New York State Teachers Retirement System Decreases Position in Harmonic Inc. (NASDAQ:HLIT)

New York State Teachers Retirement System reduced its stake in shares of Harmonic Inc. (NASDAQ:HLIT) by 6.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 213,892 shares of the communications equipment provider’s stock after selling 14,535 shares during the quarter. New York State Teachers Retirement System owned 0.19% of Harmonic worth $2,789,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HLIT. Trigran Investments Inc. raised its stake in shares of Harmonic by 38.5% during the third quarter. Trigran Investments Inc. now owns 9,636,809 shares of the communications equipment provider’s stock valued at $92,802,000 after purchasing an additional 2,677,338 shares during the period. Scopia Capital Management LP increased its stake in Harmonic by 78.5% during the 3rd quarter. Scopia Capital Management LP now owns 5,649,163 shares of the communications equipment provider’s stock worth $54,401,000 after buying an additional 2,484,825 shares during the period. Millennium Management LLC lifted its holdings in Harmonic by 276.3% in the 2nd quarter. Millennium Management LLC now owns 1,837,589 shares of the communications equipment provider’s stock worth $15,932,000 after buying an additional 1,349,242 shares in the last quarter. FMR LLC boosted its position in Harmonic by 841.8% in the 1st quarter. FMR LLC now owns 1,411,463 shares of the communications equipment provider’s stock valued at $20,593,000 after buying an additional 1,261,597 shares during the last quarter. Finally, Toronado Partners LLC grew its stake in shares of Harmonic by 149.5% during the third quarter. Toronado Partners LLC now owns 2,011,532 shares of the communications equipment provider’s stock valued at $19,371,000 after acquiring an additional 1,205,380 shares in the last quarter. 99.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on HLIT shares. Rosenblatt Securities cut their price target on Harmonic from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, January 30th. Raymond James decreased their price target on shares of Harmonic from $19.00 to $18.00 and set a “strong-buy” rating for the company in a research report on Tuesday, January 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price target on shares of Harmonic in a report on Tuesday, April 9th. StockNews.com raised shares of Harmonic from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. Finally, TheStreet raised shares of Harmonic from a “c” rating to a “b” rating in a research report on Monday, January 29th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Harmonic currently has an average rating of “Buy” and a consensus price target of $17.20.

Harmonic Stock Down 2.2 %

Shares of NASDAQ:HLIT opened at $10.33 on Tuesday. The company’s fifty day moving average is $12.94 and its two-hundred day moving average is $11.75. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.91 and a current ratio of 1.21. Harmonic Inc. has a 1-year low of $8.80 and a 1-year high of $18.43. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 14.55 and a beta of 0.84.

Harmonic (NASDAQ:HLIT) last issued its earnings results on Monday, January 29th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The firm had revenue of $167.10 million for the quarter, compared to analysts’ expectations of $158.98 million. Harmonic had a net margin of 13.82% and a return on equity of 4.71%. Harmonic’s revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the company posted $0.12 earnings per share. Equities analysts anticipate that Harmonic Inc. will post 0.32 EPS for the current year.

Insider Buying and Selling

In other Harmonic news, SVP Neven Haltmayer sold 24,695 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $11.58, for a total value of $285,968.10. Following the sale, the senior vice president now directly owns 181,864 shares in the company, valued at $2,105,985.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Neven Haltmayer sold 24,695 shares of Harmonic stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $11.58, for a total transaction of $285,968.10. Following the sale, the senior vice president now directly owns 181,864 shares in the company, valued at $2,105,985.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Nimrod Ben-Natan sold 100,000 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $12.91, for a total transaction of $1,291,000.00. Following the completion of the transaction, the senior vice president now owns 302,214 shares of the company’s stock, valued at approximately $3,901,582.74. The disclosure for this sale can be found here. Insiders sold a total of 150,000 shares of company stock worth $1,917,122 in the last three months. 2.20% of the stock is owned by insiders.

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.