49,526 Shares in Harmonic Inc. (NASDAQ:HLIT) Bought by Quantbot Technologies LP

Quantbot Technologies LP purchased a new position in Harmonic Inc. (NASDAQ:HLITFree Report) during the third quarter, HoldingsChannel reports. The firm purchased 49,526 shares of the communications equipment provider’s stock, valued at approximately $477,000.

A number of other hedge funds also recently bought and sold shares of the company. BlackRock Inc. raised its position in Harmonic by 3.6% in the 2nd quarter. BlackRock Inc. now owns 17,297,705 shares of the communications equipment provider’s stock worth $279,704,000 after buying an additional 603,429 shares during the last quarter. Vanguard Group Inc. raised its position in Harmonic by 5.5% in the 3rd quarter. Vanguard Group Inc. now owns 7,459,977 shares of the communications equipment provider’s stock worth $97,501,000 after buying an additional 389,000 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Harmonic by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,768,594 shares of the communications equipment provider’s stock worth $44,300,000 after buying an additional 51,817 shares during the last quarter. Finally, State Street Corp raised its position in Harmonic by 6.4% in the 2nd quarter. State Street Corp now owns 3,807,896 shares of the communications equipment provider’s stock worth $61,574,000 after buying an additional 229,513 shares during the last quarter. Institutional investors own 99.38% of the company’s stock.

Harmonic Trading Down 1.3 %

Harmonic stock opened at $12.94 on Thursday. The firm has a 50 day moving average of $11.84 and a 200 day moving average of $11.04. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 18.23 and a beta of 0.82. Harmonic Inc. has a 12-month low of $8.80 and a 12-month high of $18.43. The company has a current ratio of 1.21, a quick ratio of 0.91 and a debt-to-equity ratio of 0.02.

Harmonic (NASDAQ:HLITGet Free Report) last released its earnings results on Monday, January 29th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.03. Harmonic had a net margin of 13.82% and a return on equity of 4.71%. The company had revenue of $167.10 million during the quarter, compared to analyst estimates of $158.98 million. During the same period in the prior year, the firm posted $0.12 EPS. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, research analysts predict that Harmonic Inc. will post 0.35 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HLIT. Raymond James decreased their target price on Harmonic from $19.00 to $18.00 and set a “strong-buy” rating for the company in a research report on Tuesday, January 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price target on shares of Harmonic in a research report on Wednesday, December 20th. Barclays reduced their price target on shares of Harmonic from $20.00 to $14.00 and set an “overweight” rating for the company in a research report on Wednesday, November 1st. StockNews.com raised shares of Harmonic from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Finally, Rosenblatt Securities reduced their target price on shares of Harmonic from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, January 30th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $17.20.

View Our Latest Research Report on Harmonic

Harmonic Profile

(Free Report)

Harmonic Inc, together with its subsidiaries, provide video delivery software, products, system solutions, and services worldwide. The company operates in two segments, Video and Broadband. The Video segment sells video processing, production, and playout solutions and services to broadband operators, and satellite and telecommunications Pay-TV service providers, as well as to broadcast and media, including streaming media companies.

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Institutional Ownership by Quarter for Harmonic (NASDAQ:HLIT)

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