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

Principal Financial Group Inc. increased its stake in shares of Calix, Inc. (NYSE:CALX - Free Report) by 3.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 287,509 shares of the communications equipment provider's stock after buying an additional 10,393 shares during the quarter. Principal Financial Group Inc. owned about 0.43% of Calix worth $10,025,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CALX. Rhumbline Advisers lifted its holdings in shares of Calix by 1.3% during the 4th quarter. Rhumbline Advisers now owns 168,531 shares of the communications equipment provider's stock worth $5,877,000 after acquiring an additional 2,238 shares during the period. Thompson Investment Management Inc. lifted its stake in Calix by 4.6% during the fourth quarter. Thompson Investment Management Inc. now owns 90,940 shares of the communications equipment provider's stock worth $3,171,000 after purchasing an additional 4,000 shares during the last quarter. Yorktown Management & Research Co Inc acquired a new stake in shares of Calix in the 4th quarter valued at $314,000. Pacer Advisors Inc. increased its stake in shares of Calix by 29.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider's stock valued at $54,000 after purchasing an additional 358 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of Calix by 57.8% in the 4th quarter. KBC Group NV now owns 2,772 shares of the communications equipment provider's stock valued at $97,000 after purchasing an additional 1,015 shares during the last quarter. Institutional investors own 98.14% of the company's stock.

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Insider Buying and Selling

In related news, Director Carl Russo sold 25,000 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $38.15, for a total value of $953,750.00. Following the transaction, the director now owns 2,164,188 shares of the company's stock, valued at approximately $82,563,772.20. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.69% of the stock is owned by company insiders.

Calix Stock Performance

Shares of Calix stock traded down $0.61 on Tuesday, hitting $35.28. The stock had a trading volume of 231,951 shares, compared to its average volume of 678,664. The stock has a 50 day moving average of $38.08 and a 200 day moving average of $36.63. The firm has a market capitalization of $2.35 billion, a P/E ratio of -78.41 and a beta of 1.70. Calix, Inc. has a twelve month low of $26.76 and a twelve month high of $42.50.

Calix (NYSE:CALX - Get Free Report) last announced its quarterly earnings results 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 net margin of 3.58% and a negative return on equity of 3.43%. Equities analysts expect that Calix, Inc. will post -0.43 earnings per share for the current year.

Wall Street Analyst Weigh In

CALX has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $45.00 price objective on shares of Calix in a research note on Thursday, January 30th. JPMorgan Chase & Co. raised their price target on shares of Calix from $38.00 to $45.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $43.17.

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.