Congress Asset Management Co. Has $48.85 Million Holdings in Calix, Inc. (NYSE:CALX)

Congress Asset Management Co. lifted its position in shares of Calix, Inc. (NYSE:CALX - Free Report) by 8.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,378,497 shares of the communications equipment provider's stock after acquiring an additional 103,175 shares during the period. Congress Asset Management Co. owned approximately 2.07% of Calix worth $48,854,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC raised its stake in Calix by 184.0% during the third quarter. Barclays PLC now owns 113,579 shares of the communications equipment provider's stock worth $4,404,000 after acquiring an additional 73,588 shares in the last quarter. KBC Group NV increased its position in Calix by 57.8% during the 4th quarter. KBC Group NV now owns 2,772 shares of the communications equipment provider's stock worth $97,000 after purchasing an additional 1,015 shares in the last quarter. Thompson Investment Management Inc. lifted its stake in Calix by 4.6% in the 4th quarter. Thompson Investment Management Inc. now owns 90,940 shares of the communications equipment provider's stock valued at $3,171,000 after purchasing an additional 4,000 shares during the last quarter. Rhumbline Advisers lifted its stake in Calix by 1.3% in the 4th quarter. Rhumbline Advisers now owns 168,531 shares of the communications equipment provider's stock valued at $5,877,000 after purchasing an additional 2,238 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Calix by 3.8% in the fourth quarter. Principal Financial Group Inc. now owns 287,509 shares of the communications equipment provider's stock valued at $10,025,000 after buying an additional 10,393 shares in the last quarter. Institutional investors own 98.14% of the company's stock.

Calix Price Performance

Shares of CALX traded up $0.15 during trading hours on Monday, hitting $48.22. 497,019 shares of the stock were exchanged, compared to its average volume of 687,751. The firm has a market capitalization of $3.13 billion, a P/E ratio of -107.16 and a beta of 1.35. Calix, Inc. has a fifty-two week low of $28.61 and a fifty-two week high of $48.61. The business has a 50-day moving average of $40.65 and a 200-day moving average of $37.80.

Calix (NYSE:CALX - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The communications equipment provider reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.06. Calix had a negative return on equity of 3.43% and a negative net margin of 3.58%. The firm had revenue of $220.20 million during the quarter, compared to analyst estimates of $206.98 million. During the same period last year, the company posted $0.21 EPS. As a group, analysts forecast that Calix, Inc. will post -0.43 earnings per share for the current fiscal year.

Calix announced that its Board of Directors has approved a share buyback plan on Monday, April 21st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the communications equipment provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other Calix news, Director Carl Russo sold 25,000 shares of the stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $39.59, for a total value of $989,750.00. Following the transaction, the director now owns 2,139,188 shares in the company, valued at approximately $84,690,452.92. This represents a 1.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 16.90% of the company's stock.

Analysts Set New Price Targets

CALX has been the subject of several research analyst reports. Rosenblatt Securities upped their price target on shares of Calix from $51.00 to $52.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. UBS Group reaffirmed a "buy" rating on shares of Calix in a report on Tuesday, April 22nd. Needham & Company LLC reissued a "buy" rating and set a $53.00 price target on shares of Calix in a research note on Tuesday, April 22nd. Roth Capital set a $50.00 price objective on shares of Calix and gave the company a "buy" rating in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Calix from $34.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.83.

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.