Harmonic Inc. (NASDAQ:HLIT) Shares Purchased by Jane Street Group LLC

Jane Street Group LLC grew its stake in Harmonic Inc. (NASDAQ:HLIT - Free Report) by 40.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. CWM LLC boosted its holdings 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 buying an additional 1,999 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Harmonic by 117.6% in the third quarter. GAMMA Investing LLC now owns 2,448 shares of the communications equipment provider's stock worth $36,000 after acquiring an additional 1,323 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Harmonic in the second quarter worth approximately $47,000. Verdence Capital Advisors LLC purchased a new stake in shares of Harmonic during the second quarter worth approximately $140,000. Finally, Captrust Financial Advisors lifted its holdings in Harmonic by 14.9% in the 3rd quarter. Captrust Financial Advisors now owns 12,671 shares of the communications equipment provider's stock valued at $185,000 after purchasing an additional 1,647 shares in the last quarter. Hedge funds and other institutional investors own 99.38% of the company's stock.

Harmonic Trading Up 0.5 %

HLIT traded up $0.06 during trading hours on Friday, reaching $13.32. The company's stock had a trading volume of 1,849,254 shares, compared to its average volume of 1,473,609. Harmonic Inc. has a fifty-two week low of $9.10 and a fifty-two week high of $15.46. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.08 and a quick ratio of 1.62. The stock has a market cap of $1.55 billion, a PE ratio of 18.25 and a beta of 0.92. The business's 50-day moving average is $12.88 and its 200-day moving average is $12.97.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Raymond James cut shares of Harmonic from a "strong-buy" rating to an "outperform" rating and reduced their target price for the company from $17.00 to $14.00 in a research report on Tuesday, October 29th. Northland Securities cut their price objective on shares of Harmonic from $16.00 to $14.00 and set an "outperform" rating for the company in a report on Tuesday, October 29th. Barclays lowered their target price on Harmonic from $20.00 to $17.00 and set an "overweight" rating on the stock in a report on Tuesday, October 29th. Needham & Company LLC reaffirmed a "buy" rating and issued a $18.00 price target on shares of Harmonic in a report on Tuesday, October 29th. Finally, Rosenblatt Securities lowered 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. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Harmonic has an average rating of "Moderate Buy" and a consensus target price of $15.25.

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.