 shares during the period. US Bancorp DE boosted 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 purchasing an additional 4,536 shares during the period. Finally, Congress Asset Management Co. boosted 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 purchasing an additional 361,805 shares during the period. Institutional investors and hedge funds own 98.14% of the company’s stock.

Calix Price Performance

Calix stock opened at $29.31 on Monday. Calix, Inc. has a 12-month low of $26.76 and a 12-month high of $45.15. The stock has a market capitalization of $1.94 billion, a P/E ratio of -122.13 and a beta of 1.75. The firm’s 50-day moving average is $36.64 and its two-hundred day moving average is $35.68.

Calix (NYSE:CALX) last released its quarterly earnings results on Monday, October 28th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $201.06 million. During the same period last year, the company earned $0.25 EPS. The firm’s revenue for the quarter was down 23.8% compared to the same quarter last year. As a group, analysts forecast that Calix, Inc. will post -0.34 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CALX shares. JPMorgan Chase & Co. increased their price target 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. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price target on shares of Calix in a research note on Tuesday, October 29th. Rosenblatt Securities restated a “buy” rating and set a $45.00 price objective on shares of Calix in a research report on Thursday, October 3rd. Roth Mkm increased their price target on shares of Calix from $43.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, StockNews.com upgraded shares of Calix from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Calix has an average rating of “Moderate Buy” and a consensus target price of $42.50.

Calix 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.