Harmonic Inc. (NASDAQ:HLIT) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its holdings in shares of Harmonic Inc. (NASDAQ:HLIT - Free Report) by 27.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,306,662 shares of the communications equipment provider's stock after selling 482,627 shares during the period. Victory Capital Management Inc. owned approximately 1.12% of Harmonic worth $19,038,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in shares of Harmonic by 117.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,448 shares of the communications equipment provider's stock worth $36,000 after purchasing an additional 1,323 shares during the last quarter. Dark Forest Capital Management LP boosted its position in shares of Harmonic by 7.2% during the 2nd quarter. Dark Forest Capital Management LP now owns 20,192 shares of the communications equipment provider's stock valued at $238,000 after acquiring an additional 1,362 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Harmonic by 0.4% in the second quarter. Rhumbline Advisers now owns 320,516 shares of the communications equipment provider's stock valued at $3,772,000 after purchasing an additional 1,382 shares during the period. ProShare Advisors LLC increased its position in Harmonic by 7.4% during the first quarter. ProShare Advisors LLC now owns 22,256 shares of the communications equipment provider's stock worth $299,000 after purchasing an additional 1,532 shares during the last quarter. Finally, CWM LLC raised its stake 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 during the period. 99.38% of the stock is owned by institutional investors and hedge funds.

Harmonic Stock Up 2.2 %

Harmonic stock traded up $0.26 during trading on Tuesday, reaching $12.21. The stock had a trading volume of 850,260 shares, compared to its average volume of 1,512,109. The company has a quick ratio of 1.62, a current ratio of 2.08 and a debt-to-equity ratio of 0.29. Harmonic Inc. has a 52-week low of $9.10 and a 52-week high of $15.46. The stock has a market cap of $1.42 billion, a PE ratio of 16.73 and a beta of 0.89. The business has a 50 day moving average price of $13.34 and a 200 day moving average price of $12.77.

Harmonic (NASDAQ:HLIT - Get Free Report) last issued its earnings results 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. The firm had revenue of $195.80 million during the quarter, compared to the consensus estimate of $181.77 million. Harmonic had a net margin of 13.62% and a return on equity of 7.56%. The company's revenue was up 53.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. On average, analysts predict that Harmonic Inc. will post 0.52 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Rosenblatt Securities reduced their price target on shares of Harmonic from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Tuesday, October 29th. Barclays lowered their price target on Harmonic from $20.00 to $17.00 and set an "overweight" rating for the company in a report on Tuesday, October 29th. Jefferies Financial Group cut shares of Harmonic from a "buy" rating to a "hold" rating and decreased their target price for the company from $14.00 to $12.50 in a research report on Tuesday, October 29th. Raymond James cut shares of Harmonic from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the stock from $17.00 to $14.00 in a research report on Tuesday, October 29th. Finally, Northland Securities cut their target price on Harmonic from $16.00 to $14.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 29th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Harmonic currently has an average rating of "Moderate Buy" and a consensus target price of $15.25.

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.