Congress Asset Management Co. Decreases Stake in Calix, Inc. (NYSE:CALX)

Congress Asset Management Co. reduced its holdings in Calix, Inc. (NYSE:CALX - Free Report) by 18.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,275,322 shares of the communications equipment provider's stock after selling 290,149 shares during the period. Congress Asset Management Co. owned approximately 1.92% of Calix worth $44,470,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. boosted its position in shares of Calix by 200.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 344,514 shares of the communications equipment provider's stock valued at $13,364,000 after acquiring an additional 229,871 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Calix by 34.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 410,463 shares of the communications equipment provider's stock valued at $15,921,000 after purchasing an additional 105,969 shares during the last quarter. HighTower Advisors LLC purchased a new stake in shares of Calix in the 3rd quarter valued at approximately $3,513,000. Needham Investment Management LLC increased its holdings in shares of Calix by 42.9% during the 3rd quarter. Needham Investment Management LLC now owns 250,000 shares of the communications equipment provider's stock worth $9,698,000 after buying an additional 75,000 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Calix by 184.0% during the 3rd quarter. Barclays PLC now owns 113,579 shares of the communications equipment provider's stock valued at $4,404,000 after buying an additional 73,588 shares during the period. 98.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on CALX. JPMorgan Chase & Co. raised their target price on Calix from $38.00 to $45.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Needham & Company LLC reiterated a "buy" rating and set a $45.00 price target on shares of Calix in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Calix currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.17.

Calix Stock Performance

Shares of NYSE CALX traded down $0.25 during trading on Thursday, reaching $39.69. The stock had a trading volume of 691,444 shares, compared to its average volume of 649,547. The company has a market cap of $2.63 billion, a P/E ratio of -88.20 and a beta of 1.70. Calix, Inc. has a fifty-two week low of $26.76 and a fifty-two week high of $42.50. The business's 50-day moving average price is $37.66 and its 200-day moving average price is $36.60.

Calix (NYSE:CALX - Get Free Report) last released its 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%. Analysts forecast that Calix, Inc. will post -0.43 EPS for the current fiscal year.

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.