Allspring Global Investments Holdings LLC Sells 58,951 Shares of Calix, Inc. (NYSE:CALX)

Allspring Global Investments Holdings LLC reduced its stake in Calix, Inc. (NYSE:CALX - Free Report) by 19.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 239,865 shares of the communications equipment provider's stock after selling 58,951 shares during the period. Allspring Global Investments Holdings LLC owned 0.36% of Calix worth $10,480,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Artemis Investment Management LLP bought a new position in shares of Calix in the 4th quarter worth $18,165,000. Pacer Advisors Inc. lifted its holdings in Calix by 74.7% during the fourth quarter. Pacer Advisors Inc. now owns 9,091 shares of the communications equipment provider's stock worth $397,000 after acquiring an additional 3,886 shares in the last quarter. Handelsinvest Investeringsforvaltning bought a new position in Calix during the fourth quarter worth about $142,000. Dfpg Investments LLC bought a new position in Calix during the fourth quarter worth about $260,000. Finally, Harbour Capital Advisors LLC bought a new position in Calix during the fourth quarter worth about $304,000. 98.14% of the stock is currently owned by institutional investors.

Calix Price Performance

Shares of CALX traded down $0.19 during midday trading on Wednesday, hitting $29.18. The stock had a trading volume of 650,737 shares, compared to its average volume of 988,495. The company has a 50 day simple moving average of $33.58 and a two-hundred day simple moving average of $37.98. Calix, Inc. has a twelve month low of $29.08 and a twelve month high of $53.90. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 64.84 and a beta of 1.65.

Calix (NYSE:CALX - Get Free Report) last released its quarterly earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.07. Calix had a return on equity of 7.92% and a net margin of 3.06%. The firm had revenue of $264.73 million for the quarter, compared to the consensus estimate of $264.41 million. During the same quarter last year, the business posted $0.18 EPS. The company's revenue for the quarter was up 8.3% on a year-over-year basis. Analysts forecast that Calix, Inc. will post 0.45 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Rosenblatt Securities reduced their target price on Calix from $57.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, January 30th. StockNews.com upgraded Calix from a "sell" rating to a "hold" rating in a report on Wednesday, February 28th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $50.00 target price on shares of Calix in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $54.60.

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.