Harmonic Inc. (HLIT) Stake Decreased by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its position in shares of Harmonic Inc. (NASDAQ:HLIT) by 0.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,100 shares of the communications equipment provider’s stock after selling 1 shares during the period. New York State Common Retirement Fund owned about 0.10% of Harmonic worth $421,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HLIT. Municipal Employees Retirement System of Michigan increased its holdings in shares of Harmonic by 5.6% during the second quarter. Municipal Employees Retirement System of Michigan now owns 19,030 shares of the communications equipment provider’s stock worth $100,000 after buying an additional 1,010 shares in the last quarter. Sei Investments Co. acquired a new stake in shares of Harmonic during the second quarter worth approximately $142,000. Louisiana State Employees Retirement System increased its holdings in shares of Harmonic by 0.9% during the second quarter. Louisiana State Employees Retirement System now owns 32,800 shares of the communications equipment provider’s stock worth $172,000 after buying an additional 300 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Harmonic by 36.3% during the second quarter. BNP Paribas Arbitrage SA now owns 35,456 shares of the communications equipment provider’s stock worth $186,000 after buying an additional 9,437 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Harmonic by 1.2% during the second quarter. Arizona State Retirement System now owns 42,018 shares of the communications equipment provider’s stock worth $221,000 after buying an additional 500 shares in the last quarter. 99.86% of the stock is owned by institutional investors.

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Shares of Harmonic Inc. (HLIT) opened at $3.80 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.20. Harmonic Inc. has a fifty-two week low of $2.80 and a fifty-two week high of $6.18.

Harmonic (NASDAQ:HLIT) last issued its quarterly earnings results on Monday, October 30th. The communications equipment provider reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.07. The business had revenue of $92.00 million during the quarter, compared to analyst estimates of $85.63 million. Harmonic had a negative net margin of 22.02% and a negative return on equity of 13.06%. Harmonic’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.01) earnings per share. analysts forecast that Harmonic Inc. will post -0.51 EPS for the current fiscal year.

Several research firms have recently weighed in on HLIT. TheStreet lowered shares of Harmonic from a “c-” rating to a “d+” rating in a report on Wednesday, August 9th. ValuEngine lowered shares of Harmonic from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Zacks Investment Research lowered shares of Harmonic from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Jefferies Group LLC reaffirmed a “hold” rating and set a $4.00 price objective (up previously from $3.50) on shares of Harmonic in a report on Tuesday, August 1st. Finally, BidaskClub lowered shares of Harmonic from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $5.06.

Harmonic Profile

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.

Institutional Ownership by Quarter for Harmonic (NASDAQ:HLIT)

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