Teacher Retirement System of Texas Grows Stock Holdings in Harmonic Inc. (NASDAQ:HLIT)

Teacher Retirement System of Texas grew its holdings in shares of Harmonic Inc. (NASDAQ:HLIT) by 49.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 74,832 shares of the communications equipment provider’s stock after purchasing an additional 24,762 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.06% of Harmonic worth $718,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in HLIT. Bouvel Investment Partners LLC lifted its stake in shares of Harmonic by 1.8% in the 1st quarter. Bouvel Investment Partners LLC now owns 120,524 shares of the communications equipment provider’s stock valued at $1,156,000 after purchasing an additional 2,079 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Harmonic by 33.0% in the first quarter. Assenagon Asset Management S.A. now owns 348,382 shares of the communications equipment provider’s stock worth $3,341,000 after buying an additional 86,390 shares during the period. Handelsbanken Fonder AB grew its stake in shares of Harmonic by 44.3% in the first quarter. Handelsbanken Fonder AB now owns 52,100 shares of the communications equipment provider’s stock valued at $500,000 after buying an additional 16,000 shares in the last quarter. Silverberg Bernstein Capital Management LLC raised its holdings in shares of Harmonic by 6.5% during the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 833,779 shares of the communications equipment provider’s stock valued at $7,996,000 after buying an additional 50,652 shares during the period. Finally, GAMMA Investing LLC lifted its position in Harmonic by 415.7% during the 1st quarter. GAMMA Investing LLC now owns 8,612 shares of the communications equipment provider’s stock worth $898,000 after acquiring an additional 6,942 shares in the last quarter. Institutional investors and hedge funds own 99.38% of the company’s stock.

Harmonic Stock Performance

Shares of Harmonic stock opened at $9.01 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.69 and a current ratio of 2.06. Harmonic Inc. has a 1 year low of $7.91 and a 1 year high of $15.46. The firm’s 50-day simple moving average is $9.30 and its 200-day simple moving average is $10.08. The firm has a market cap of $1.02 billion, a PE ratio of 20.02 and a beta of 1.05.

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

Analyst Ratings Changes

Several analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Harmonic in a research report on Tuesday, April 29th. Barclays reaffirmed an “underperform” rating on shares of Harmonic in a report on Tuesday, April 29th. Rosenblatt Securities reiterated a “buy” rating and issued a $11.00 price objective on shares of Harmonic in a report on Tuesday, June 17th. Wolfe Research started coverage on shares of Harmonic in a research report on Tuesday, July 8th. They issued an “underperform” rating for the company. Finally, Wall Street Zen lowered Harmonic from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $12.33.

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.