Raymond James & Associates acquired a new stake in Harmonic Inc. (NASDAQ:HLIT – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 84,471 shares of the communications equipment provider’s stock, valued at approximately $1,366,000. Raymond James & Associates owned 0.08% of Harmonic at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of HLIT. Wellington Management Group LLP raised its holdings in Harmonic by 35.0% in the 1st quarter. Wellington Management Group LLP now owns 7,800,863 shares of the communications equipment provider’s stock valued at $113,815,000 after buying an additional 2,022,350 shares during the period. Millennium Management LLC increased its stake in Harmonic by 276.3% during the second quarter. Millennium Management LLC now owns 1,837,589 shares of the communications equipment provider’s stock worth $15,932,000 after purchasing an additional 1,349,242 shares during the period. FMR LLC increased its stake in Harmonic by 841.8% during the first quarter. FMR LLC now owns 1,411,463 shares of the communications equipment provider’s stock worth $20,593,000 after purchasing an additional 1,261,597 shares during the period. Hood River Capital Management LLC increased its stake in Harmonic by 53.1% during the first quarter. Hood River Capital Management LLC now owns 3,589,989 shares of the communications equipment provider’s stock worth $52,378,000 after purchasing an additional 1,245,308 shares during the period. Finally, Trigran Investments Inc. increased its stake in Harmonic by 14.6% during the first quarter. Trigran Investments Inc. now owns 8,466,639 shares of the communications equipment provider’s stock worth $123,528,000 after purchasing an additional 1,079,161 shares during the period. 99.38% of the stock is currently owned by hedge funds and other institutional investors.
Harmonic Stock Performance
Shares of HLIT opened at $10.40 on Friday. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 260.00 and a beta of 0.90. Harmonic Inc. has a 52-week low of $8.80 and a 52-week high of $18.43. The stock has a 50 day moving average price of $9.96 and a 200 day moving average price of $13.27. The company has a quick ratio of 0.76, a current ratio of 1.20 and a debt-to-equity ratio of 0.03.
Analyst Ratings Changes
A number of brokerages have issued reports on HLIT. StockNews.com upgraded shares of Harmonic from a “sell” rating to a “hold” rating in a research note on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price target on shares of Harmonic in a research note on Tuesday. Barclays cut their target price on shares of Harmonic from $20.00 to $14.00 and set an “overweight” rating on the stock in a research note on Wednesday. Raymond James cut their target price on shares of Harmonic from $16.00 to $15.00 and set a “strong-buy” rating on the stock in a research note on Tuesday. Finally, TheStreet lowered shares of Harmonic from a “b” rating to a “c+” rating in a research note on Monday, July 31st. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $17.33.
Check Out Our Latest Report on Harmonic
Harmonic Company Profile
Harmonic Inc, together with its subsidiaries, provide video delivery software, products, system solutions, and services worldwide. The company operates in two segments, Video and Broadband. The Video segment sells video processing, production, and playout solutions and services to broadband operators, and satellite and telecommunications Pay-TV service providers, as well as to broadcast and media, including streaming media companies.
Recommended Stories
- Five stocks we like better than Harmonic
- How to Invest in Cybersecurity
- A bullish storm is brewing for cloud stocks
- How to Start Investing in Penny Stocks
- Is Extreme Networks’ forecast a sign of industry woes?
- How to Analyze Restaurant Stocks
- Profits come after ignorance Is highest: A PayPal story
Want to see what other hedge funds are holding HLIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Harmonic Inc. (NASDAQ:HLIT – Free Report).
Receive News & Ratings for Harmonic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harmonic and related companies with MarketBeat.com's FREE daily email newsletter.
