Mutual of America Capital Management LLC Acquires 121,937 Shares of Harmonic Inc. (NASDAQ:HLIT)

Mutual of America Capital Management LLC lifted its stake in Harmonic Inc. (NASDAQ:HLIT) by 48.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 373,437 shares of the communications equipment provider’s stock after purchasing an additional 121,937 shares during the period. Mutual of America Capital Management LLC’s holdings in Harmonic were worth $4,870,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in HLIT. Citigroup Inc. boosted its position in shares of Harmonic by 9.8% in the 1st quarter. Citigroup Inc. now owns 98,410 shares of the communications equipment provider’s stock worth $915,000 after purchasing an additional 8,751 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Harmonic by 11.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 17,132 shares of the communications equipment provider’s stock worth $160,000 after purchasing an additional 1,710 shares during the last quarter. MetLife Investment Management LLC boosted its position in shares of Harmonic by 41.4% in the 1st quarter. MetLife Investment Management LLC now owns 44,310 shares of the communications equipment provider’s stock worth $412,000 after purchasing an additional 12,980 shares during the last quarter. Rhumbline Advisers raised its stake in Harmonic by 2.7% during the 1st quarter. Rhumbline Advisers now owns 265,630 shares of the communications equipment provider’s stock worth $2,468,000 after buying an additional 6,932 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Harmonic by 14.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 88,761 shares of the communications equipment provider’s stock worth $825,000 after buying an additional 11,240 shares during the period. 99.38% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Neven Haltmayer sold 24,695 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $11.58, for a total value of $285,968.10. Following the completion of the transaction, the senior vice president now owns 181,864 shares in the company, valued at approximately $2,105,985.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Nimrod Ben-Natan sold 100,000 shares of Harmonic stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $12.91, for a total transaction of $1,291,000.00. Following the completion of the transaction, the senior vice president now owns 302,214 shares in the company, valued at $3,901,582.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Neven Haltmayer sold 24,695 shares of Harmonic stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $11.58, for a total value of $285,968.10. Following the transaction, the senior vice president now owns 181,864 shares of the company’s stock, valued at approximately $2,105,985.12. The disclosure for this sale can be found here. Insiders sold 150,000 shares of company stock worth $1,917,122 in the last quarter. Corporate insiders own 2.20% of the company’s stock.

Harmonic Stock Performance

HLIT opened at $10.56 on Monday. The business’s 50-day moving average price is $12.99 and its two-hundred day moving average price is $11.75. Harmonic Inc. has a 1 year low of $8.80 and a 1 year high of $18.43. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 14.87 and a beta of 0.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.21 and a quick ratio of 0.91.

Harmonic (NASDAQ:HLIT) last announced its quarterly earnings data on Monday, January 29th. The communications equipment provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $167.10 million during the quarter, compared to analysts’ expectations of $158.98 million. Harmonic had a return on equity of 4.71% and a net margin of 13.82%. Harmonic’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.12 EPS. Equities analysts expect that Harmonic Inc. will post 0.32 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on HLIT. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Harmonic in a research note on Tuesday, April 9th. Rosenblatt Securities dropped 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, January 30th. Raymond James dropped their price objective on Harmonic from $19.00 to $18.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, January 30th. StockNews.com raised Harmonic from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. Finally, TheStreet raised Harmonic from a “c” rating to a “b” rating in a research note on Monday, January 29th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Harmonic currently has an average rating of “Buy” and an average target price of $17.20.

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.