Harmonic Inc. (NASDAQ:HLIT) Shares Acquired by Jane Street Group LLC

Jane Street Group LLC boosted its holdings in Harmonic Inc. (NASDAQ:HLIT) by 40.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 201,386 shares of the communications equipment provider’s stock after acquiring an additional 57,888 shares during the period. Jane Street Group LLC’s holdings in Harmonic were worth $2,934,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. CWM LLC lifted its stake in shares of Harmonic by 780.9% in the 2nd quarter. CWM LLC now owns 2,255 shares of the communications equipment provider’s stock valued at $27,000 after purchasing an additional 1,999 shares during the last quarter. GAMMA Investing LLC boosted its stake in Harmonic by 117.6% during the third quarter. GAMMA Investing LLC now owns 2,448 shares of the communications equipment provider’s stock worth $36,000 after buying an additional 1,323 shares during the period. Innealta Capital LLC acquired a new stake in shares of Harmonic during the second quarter valued at about $47,000. Verdence Capital Advisors LLC purchased a new stake in shares of Harmonic in the 2nd quarter valued at approximately $140,000. Finally, Captrust Financial Advisors lifted its holdings in shares of Harmonic by 14.9% in the 3rd quarter. Captrust Financial Advisors now owns 12,671 shares of the communications equipment provider’s stock worth $185,000 after acquiring an additional 1,647 shares during the last quarter. 99.38% of the stock is currently owned by hedge funds and other institutional investors.

Harmonic Stock Up 0.5 %

HLIT stock opened at $13.32 on Friday. Harmonic Inc. has a fifty-two week low of $9.10 and a fifty-two week high of $15.46. The company’s 50 day moving average price is $12.88 and its 200 day moving average price is $12.96. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.62 and a current ratio of 2.08. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 18.25 and a beta of 0.92.

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

Analyst Ratings Changes

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

About Harmonic

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.