Congress Wealth Management LLC DE Cuts Stock Holdings in Calix, Inc. (NYSE:CALX)

Congress Wealth Management LLC DE reduced its position in Calix, Inc. (NYSE:CALX - Free Report) by 39.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 150,617 shares of the communications equipment provider's stock after selling 96,213 shares during the quarter. Congress Wealth Management LLC DE owned about 0.23% of Calix worth $5,252,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Calix by 5.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 129,608 shares of the communications equipment provider's stock valued at $5,027,000 after buying an additional 6,984 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of Calix by 30.5% during the 4th quarter. HighTower Advisors LLC now owns 118,245 shares of the communications equipment provider's stock worth $4,123,000 after purchasing an additional 27,622 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Calix by 3.8% during the 4th quarter. Principal Financial Group Inc. now owns 287,509 shares of the communications equipment provider's stock worth $10,025,000 after purchasing an additional 10,393 shares during the period. TradeLink Capital LLC purchased a new position in shares of Calix in the 4th quarter valued at about $299,000. Finally, Amundi purchased a new position in shares of Calix in the 4th quarter valued at about $330,000. Institutional investors and hedge funds own 98.14% of the company's stock.

Insider Activity

In other Calix news, Director Carl Russo sold 25,000 shares of the business'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 completion of the transaction, the director now directly owns 2,164,188 shares in the company, valued at approximately $82,563,772.20. The trade was a 1.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 16.69% of the company's stock.

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Analyst Upgrades and Downgrades

CALX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Calix from $38.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Needham & Company LLC reissued a "buy" rating and set a $45.00 price target on shares of Calix in a research note on Thursday, January 30th. 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 stock has a consensus rating of "Moderate Buy" and a consensus price target of $43.17.

Calix Price Performance

CALX traded down $0.83 during midday trading on Friday, reaching $35.07. 609,415 shares of the company's stock were exchanged, compared to its average volume of 665,373. Calix, Inc. has a 1-year low of $26.76 and a 1-year high of $42.50. The stock has a market capitalization of $2.34 billion, a PE ratio of -77.93 and a beta of 1.78. The business's 50-day moving average price is $37.30 and its 200 day moving average price is $36.30.

Calix (NYSE:CALX - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate 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, analysts expect that Calix, Inc. will post -0.43 EPS for the current fiscal year.

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.