Congress Asset Management Co. Buys 361,805 Shares of Calix, Inc. (NYSE:CALX)

Congress Asset Management Co. increased its position in shares of Calix, Inc. (NYSE:CALX - Free Report) by 30.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,565,471 shares of the communications equipment provider's stock after purchasing an additional 361,805 shares during the period. Congress Asset Management Co. owned 2.39% of Calix worth $60,725,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Diversify Wealth Management LLC increased its holdings in Calix by 19.3% in the third quarter. Diversify Wealth Management LLC now owns 10,066 shares of the communications equipment provider's stock valued at $373,000 after buying an additional 1,628 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Calix in the 3rd quarter valued at $34,000. Everence Capital Management Inc. purchased a new stake in Calix during the 3rd quarter worth $311,000. Magnus Financial Group LLC acquired a new position in Calix during the 3rd quarter worth $211,000. Finally, Inspire Investing LLC boosted its holdings in shares of Calix by 7.8% in the 3rd quarter. Inspire Investing LLC now owns 10,635 shares of the communications equipment provider's stock valued at $413,000 after buying an additional 773 shares during the period. Institutional investors and hedge funds own 98.14% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Rosenblatt Securities restated a "buy" rating and set a $45.00 price target on shares of Calix in a research report on Thursday, October 3rd. JPMorgan Chase & Co. boosted their price objective 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 company a "buy" rating in a research note on Tuesday, July 23rd. 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 report on Wednesday, July 24th. Finally, StockNews.com raised shares of Calix from a "sell" rating to a "hold" rating in a report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $42.50.

Calix Stock Down 2.3 %

Shares of CALX stock traded down $0.85 during trading on Thursday, reaching $35.40. The company's stock had a trading volume of 583,201 shares, compared to its average volume of 732,746. The company has a market cap of $2.33 billion, a price-to-earnings ratio of -147.50 and a beta of 1.74. Calix, Inc. has a one year low of $26.76 and a one year high of $45.15. The business has a fifty day moving average price of $37.47 and a 200-day moving average price of $35.24.

Calix (NYSE:CALX - Get Free Report) last issued its earnings results on Monday, October 28th. The communications equipment provider reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.04. The business had revenue of $200.95 million for the quarter, compared to the consensus estimate of $201.06 million. Calix had a net margin of 0.52% and a return on equity of 4.17%. The firm's revenue for the quarter was down 23.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.25 earnings per share. Research analysts anticipate that Calix, Inc. will post -0.36 EPS for the current year.

Insider Buying and Selling

In other news, Director Carl Russo sold 25,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $37.56, for a total value of $939,000.00. Following the completion of the transaction, the director now owns 3,723,381 shares of the company's stock, valued at approximately $139,850,190.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.04% of the stock is currently owned by company insiders.

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.