Legato Capital Management LLC Has $876,000 Position in Harmonic Inc. (NASDAQ:HLIT)

Legato Capital Management LLC boosted its position in Harmonic Inc. (NASDAQ:HLIT - Free Report) by 51.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,393 shares of the communications equipment provider's stock after purchasing an additional 31,106 shares during the period. Legato Capital Management LLC owned about 0.08% of Harmonic worth $876,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its holdings in shares of Harmonic by 5,388.1% during the fourth quarter. Russell Investments Group Ltd. now owns 5,543 shares of the communications equipment provider's stock worth $73,000 after purchasing an additional 5,442 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Harmonic during the fourth quarter worth $4,292,000. Principal Financial Group Inc. boosted its holdings in shares of Harmonic by 2.8% during the first quarter. Principal Financial Group Inc. now owns 583,943 shares of the communications equipment provider's stock worth $5,600,000 after purchasing an additional 15,756 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Harmonic by 415.7% in the first quarter. GAMMA Investing LLC now owns 8,612 shares of the communications equipment provider's stock valued at $898,000 after acquiring an additional 6,942 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Harmonic by 13.3% in the fourth quarter. Northern Trust Corp now owns 1,252,837 shares of the communications equipment provider's stock valued at $16,575,000 after acquiring an additional 147,274 shares during the last quarter. 99.38% of the stock is owned by hedge funds and other institutional investors.

Harmonic Stock Up 1.2%

Shares of HLIT traded up $0.11 during mid-day trading on Friday, reaching $9.00. The company's stock had a trading volume of 951,201 shares, compared to its average volume of 1,326,344. Harmonic Inc. has a 1 year low of $7.91 and a 1 year high of $15.46. The company has a quick ratio of 1.69, a current ratio of 2.06 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 20.00 and a beta of 1.05. The business has a fifty day moving average of $9.25 and a 200 day moving average of $9.85.

Harmonic (NASDAQ:HLIT - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The communications equipment provider reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.06. The business had revenue of $133.14 million for the quarter, compared to the consensus estimate of $127.51 million. Harmonic had a net margin of 7.72% and a return on equity of 18.28%. The firm's revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, analysts forecast that Harmonic Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on HLIT. Barclays reissued an "underperform" rating on shares of Harmonic in a research report on Tuesday, April 29th. Wolfe Research initiated coverage on Harmonic in a report on Tuesday, July 8th. They issued an "underperform" rating for the company. Rosenblatt Securities reissued a "buy" rating and issued a $11.00 price objective on shares of Harmonic in a report on Tuesday, June 17th. Wall Street Zen downgraded Harmonic from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Finally, Needham & Company LLC restated a "buy" rating and issued a $14.00 target price on shares of Harmonic in a research report on Tuesday, April 29th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Harmonic has an average rating of "Hold" and a consensus price target of $12.33.

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.