Harmonic Inc. (NASDAQ:HLIT) Shares Purchased by Captrust Financial Advisors

Captrust Financial Advisors grew its holdings in shares of Harmonic Inc. (NASDAQ:HLIT) by 14.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 12,671 shares of the communications equipment provider’s stock after buying an additional 1,647 shares during the period. Captrust Financial Advisors’ holdings in Harmonic were worth $185,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Baker Avenue Asset Management LP acquired a new stake in Harmonic during the 3rd quarter worth $833,000. Lisanti Capital Growth LLC acquired a new stake in Harmonic during the 3rd quarter worth $2,915,000. Intech Investment Management LLC acquired a new stake in Harmonic during the 2nd quarter worth $444,000. Mutual of America Capital Management LLC boosted its stake in Harmonic by 15.2% during the 2nd quarter. Mutual of America Capital Management LLC now owns 279,996 shares of the communications equipment provider’s stock worth $3,296,000 after purchasing an additional 36,937 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Harmonic by 117.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,187,528 shares of the communications equipment provider’s stock valued at $17,302,000 after acquiring an additional 642,033 shares during the last quarter. Institutional investors and hedge funds own 99.38% of the company’s stock.

Harmonic Stock Up 1.4 %

Shares of NASDAQ:HLIT opened at $13.36 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.08 and a quick ratio of 1.62. The firm has a market capitalization of $1.56 billion, a PE ratio of 18.30 and a beta of 0.92. The firm’s 50-day moving average is $12.91 and its two-hundred day moving average is $12.94. Harmonic Inc. has a 1 year low of $9.10 and a 1 year high of $15.46.

Harmonic (NASDAQ:HLIT) last issued its quarterly earnings results on Monday, October 28th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.09. The company had revenue of $195.80 million for the quarter, compared to analyst estimates of $181.77 million. Harmonic had a net margin of 13.62% and a return on equity of 7.56%. The business’s revenue for the quarter was up 53.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) earnings per share. Analysts predict that Harmonic Inc. will post 0.52 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Barclays lowered their price target on shares of Harmonic from $20.00 to $17.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Needham & Company LLC reissued a “buy” rating and set a $18.00 price target on shares of Harmonic in a research report on Tuesday, October 29th. Raymond James cut shares of Harmonic from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $17.00 to $14.00 in a research report on Tuesday, October 29th. Northland Securities reduced their price objective on shares of Harmonic from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Finally, Jefferies Financial Group lowered shares of Harmonic from a “buy” rating to a “hold” rating and reduced their price objective for the company from $14.00 to $12.50 in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.25.

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.