New York State Teachers Retirement System Decreases Holdings in Harmonic Inc (HLIT)

New York State Teachers Retirement System decreased its position in Harmonic Inc (NASDAQ:HLIT) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 259,914 shares of the communications equipment provider’s stock after selling 4,661 shares during the quarter. New York State Teachers Retirement System owned approximately 0.30% of Harmonic worth $1,227,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HLIT. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Harmonic in the fourth quarter worth $32,000. Virtu Financial LLC bought a new position in shares of Harmonic during the fourth quarter valued at $184,000. MetLife Investment Advisors LLC increased its holdings in shares of Harmonic by 43.9% during the third quarter. MetLife Investment Advisors LLC now owns 56,889 shares of the communications equipment provider’s stock valued at $313,000 after acquiring an additional 17,351 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Harmonic during the second quarter valued at $505,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Harmonic during the third quarter valued at $540,000. Institutional investors and hedge funds own 87.10% of the company’s stock.

In other news, Director Susan Swenson sold 30,000 shares of the firm’s stock in a transaction on Friday, December 14th. The stock was sold at an average price of $5.18, for a total transaction of $155,400.00. Following the completion of the transaction, the director now directly owns 152,444 shares in the company, valued at $789,659.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.20% of the stock is owned by company insiders.

Several equities analysts have recently weighed in on HLIT shares. Zacks Investment Research upgraded Harmonic from a “hold” rating to a “buy” rating and set a $5.50 price target for the company in a report on Friday, January 11th. BidaskClub upgraded Harmonic from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 30th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Harmonic presently has an average rating of “Buy” and an average price target of $7.08.

Shares of NASDAQ:HLIT opened at $5.28 on Wednesday. Harmonic Inc has a 1-year low of $2.90 and a 1-year high of $6.32. The company has a quick ratio of 1.25, a current ratio of 1.44 and a debt-to-equity ratio of 0.56. The firm has a market cap of $464.71 million, a PE ratio of 176.00 and a beta of 0.85.

Harmonic (NASDAQ:HLIT) last issued its quarterly earnings results on Monday, February 4th. The communications equipment provider reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.06. Harmonic had a negative return on equity of 0.08% and a negative net margin of 5.21%. The firm had revenue of $113.60 million during the quarter, compared to the consensus estimate of $113.13 million. Harmonic’s revenue was up 12.4% compared to the same quarter last year. On average, sell-side analysts predict that Harmonic Inc will post -0.05 EPS for the current fiscal year.

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Harmonic 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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Institutional Ownership by Quarter for Harmonic (NASDAQ:HLIT)

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