Schwab Charles Investment Management Inc. Has $2.86 Million Stake in Harmonic Inc (HLIT)

Schwab Charles Investment Management Inc. raised its holdings in shares of Harmonic Inc (NASDAQ:HLIT) by 21.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 936,171 shares of the communications equipment provider’s stock after acquiring an additional 166,398 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Harmonic were worth $2,856,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in HLIT. Vanguard Group Inc. boosted its position in shares of Harmonic by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 5,803,837 shares of the communications equipment provider’s stock worth $30,470,000 after acquiring an additional 203,002 shares in the last quarter. State Street Corp boosted its position in shares of Harmonic by 7.0% during the 2nd quarter. State Street Corp now owns 1,961,470 shares of the communications equipment provider’s stock worth $10,303,000 after acquiring an additional 129,086 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Harmonic during the 3rd quarter worth about $190,000. Dimensional Fund Advisors LP boosted its position in shares of Harmonic by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,629,442 shares of the communications equipment provider’s stock worth $34,805,000 after acquiring an additional 58,240 shares in the last quarter. Finally, Epoch Investment Partners Inc. boosted its position in shares of Harmonic by 1.0% during the 2nd quarter. Epoch Investment Partners Inc. now owns 5,012,838 shares of the communications equipment provider’s stock worth $26,317,000 after acquiring an additional 52,062 shares in the last quarter. 95.98% of the stock is owned by institutional investors and hedge funds.

Shares of Harmonic Inc (HLIT) opened at $4.00 on Tuesday. Harmonic Inc has a fifty-two week low of $2.80 and a fifty-two week high of $6.18. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.20 and a quick ratio of 0.99. The firm has a market capitalization of $326.47, a PE ratio of -3.96 and a beta of 1.05.

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

Several research analysts have recently issued reports on the company. Zacks Investment Research cut Harmonic from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. BidaskClub cut Harmonic from a “hold” rating to a “sell” rating in a research report on Thursday, December 21st. ValuEngine raised Harmonic from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. Dougherty & Co reaffirmed a “buy” rating and set a $6.50 price objective on shares of Harmonic in a research report on Monday, October 23rd. Finally, Northland Securities set a $6.00 price objective on Harmonic and gave the stock a “buy” rating in a research report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Harmonic currently has an average rating of “Hold” and a consensus target price of $5.06.

In other news, insider Neven Haltmayer sold 8,311 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $3.81, for a total value of $31,664.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Bart Spriester sold 8,004 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $3.81, for a total value of $30,495.24. The disclosure for this sale can be found here. Insiders sold a total of 25,933 shares of company stock valued at $98,389 over the last three months. Company insiders own 5.53% of the company’s stock.

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Harmonic Company 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.

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Institutional Ownership by Quarter for Harmonic (NASDAQ:HLIT)

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