57,779 Shares in Harmonic Inc. (NASDAQ:HLIT) Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC acquired a new position in Harmonic Inc. (NASDAQ:HLIT - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 57,779 shares of the communications equipment provider's stock, valued at approximately $842,000.

Several other institutional investors and hedge funds have also recently modified their holdings of HLIT. CWM LLC boosted its stake in Harmonic by 780.9% in the 2nd quarter. CWM LLC now owns 2,255 shares of the communications equipment provider's stock worth $27,000 after purchasing an additional 1,999 shares during the period. GAMMA Investing LLC grew its stake in Harmonic by 117.6% during the third quarter. GAMMA Investing LLC now owns 2,448 shares of the communications equipment provider's stock valued at $36,000 after acquiring an additional 1,323 shares in the last quarter. Innealta Capital LLC bought a new stake in Harmonic in the 2nd quarter valued at $47,000. SageView Advisory Group LLC purchased a new stake in Harmonic in the 1st quarter worth $114,000. Finally, Verdence Capital Advisors LLC bought a new position in shares of Harmonic during the 2nd quarter valued at about $140,000. 99.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HLIT. Needham & Company LLC reaffirmed a "buy" rating and issued a $18.00 target price on shares of Harmonic in a report on Tuesday, October 29th. Rosenblatt Securities reduced their price objective on Harmonic from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Tuesday, October 29th. Northland Securities decreased their price objective on Harmonic from $16.00 to $14.00 and set an "outperform" rating on the stock in a report on Tuesday, October 29th. Barclays cut their target price on shares of Harmonic from $20.00 to $17.00 and set an "overweight" rating for the company in a report on Tuesday, October 29th. Finally, Jefferies Financial Group downgraded shares of Harmonic from a "buy" rating to a "hold" rating and decreased their price target for the company from $14.00 to $12.50 in a research note on Tuesday, October 29th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Harmonic presently has an average rating of "Moderate Buy" and an average target price of $15.25.

Harmonic Trading Down 3.9 %

Shares of HLIT stock traded down $0.48 during trading hours on Friday, reaching $11.92. 1,360,774 shares of the stock were exchanged, compared to its average volume of 1,517,355. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 16.33 and a beta of 0.89. Harmonic Inc. has a 12-month low of $9.10 and a 12-month high of $15.46. The company's 50-day moving average price is $13.40 and its 200-day moving average price is $12.73. The company has a current ratio of 2.08, a quick ratio of 1.62 and a debt-to-equity ratio of 0.29.

Harmonic (NASDAQ:HLIT - Get Free Report) last released its earnings results on Monday, October 28th. The communications equipment provider reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.09. Harmonic had a return on equity of 7.56% and a net margin of 13.62%. The firm had revenue of $195.80 million for the quarter, compared to analysts' expectations of $181.77 million. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. The company's quarterly revenue was up 53.9% on a year-over-year basis. As a group, equities analysts anticipate that Harmonic Inc. will post 0.52 earnings per share for the current year.

Harmonic 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.