Manatuck Hill Partners LLC purchased a new stake in Harmonic Inc (NASDAQ:HLIT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 30,000 shares of the communications equipment provider’s stock, valued at approximately $128,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. OMERS ADMINISTRATION Corp purchased a new stake in Harmonic during the first quarter worth $107,000. SG Americas Securities LLC purchased a new stake in Harmonic during the second quarter worth $138,000. MetLife Investment Advisors LLC lifted its holdings in Harmonic by 111.5% during the first quarter. MetLife Investment Advisors LLC now owns 39,538 shares of the communications equipment provider’s stock worth $150,000 after buying an additional 20,842 shares during the period. Laurion Capital Management LP purchased a new stake in Harmonic during the second quarter worth $213,000. Finally, Spark Investment Management LLC lifted its holdings in Harmonic by 149.9% during the first quarter. Spark Investment Management LLC now owns 96,200 shares of the communications equipment provider’s stock worth $365,000 after buying an additional 57,700 shares during the period. Hedge funds and other institutional investors own 86.54% of the company’s stock.
Shares of HLIT opened at $5.10 on Friday. Harmonic Inc has a 12 month low of $2.80 and a 12 month high of $5.65. The company has a quick ratio of 1.12, a current ratio of 1.29 and a debt-to-equity ratio of 0.57. The firm has a market cap of $464.57 million, a PE ratio of -9.44 and a beta of 0.74.
Harmonic (NASDAQ:HLIT) last issued its quarterly earnings data on Monday, July 30th. The communications equipment provider reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.09. Harmonic had a negative return on equity of 5.68% and a negative net margin of 11.52%. The firm had revenue of $99.40 million during the quarter, compared to analyst estimates of $95.72 million. During the same quarter in the prior year, the business posted ($0.20) EPS. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. analysts forecast that Harmonic Inc will post -0.08 earnings per share for the current year.
A number of analysts have weighed in on HLIT shares. BidaskClub upgraded Harmonic from a “hold” rating to a “buy” rating in a report on Tuesday, June 19th. ValuEngine upgraded Harmonic from a “hold” rating to a “buy” rating in a report on Monday, June 11th. Northland Securities set a $7.00 target price on Harmonic and gave the stock a “buy” rating in a report on Thursday, August 2nd. TheStreet upgraded Harmonic from a “d” rating to a “c-” rating in a report on Monday, July 30th. Finally, Zacks Investment Research lowered Harmonic from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Harmonic presently has an average rating of “Buy” and a consensus target price of $5.31.
Harmonic Company Profile
Harmonic Inc designs, manufactures, and sells video infrastructure products and system solutions worldwide. Its products enable customers to create, prepare, and deliver a range of video and broadband services to consumer devices, including televisions, personal computers, laptops, tablets, and smart phones.
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