State of Alaska Department of Revenue Trims Stock Holdings in Harmonic Inc. (NASDAQ:HLIT)

State of Alaska Department of Revenue cut its holdings in shares of Harmonic Inc. (NASDAQ:HLIT) by 2.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,858 shares of the communications equipment provider’s stock after selling 1,368 shares during the period. State of Alaska Department of Revenue owned about 0.06% of Harmonic worth $621,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Harmonic by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 11,063,328 shares of the communications equipment provider’s stock worth $146,368,000 after purchasing an additional 235,188 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Harmonic by 20.0% during the fourth quarter. Invesco Ltd. now owns 7,788,714 shares of the communications equipment provider’s stock valued at $103,045,000 after acquiring an additional 1,300,128 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Harmonic by 9,004.4% during the fourth quarter. Millennium Management LLC now owns 4,719,837 shares of the communications equipment provider’s stock valued at $62,443,000 after acquiring an additional 4,667,996 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Harmonic by 8.9% in the 4th quarter. Alliancebernstein L.P. now owns 2,145,357 shares of the communications equipment provider’s stock valued at $28,383,000 after buying an additional 175,133 shares during the period. Finally, CenterBook Partners LP grew its holdings in Harmonic by 4.5% in the 4th quarter. CenterBook Partners LP now owns 1,335,941 shares of the communications equipment provider’s stock valued at $17,674,000 after buying an additional 57,046 shares during the period. 99.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HLIT has been the topic of a number of recent research reports. Rosenblatt Securities reissued a “buy” rating and set a $11.00 target price on shares of Harmonic in a research report on Tuesday, June 17th. Barclays reissued an “underperform” rating on shares of Harmonic in a research note on Tuesday, April 29th. Wall Street Zen upgraded Harmonic from a “buy” rating to a “strong-buy” rating in a report on Friday, June 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $14.00 price objective on shares of Harmonic in a research note on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $12.33.

Harmonic Trading Up 0.7%

NASDAQ:HLIT opened at $9.49 on Friday. The company has a market cap of $1.07 billion, a P/E ratio of 21.09 and a beta of 1.04. The company has a quick ratio of 1.69, a current ratio of 2.06 and a debt-to-equity ratio of 0.27. Harmonic Inc. has a twelve month low of $7.91 and a twelve month high of $15.46. The business has a 50 day moving average price of $9.17 and a two-hundred day moving average price of $10.39.

Harmonic (NASDAQ:HLIT) last posted its quarterly earnings data on Monday, April 28th. The communications equipment provider reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.06. Harmonic had a return on equity of 18.28% and a net margin of 7.72%. The firm had revenue of $133.14 million for the quarter, compared to analysts’ expectations of $127.51 million. The business’s revenue was up 9.1% compared to the same quarter last year. As a group, analysts expect that Harmonic Inc. will post 0.31 EPS for the current fiscal 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.