New York State Teachers Retirement System Decreases Stake in Harmonic Inc. (HLIT)

New York State Teachers Retirement System decreased its stake in Harmonic Inc. (NASDAQ:HLIT) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 274,206 shares of the communications equipment provider’s stock after selling 4,900 shares during the period. New York State Teachers Retirement System’s holdings in Harmonic were worth $1,632,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Harmonic by 3.0% in the first quarter. Vanguard Group Inc. now owns 5,600,835 shares of the communications equipment provider’s stock valued at $33,325,000 after buying an additional 163,290 shares during the last quarter. Mackenzie Financial Corp increased its position in Harmonic by 18.4% in the first quarter. Mackenzie Financial Corp now owns 518,066 shares of the communications equipment provider’s stock valued at $3,082,000 after buying an additional 80,515 shares during the last quarter. Menta Capital LLC increased its position in Harmonic by 17.2% in the first quarter. Menta Capital LLC now owns 164,311 shares of the communications equipment provider’s stock valued at $978,000 after buying an additional 24,100 shares during the last quarter. Thrivent Financial For Lutherans increased its position in Harmonic by 7.7% in the first quarter. Thrivent Financial For Lutherans now owns 45,230 shares of the communications equipment provider’s stock valued at $269,000 after buying an additional 3,250 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Harmonic by 2.8% in the first quarter. Legal & General Group Plc now owns 132,227 shares of the communications equipment provider’s stock valued at $787,000 after buying an additional 3,588 shares during the last quarter. Institutional investors own 98.13% of the company’s stock.

Harmonic Inc. (NASDAQ HLIT) opened at 4.25 on Thursday. The firm has a 50-day moving average price of $5.21 and a 200 day moving average price of $5.39. Harmonic Inc. has a 52 week low of $3.01 and a 52 week high of $6.18. The company’s market cap is $342.26 million.

Harmonic (NASDAQ:HLIT) last issued its quarterly earnings results on Monday, May 1st. The communications equipment provider reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.09. The company had revenue of $82.90 million during the quarter, compared to analysts’ expectations of $92.62 million. Harmonic had a negative return on equity of 7.29% and a negative net margin of 17.50%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.11) EPS. Analysts expect that Harmonic Inc. will post ($0.25) EPS for the current fiscal year.

WARNING: “New York State Teachers Retirement System Decreases Stake in Harmonic Inc. (HLIT)” was published by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of US and international copyright & trademark laws. The original version of this news story can be accessed at https://sportsperspectives.com/2017/07/20/new-york-state-teachers-retirement-system-decreases-stake-in-harmonic-inc-hlit.html.

Several research firms have recently weighed in on HLIT. BidaskClub downgraded Harmonic from a “hold” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research downgraded Harmonic from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $4.00 price target (down previously from $4.75) on shares of Harmonic in a research note on Tuesday, May 2nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Harmonic presently has a consensus rating of “Hold” and a consensus target price of $5.44.

In other Harmonic news, CFO Harold L. Covert sold 13,172 shares of the company’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $5.14, for a total value of $67,704.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.27% of the company’s stock.

About Harmonic

Harmonic Inc (Harmonic) designs, manufactures and sells video infrastructure products, and system solutions. The Company has two segments: Video and Cable Edge. Harmonic provides technical support and professional services to its customers around the world. The Video segment sells video processing and production, and playout solutions and services to broadcast and media companies, streaming media companies, cable operators, and satellite and telecommunications (telco), and pay television (TV) service providers.

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).

Institutional Ownership by Quarter for Harmonic (NASDAQ:HLIT)

Receive News & Ratings for Harmonic Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harmonic Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply