Barclays PLC Has $2.94 Million Holdings in Harmonic Inc. (NASDAQ:HLIT)

Barclays PLC boosted its position in Harmonic Inc. (NASDAQ:HLIT) by 414.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 201,976 shares of the communications equipment provider’s stock after buying an additional 162,727 shares during the period. Barclays PLC’s holdings in Harmonic were worth $2,944,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of HLIT. Baker Avenue Asset Management LP bought a new position in shares of Harmonic in the 3rd quarter worth about $833,000. Jane Street Group LLC increased its holdings in Harmonic by 40.3% in the third quarter. Jane Street Group LLC now owns 201,386 shares of the communications equipment provider’s stock worth $2,934,000 after purchasing an additional 57,888 shares in the last quarter. Lisanti Capital Growth LLC acquired a new position in Harmonic in the third quarter valued at approximately $2,915,000. Intech Investment Management LLC bought a new position in shares of Harmonic during the 2nd quarter worth approximately $444,000. Finally, Mutual of America Capital Management LLC boosted its holdings in shares of 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 buying an additional 36,937 shares in the last quarter. Institutional investors own 99.38% of the company’s stock.

Harmonic Price Performance

HLIT stock opened at $13.44 on Wednesday. The company has a market capitalization of $1.57 billion, a P/E ratio of 18.41 and a beta of 0.92. Harmonic Inc. has a 52-week low of $9.10 and a 52-week high of $15.46. The business has a 50-day simple moving average of $12.86 and a two-hundred day simple moving average of $13.00. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.62 and a current ratio of 2.08.

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

Wall Street Analysts Forecast Growth

HLIT has been the topic of a number of research reports. Northland Securities dropped their target price on shares of Harmonic from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. Rosenblatt Securities dropped their price objective on shares of Harmonic from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Barclays cut their price objective 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 reaffirmed a “buy” rating and issued a $18.00 target price on shares of Harmonic in a research report on Tuesday, October 29th. Finally, Jefferies Financial Group lowered Harmonic from a “buy” rating to a “hold” rating and cut their price target for the stock from $14.00 to $12.50 in a report on Tuesday, October 29th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.