JPMorgan Chase & Co. Has $3.60 Million Stake in Harmonic Inc. (NASDAQ:HLIT)

JPMorgan Chase & Co. increased its position in Harmonic Inc. (NASDAQ:HLIT - Free Report) by 18.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 246,944 shares of the communications equipment provider's stock after purchasing an additional 38,137 shares during the quarter. JPMorgan Chase & Co. owned 0.21% of Harmonic worth $3,598,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in Harmonic by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,741,998 shares of the communications equipment provider's stock valued at $44,043,000 after buying an additional 294,922 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Harmonic by 0.7% in the third quarter. Geode Capital Management LLC now owns 2,675,268 shares of the communications equipment provider's stock valued at $38,986,000 after purchasing an additional 17,665 shares during the last quarter. Wasatch Advisors LP grew its stake in Harmonic by 15.3% during the 3rd quarter. Wasatch Advisors LP now owns 1,659,823 shares of the communications equipment provider's stock valued at $24,184,000 after purchasing an additional 219,685 shares in the last quarter. Clearline Capital LP increased its holdings in Harmonic by 777.6% during the 2nd quarter. Clearline Capital LP now owns 1,570,461 shares of the communications equipment provider's stock worth $18,484,000 after purchasing an additional 1,391,504 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in shares of Harmonic by 85.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,208,829 shares of the communications equipment provider's stock valued at $17,613,000 after purchasing an additional 555,737 shares in the last quarter. 99.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Barclays lowered shares of Harmonic from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $17.00 to $14.00 in a research note on Thursday, January 9th. Raymond James lowered shares of Harmonic from a "strong-buy" rating to an "outperform" rating and cut their target price for the company from $17.00 to $14.00 in a research note on Tuesday, October 29th. Rosenblatt Securities decreased their price target 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 cut Harmonic from a "buy" rating to a "hold" rating and cut their price objective for the company from $14.00 to $12.50 in a research note on Tuesday, October 29th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $18.00 target price on shares of Harmonic in a research report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $14.75.

Harmonic Stock Down 0.2 %

HLIT traded down $0.02 during trading on Friday, reaching $12.40. 1,049,434 shares of the stock traded hands, compared to its average volume of 983,951. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 16.99 and a beta of 0.91. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.08 and a quick ratio of 1.62. Harmonic Inc. has a fifty-two week low of $9.10 and a fifty-two week high of $15.46. The stock's 50-day simple moving average is $12.87 and its two-hundred day simple moving average is $13.19.

Harmonic (NASDAQ:HLIT - Get Free Report) last posted its earnings results on Monday, October 28th. The communications equipment provider reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.09. The company had revenue of $195.80 million for the quarter, compared to analyst estimates of $181.77 million. Harmonic had a return on equity of 7.56% and a net margin of 13.62%. The business's revenue was up 53.9% compared to the same quarter last year. During the same period last year, the company earned ($0.05) earnings per share. As a group, equities research 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.