Fmr LLC Has $2.22 Million Stake in Harmonic Inc. (NASDAQ:HLIT)

FMR LLC grew its holdings in Harmonic Inc. (NASDAQ:HLIT - Free Report) by 2,191.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 152,401 shares of the communications equipment provider's stock after purchasing an additional 145,751 shares during the quarter. FMR LLC owned approximately 0.13% of Harmonic worth $2,220,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of HLIT. Dynamic Technology Lab Private Ltd lifted its position in shares of Harmonic by 147.2% in the third quarter. Dynamic Technology Lab Private Ltd now owns 36,345 shares of the communications equipment provider's stock valued at $530,000 after acquiring an additional 21,643 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Harmonic by 3.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,036,729 shares of the communications equipment provider's stock valued at $15,105,000 after purchasing an additional 34,405 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of Harmonic by 412.4% during the 3rd quarter. Intech Investment Management LLC now owns 193,310 shares of the communications equipment provider's stock worth $2,817,000 after purchasing an additional 155,580 shares during the last quarter. Royce & Associates LP grew its holdings in shares of Harmonic by 12.6% during the third quarter. Royce & Associates LP now owns 1,019,638 shares of the communications equipment provider's stock worth $14,856,000 after buying an additional 113,929 shares in the last quarter. Finally, Bouvel Investment Partners LLC purchased a new stake in shares of Harmonic during the third quarter worth about $1,756,000. 99.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Northland Securities decreased their target price on shares of Harmonic from $16.00 to $14.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 29th. Needham & Company LLC restated a "buy" rating and set a $18.00 price objective on shares of Harmonic in a report on Tuesday, October 29th. Rosenblatt Securities dropped their target price on Harmonic from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Tuesday, October 29th. Barclays reduced their target price on Harmonic from $20.00 to $17.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 29th. Finally, Raymond James downgraded shares of Harmonic from a "strong-buy" rating to an "outperform" rating and dropped their price objective for the company from $17.00 to $14.00 in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.25.

Harmonic Trading Down 1.3 %

NASDAQ:HLIT traded down $0.18 on Friday, hitting $13.18. 1,227,114 shares of the stock were exchanged, compared to its average volume of 1,465,520. 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 Inc. has a fifty-two week low of $9.10 and a fifty-two week high of $15.46. The stock has a market cap of $1.54 billion, a PE ratio of 18.05 and a beta of 0.92. The stock has a fifty day moving average of $12.91 and a 200-day moving average of $12.93.

Harmonic (NASDAQ:HLIT - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The communications equipment provider reported $0.26 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $181.77 million. During the same period last year, the company earned ($0.05) earnings per share. The company's revenue was up 53.9% on a year-over-year basis. As a group, equities analysts expect that Harmonic Inc. will post 0.52 earnings per share for the current fiscal 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.