Jane Street Group LLC Purchases 57,888 Shares of Harmonic Inc. (NASDAQ:HLIT)

Jane Street Group LLC grew its stake in shares of Harmonic Inc. (NASDAQ:HLIT - Free Report) by 40.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 201,386 shares of the communications equipment provider's stock after purchasing an additional 57,888 shares during the quarter. Jane Street Group LLC owned approximately 0.17% of Harmonic worth $2,934,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. CWM LLC raised its holdings in Harmonic by 780.9% during the second 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 in the last quarter. Raymond James & Associates lifted its position in shares of Harmonic by 88.3% in the second quarter. Raymond James & Associates now owns 272,477 shares of the communications equipment provider's stock valued at $3,207,000 after acquiring an additional 127,752 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in Harmonic by 5.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 58,600 shares of the communications equipment provider's stock valued at $690,000 after purchasing an additional 2,900 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Harmonic by 3.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 849,530 shares of the communications equipment provider's stock valued at $9,999,000 after acquiring an additional 31,787 shares during the last quarter. Finally, Verdence Capital Advisors LLC purchased a new stake in shares of Harmonic in the second quarter valued at $140,000. Institutional investors and hedge funds own 99.38% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HLIT. Needham & Company LLC reiterated a "buy" rating and set a $18.00 price objective on shares of Harmonic in a report on Tuesday, October 29th. Barclays dropped their target price on shares of Harmonic from $20.00 to $17.00 and set an "overweight" rating for the company in a research report on Tuesday, October 29th. Rosenblatt Securities lowered 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. Jefferies Financial Group lowered shares of Harmonic from a "buy" rating to a "hold" rating and cut their price objective for the stock from $14.00 to $12.50 in a report on Tuesday, October 29th. Finally, Raymond James downgraded shares of Harmonic from a "strong-buy" rating to an "outperform" rating and dropped their target price for the stock from $17.00 to $14.00 in a research report on Tuesday, October 29th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Harmonic has a consensus rating of "Moderate Buy" and a consensus price target of $15.25.

Harmonic Stock Up 0.5 %

Shares of NASDAQ:HLIT traded up $0.06 on Friday, reaching $13.32. The company had a trading volume of 1,849,254 shares, compared to its average volume of 1,473,609. The company has a quick ratio of 1.62, a current ratio of 2.08 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $1.55 billion, a P/E ratio of 18.25 and a beta of 0.92. The stock has a 50-day moving average price of $12.88 and a 200 day moving average price of $12.96. Harmonic Inc. has a twelve month low of $9.10 and a twelve month high of $15.46.

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, beating analysts' consensus estimates of $0.17 by $0.09. Harmonic had a net margin of 13.62% and a return on equity of 7.56%. The business had revenue of $195.80 million during the quarter, compared to analyst estimates of $181.77 million. During the same quarter in the prior year, the business earned ($0.05) earnings per share. The firm's revenue for the quarter was up 53.9% on a year-over-year basis. On average, equities analysts expect that Harmonic Inc. will post 0.52 EPS for the current year.

Harmonic Company 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.