Mutual of America Capital Management LLC Grows Position in Harmonic Inc. (NASDAQ:HLIT)

Mutual of America Capital Management LLC grew its position in Harmonic Inc. (NASDAQ:HLIT - Free Report) by 48.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 373,437 shares of the communications equipment provider's stock after purchasing an additional 121,937 shares during the period. Mutual of America Capital Management LLC owned about 0.33% of Harmonic worth $4,870,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of HLIT. Thrivent Financial for Lutherans increased its position in shares of Harmonic by 0.7% during the first quarter. Thrivent Financial for Lutherans now owns 108,884 shares of the communications equipment provider's stock worth $1,589,000 after acquiring an additional 733 shares in the last quarter. Sei Investments Co. grew its position in Harmonic by 5.1% in the second quarter. Sei Investments Co. now owns 25,432 shares of the communications equipment provider's stock valued at $238,000 after purchasing an additional 1,233 shares in the last quarter. Advisor Partners II LLC grew its position in Harmonic by 10.7% in the fourth quarter. Advisor Partners II LLC now owns 13,636 shares of the communications equipment provider's stock valued at $179,000 after purchasing an additional 1,317 shares in the last quarter. Pathstone Family Office LLC lifted its position in Harmonic by 11.9% during the 4th quarter. Pathstone Family Office LLC now owns 12,697 shares of the communications equipment provider's stock worth $166,000 after buying an additional 1,347 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in shares of Harmonic by 0.7% during the 1st quarter. Public Sector Pension Investment Board now owns 193,238 shares of the communications equipment provider's stock worth $2,819,000 after buying an additional 1,421 shares during the last quarter. 99.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Harmonic

In related news, SVP Neven Haltmayer sold 14,747 shares of the business's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $13.68, for a total value of $201,738.96. Following the completion of the transaction, the senior vice president now owns 156,559 shares of the company's stock, valued at $2,141,727.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Nimrod Ben-Natan sold 100,000 shares of the business's stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $12.91, for a total value of $1,291,000.00. Following the completion of the transaction, the senior vice president now owns 302,214 shares of the company's stock, valued at $3,901,582.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Neven Haltmayer sold 14,747 shares of the business's stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $13.68, for a total value of $201,738.96. Following the completion of the transaction, the senior vice president now directly owns 156,559 shares of the company's stock, valued at approximately $2,141,727.12. The disclosure for this sale can be found here. Insiders sold a total of 150,000 shares of company stock valued at $1,917,122 over the last quarter. 2.20% of the stock is owned by corporate insiders.

Harmonic Stock Performance

Shares of HLIT traded down $0.23 during midday trading on Monday, reaching $10.33. 2,506,673 shares of the stock were exchanged, compared to its average volume of 1,953,568. Harmonic Inc. has a twelve month low of $8.80 and a twelve month high of $18.43. The company has a quick ratio of 0.91, a current ratio of 1.21 and a debt-to-equity ratio of 0.02. The company has a market cap of $1.16 billion, a P/E ratio of 14.55 and a beta of 0.84. The stock's 50 day simple moving average is $12.94 and its 200 day simple moving average is $11.75.

Harmonic (NASDAQ:HLIT - Get Free Report) last posted its earnings results on Monday, January 29th. The communications equipment provider reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.03. Harmonic had a return on equity of 4.71% and a net margin of 13.82%. The company had revenue of $167.10 million during the quarter, compared to the consensus estimate of $158.98 million. During the same quarter last year, the firm earned $0.12 earnings per share. The company's revenue was up 1.7% on a year-over-year basis. On average, sell-side analysts expect that Harmonic Inc. will post 0.32 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. TheStreet upgraded Harmonic from a "c" rating to a "b" rating in a report on Monday, January 29th. Raymond James cut their price objective on Harmonic from $19.00 to $18.00 and set a "strong-buy" rating for the company in a report on Tuesday, January 30th. Rosenblatt Securities cut their price target on Harmonic from $18.00 to $16.00 and set a "buy" rating for the company in a 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 report on Tuesday, April 9th. Finally, StockNews.com raised Harmonic from a "sell" rating to a "hold" rating in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $17.20.

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.