Quantbot Technologies LP Invests $477,000 in Harmonic Inc. (NASDAQ:HLIT)

Quantbot Technologies LP acquired a new stake in Harmonic Inc. (NASDAQ:HLITFree Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 49,526 shares of the communications equipment provider’s stock, valued at approximately $477,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Illinois Municipal Retirement Fund bought a new stake in shares of Harmonic during the 3rd quarter worth about $635,000. Victory Capital Management Inc. boosted its holdings in shares of Harmonic by 49.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,690,795 shares of the communications equipment provider’s stock worth $16,282,000 after buying an additional 562,019 shares during the period. Mesirow Financial Investment Management Inc. boosted its holdings in shares of Harmonic by 68.5% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 31,652 shares of the communications equipment provider’s stock worth $305,000 after buying an additional 12,871 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of Harmonic by 1.4% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 160,504 shares of the communications equipment provider’s stock worth $1,546,000 after buying an additional 2,151 shares during the period. Finally, Rice Hall James & Associates LLC boosted its holdings in shares of Harmonic by 17.9% during the 3rd quarter. Rice Hall James & Associates LLC now owns 311,720 shares of the communications equipment provider’s stock worth $3,002,000 after buying an additional 47,342 shares during the period. Institutional investors own 99.38% of the company’s stock.

Analyst Ratings Changes

HLIT has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 target price on shares of Harmonic in a report on Wednesday, December 20th. Barclays cut their price objective on shares of Harmonic from $20.00 to $14.00 and set an “overweight” rating for the company in a report on Wednesday, November 1st. Rosenblatt Securities cut their price objective on shares of Harmonic from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, January 30th. Raymond James cut their price objective on shares of Harmonic from $19.00 to $18.00 and set a “strong-buy” rating for the company in a report on Tuesday, January 30th. Finally, StockNews.com raised shares of Harmonic from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $17.20.

Check Out Our Latest Research Report on HLIT

Harmonic Price Performance

Shares of NASDAQ:HLIT opened at $12.94 on Thursday. The firm has a 50 day moving average of $11.84 and a 200-day moving average of $11.04. The stock has a market capitalization of $1.45 billion, a PE ratio of 18.23 and a beta of 0.82. The company has a current ratio of 1.21, a quick ratio of 0.91 and a debt-to-equity ratio of 0.02. Harmonic Inc. has a 12 month low of $8.80 and a 12 month high of $18.43.

Harmonic (NASDAQ:HLITGet Free Report) last issued its earnings results on Monday, January 29th. The communications equipment provider reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $167.10 million during the quarter, compared to analysts’ expectations of $158.98 million. Harmonic had a net margin of 13.82% and a return on equity of 4.71%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.12 EPS. On average, equities research analysts predict that Harmonic Inc. will post 0.35 EPS for the current fiscal year.

About Harmonic

(Free Report)

Harmonic Inc, together with its subsidiaries, provide video delivery software, products, system solutions, and services worldwide. The company operates in two segments, Video and Broadband. The Video segment sells video processing, production, and playout solutions and services to broadband operators, and satellite and telecommunications Pay-TV service providers, as well as to broadcast and media, including streaming media companies.

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Institutional Ownership by Quarter for Harmonic (NASDAQ:HLIT)

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