Harmonic Inc. (NASDAQ:HLIT) Holdings Boosted by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its holdings in shares of Harmonic Inc. (NASDAQ:HLIT - Free Report) by 33.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 348,382 shares of the communications equipment provider's stock after buying an additional 86,390 shares during the period. Assenagon Asset Management S.A. owned about 0.30% of Harmonic worth $3,341,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Millennium Management LLC raised its holdings in shares of Harmonic by 9,004.4% during the 4th quarter. Millennium Management LLC now owns 4,719,837 shares of the communications equipment provider's stock valued at $62,443,000 after buying an additional 4,667,996 shares during the period. Invesco Ltd. grew its position in Harmonic by 20.0% in the fourth quarter. Invesco Ltd. now owns 7,788,714 shares of the communications equipment provider's stock valued at $103,045,000 after acquiring an additional 1,300,128 shares in the last quarter. Tudor Investment Corp ET AL lifted its position in shares of Harmonic by 198.2% during the fourth quarter. Tudor Investment Corp ET AL now owns 797,176 shares of the communications equipment provider's stock worth $10,547,000 after purchasing an additional 529,833 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Harmonic by 175.9% during the fourth quarter. JPMorgan Chase & Co. now owns 681,425 shares of the communications equipment provider's stock worth $9,015,000 after purchasing an additional 434,481 shares in the last quarter. Finally, Algert Global LLC boosted its stake in shares of Harmonic by 1,583.7% in the fourth quarter. Algert Global LLC now owns 435,852 shares of the communications equipment provider's stock valued at $5,766,000 after purchasing an additional 409,966 shares during the period. 99.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HLIT has been the topic of several analyst reports. Barclays reaffirmed an "underperform" rating on shares of Harmonic in a research note on Tuesday, April 29th. Needham & Company LLC reaffirmed a "buy" rating and set a $14.00 target price on shares of Harmonic in a research report on Tuesday, April 29th. Wall Street Zen upgraded Harmonic from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 6th. Jefferies Financial Group began coverage on Harmonic in a research note on Friday, February 21st. They set a "hold" rating for the company. Finally, Rosenblatt Securities restated a "buy" rating and set a $11.00 price objective on shares of Harmonic in a report on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $12.33.

Harmonic Stock Down 2.5%

Shares of Harmonic stock traded down $0.22 during trading on Tuesday, reaching $8.69. The company had a trading volume of 779,711 shares, compared to its average volume of 1,135,743. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.69 and a current ratio of 2.06. Harmonic Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $15.46. The firm's fifty day moving average is $9.15 and its 200-day moving average is $10.62. The company has a market cap of $982.84 million, a price-to-earnings ratio of 12.91 and a beta of 1.04.

Harmonic (NASDAQ:HLIT - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.06. The firm had revenue of $133.14 million for the quarter, compared to analysts' expectations of $127.51 million. Harmonic had a return on equity of 18.28% and a net margin of 7.72%. The company's revenue was up 9.1% compared to the same quarter last year. On average, analysts anticipate that Harmonic Inc. will post 0.31 EPS for the current year.

Harmonic Company Profile

Harmonic Inc, together with its subsidiaries, provides broadband solutions worldwide. The company operates through Broadband and Video segments. The Broadband segment sells broadband access solutions and related services, including cOS software-based broadband access solutions to broadband operators; and cOS central cloud services, a subscription service for cOS customers.