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

Congress Asset Management Co. decreased its position in Calix, Inc. (NYSE:CALX) by 18.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,275,322 shares of the communications equipment provider’s stock after selling 290,149 shares during the quarter. Congress Asset Management Co.’s holdings in Calix were worth $44,470,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CALX. Jacobs Levy Equity Management Inc. increased its position in shares of Calix by 200.5% in the third 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 period. Rockefeller Capital Management L.P. increased its position in shares of Calix by 34.8% in the third quarter. Rockefeller Capital Management L.P. now owns 410,463 shares of the communications equipment provider’s stock valued at $15,921,000 after acquiring an additional 105,969 shares during the period. HighTower Advisors LLC purchased a new position in shares of Calix in the third quarter valued at about $3,513,000. Needham Investment Management LLC increased its position in shares of Calix by 42.9% during the third quarter. Needham Investment Management LLC now owns 250,000 shares of the communications equipment provider’s stock valued at $9,698,000 after buying an additional 75,000 shares during the period. Finally, Barclays PLC increased its position in shares of Calix by 184.0% during the third 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. Hedge funds and other institutional investors own 98.14% of the company’s stock.

Calix Price Performance

NYSE:CALX opened at $39.84 on Monday. Calix, Inc. has a one year low of $26.76 and a one year high of $42.50. The company’s 50-day simple moving average is $37.37 and its 200 day simple moving average is $36.55. The firm has a market capitalization of $2.64 billion, a P/E ratio of -88.53 and a beta of 1.70.

Calix (NYSE:CALX) last posted its quarterly earnings data on Wednesday, January 29th. The communications equipment provider reported ($0.24) 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%. On average, equities research analysts expect that Calix, Inc. will post -0.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on CALX. JPMorgan Chase & Co. boosted their price target on shares of Calix from $38.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price target on shares of Calix in a research report 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.17.

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.