Mutual of America Capital Management LLC Sells 134,562 Shares of Harmonic Inc. (NASDAQ:HLIT)

Mutual of America Capital Management LLC lessened its position in shares of Harmonic Inc. (NASDAQ:HLIT - Free Report) by 32.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 275,237 shares of the communications equipment provider's stock after selling 134,562 shares during the quarter. Mutual of America Capital Management LLC owned about 0.24% of Harmonic worth $2,640,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in HLIT. Quarry LP purchased a new stake in shares of Harmonic during the fourth quarter worth $33,000. Russell Investments Group Ltd. increased its position 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 acquiring an additional 5,442 shares during the period. Cresset Asset Management LLC purchased a new stake in shares of Harmonic during the fourth quarter worth $133,000. Cibc World Markets Corp purchased a new stake in shares of Harmonic during the fourth quarter worth $137,000. Finally, PharVision Advisers LLC purchased a new stake in shares of Harmonic during the fourth quarter worth $138,000. Hedge funds and other institutional investors own 99.38% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on HLIT shares. Wolfe Research started coverage on shares of Harmonic in a research note on Tuesday, July 8th. They set an "underperform" rating for the company. Barclays reaffirmed an "underperform" rating on shares of Harmonic in a report on Tuesday, April 29th. Rosenblatt Securities reissued a "buy" rating and set a $11.00 price target on shares of Harmonic in a report on Tuesday, June 17th. Wall Street Zen cut shares of Harmonic from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Finally, Needham & Company LLC reissued a "buy" rating and set a $14.00 price target on shares of Harmonic in a report on Tuesday, April 29th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $12.33.

Harmonic Stock Down 1.0%

Shares of HLIT traded down $0.09 during midday trading on Friday, hitting $9.25. The company had a trading volume of 860,292 shares, compared to its average volume of 1,159,124. The company's 50 day moving average price is $9.31 and its 200 day moving average price is $9.99. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 20.56 and a beta of 1.05. Harmonic Inc. has a 52 week low of $7.91 and a 52 week 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.

Harmonic (NASDAQ:HLIT - Get Free Report) last posted its earnings results on Monday, April 28th. The communications equipment provider reported $0.11 EPS for the quarter, topping the consensus estimate of $0.05 by $0.06. Harmonic had a net margin of 7.72% and a return on equity of 18.28%. The firm had revenue of $133.14 million during the quarter, compared to analysts' expectations of $127.51 million. The business's revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities research analysts predict that Harmonic Inc. will post 0.31 EPS for the current year.

About Harmonic

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.