Principal Financial Group Inc. Has $10.03 Million Stock Holdings in Calix, Inc. (NYSE:CALX)

Principal Financial Group Inc. increased its stake in shares of Calix, Inc. (NYSE:CALX) by 3.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 287,509 shares of the communications equipment provider’s stock after buying an additional 10,393 shares during the period. Principal Financial Group Inc.’s holdings in Calix were worth $10,025,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of CALX. DekaBank Deutsche Girozentrale bought a new stake in shares of Calix during the 3rd quarter worth about $34,000. Diversify Wealth Management LLC boosted its holdings in Calix by 19.3% in the 3rd quarter. Diversify Wealth Management LLC now owns 10,066 shares of the communications equipment provider’s stock valued at $373,000 after purchasing an additional 1,628 shares during the period. US Bancorp DE boosted its holdings in Calix by 399.3% in the 3rd quarter. US Bancorp DE now owns 5,672 shares of the communications equipment provider’s stock valued at $220,000 after purchasing an additional 4,536 shares during the period. Farther Finance Advisors LLC boosted its holdings in Calix by 42.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,763 shares of the communications equipment provider’s stock valued at $68,000 after purchasing an additional 522 shares during the period. Finally, Arcadia Investment Management Corp MI bought a new stake in Calix in the 3rd quarter valued at about $39,000. Institutional investors own 98.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CALX. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price objective on shares of Calix in a report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price objective on shares of Calix from $38.00 to $45.00 and gave the company a “neutral” rating in a report 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’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.17.

Insider Transactions at Calix

In related news, Director Carl Russo sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $38.15, for a total transaction of $953,750.00. Following the completion of the transaction, the director now directly owns 2,164,188 shares in the company, valued at $82,563,772.20. This represents a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 17.04% of the stock is currently owned by insiders.

Calix Trading Down 0.4 %

Shares of Calix stock opened at $36.97 on Friday. The company has a 50 day moving average of $38.06 and a 200-day moving average of $36.65. Calix, Inc. has a 1-year low of $26.76 and a 1-year high of $42.50. The company has a market cap of $2.45 billion, a PE ratio of -82.15 and a beta of 1.70.

Calix (NYSE:CALX) last issued its quarterly earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.31). Calix had a negative return on equity of 3.43% and a negative net margin of 3.58%. Research analysts forecast that Calix, Inc. will post -0.43 earnings per share for the current 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.