Barclays PLC Has $2.94 Million Stock Position in Harmonic Inc. (NASDAQ:HLIT)

Barclays PLC boosted its stake in Harmonic Inc. (NASDAQ:HLIT) by 414.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 201,976 shares of the communications equipment provider’s stock after purchasing an additional 162,727 shares during the quarter. Barclays PLC owned about 0.17% of Harmonic worth $2,944,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James & Associates increased its holdings in Harmonic by 88.3% in the 2nd quarter. Raymond James & Associates now owns 272,477 shares of the communications equipment provider’s stock valued at $3,207,000 after buying an additional 127,752 shares during the period. Louisiana State Employees Retirement System increased its stake in Harmonic by 5.2% in the second quarter. Louisiana State Employees Retirement System now owns 58,600 shares of the communications equipment provider’s stock valued at $690,000 after acquiring an additional 2,900 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Harmonic by 3.9% in the second quarter. Bank of New York Mellon Corp now owns 849,530 shares of the communications equipment provider’s stock valued at $9,999,000 after acquiring an additional 31,787 shares during the last quarter. Verdence Capital Advisors LLC acquired a new position in Harmonic during the second quarter valued at approximately $140,000. Finally, Innealta Capital LLC bought a new stake in Harmonic during the second quarter worth $47,000. Institutional investors and hedge funds own 99.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on HLIT shares. 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. Rosenblatt Securities lowered their target price 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 downgraded shares of Harmonic from a “buy” rating to a “hold” rating and reduced their price target for the company from $14.00 to $12.50 in a research note on Tuesday, October 29th. Northland Securities lowered their price objective on shares of Harmonic from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th. Finally, Raymond James downgraded shares of Harmonic from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $17.00 to $14.00 in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Harmonic currently has a consensus rating of “Moderate Buy” and an average target price of $15.25.

Harmonic Trading Up 0.7 %

HLIT opened at $13.44 on Wednesday. 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 company’s 50 day moving average price is $12.86 and its two-hundred day moving average price is $13.00. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 18.41 and a beta of 0.92.

Harmonic (NASDAQ:HLIT) last posted its quarterly earnings data on Monday, October 28th. The communications equipment provider reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.09. The business had revenue of $195.80 million during the quarter, compared to the consensus estimate of $181.77 million. Harmonic had a return on equity of 7.56% and a net margin of 13.62%. Harmonic’s quarterly revenue was up 53.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) earnings per share. As a group, research analysts predict that Harmonic Inc. will post 0.52 earnings per share for the current year.

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.