Y Intercept Hong Kong Ltd grew its stake in Harmonic Inc. (NASDAQ:HLIT - Free Report) by 111.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 107,491 shares of the communications equipment provider's stock after purchasing an additional 56,744 shares during the period. Y Intercept Hong Kong Ltd owned approximately 0.09% of Harmonic worth $1,031,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of HLIT. Barclays PLC increased its holdings in Harmonic by 0.7% during the 4th quarter. Barclays PLC now owns 203,300 shares of the communications equipment provider's stock worth $2,690,000 after purchasing an additional 1,324 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Harmonic by 4.2% in the 1st quarter. Arizona State Retirement System now owns 33,392 shares of the communications equipment provider's stock valued at $320,000 after acquiring an additional 1,344 shares in the last quarter. Bouvel Investment Partners LLC grew its holdings in shares of Harmonic by 1.8% in the 1st quarter. Bouvel Investment Partners LLC now owns 120,524 shares of the communications equipment provider's stock valued at $1,156,000 after acquiring an additional 2,079 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Harmonic by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,811 shares of the communications equipment provider's stock valued at $831,000 after acquiring an additional 2,146 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Harmonic in the 4th quarter valued at about $33,000. 99.38% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the company. Barclays restated an "underperform" rating on shares of Harmonic in a report on Tuesday, April 29th. Wall Street Zen cut Harmonic from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Needham & Company LLC reiterated a "buy" rating and issued a $14.00 price target on shares of Harmonic in a research report on Tuesday, April 29th. Wolfe Research started coverage on shares of Harmonic in a research report on Tuesday, July 8th. They set an "underperform" rating for the company. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $11.00 target price on shares of Harmonic in a research note on Tuesday, June 17th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Harmonic currently has an average rating of "Hold" and an average target price of $12.33.
Check Out Our Latest Report on HLIT
Harmonic Stock Up 1.2%
Shares of HLIT stock traded up $0.11 on Friday, reaching $9.00. 951,201 shares of the company were exchanged, compared to its average volume of 1,326,344. 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 company has a 50-day moving average of $9.25 and a 200-day moving average of $9.85. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.06 and a quick ratio of 1.69. Harmonic Inc. has a one year low of $7.91 and a one year high of $15.46.
Harmonic (NASDAQ:HLIT - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.06. The company had revenue of $133.14 million for the quarter, compared to analysts' expectations of $127.51 million. Harmonic had a net margin of 7.72% and a return on equity of 18.28%. The business's revenue for the quarter was up 9.1% compared to the same quarter last year. Analysts anticipate that Harmonic Inc. will post 0.31 earnings per share for the current year.
Harmonic Profile
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Free Report)
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.
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