Metropolitan Life Insurance Co. NY increased its position in shares of Harmonic Inc. (NASDAQ:HLIT) by 9.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 59,501 shares of the communications equipment provider’s stock after buying an additional 4,889 shares during the period. Metropolitan Life Insurance Co. NY owned 0.07% of Harmonic worth $354,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Texas Permanent School Fund boosted its position in shares of Harmonic by 1.1% in the first quarter. Texas Permanent School Fund now owns 57,756 shares of the communications equipment provider’s stock worth $344,000 after buying an additional 613 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of Harmonic by 3.2% in the first quarter. Louisiana State Employees Retirement System now owns 32,500 shares of the communications equipment provider’s stock worth $193,000 after buying an additional 1,000 shares during the period. Arizona State Retirement System boosted its position in shares of Harmonic by 3.0% in the first quarter. Arizona State Retirement System now owns 41,518 shares of the communications equipment provider’s stock worth $247,000 after buying an additional 1,200 shares during the period. Prudential Financial Inc. boosted its position in shares of Harmonic by 1.0% in the first quarter. Prudential Financial Inc. now owns 132,054 shares of the communications equipment provider’s stock worth $786,000 after buying an additional 1,360 shares during the period. Finally, Mason Street Advisors LLC boosted its position in shares of Harmonic by 9.0% in the first quarter. Mason Street Advisors LLC now owns 18,654 shares of the communications equipment provider’s stock worth $111,000 after buying an additional 1,534 shares during the period. 97.27% of the stock is owned by institutional investors.

Shares of Harmonic Inc. (NASDAQ HLIT) traded down 1.47% on Friday, hitting $3.35. 571,121 shares of the stock were exchanged. The company’s market cap is $272.26 million. The firm’s 50-day moving average is $4.28 and its 200-day moving average is $5.18. Harmonic Inc. has a one year low of $3.25 and a one year high of $6.18.

Harmonic (NASDAQ:HLIT) last released its earnings results on Monday, July 31st. The communications equipment provider reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. Harmonic had a negative net margin of 21.58% and a negative return on equity of 13.22%. The business had revenue of $82.30 million for the quarter, compared to the consensus estimate of $80.88 million. The firm’s revenue was down 24.9% compared to the same quarter last year. On average, equities analysts forecast that Harmonic Inc. will post ($0.42) EPS for the current fiscal year.

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A number of brokerages have issued reports on HLIT. BidaskClub cut shares of Harmonic from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $4.00 target price (down from $4.75) on shares of Harmonic in a report on Tuesday, May 2nd. Zacks Investment Research raised shares of Harmonic from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 4th. ValuEngine cut shares of Harmonic from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Finally, TheStreet cut shares of Harmonic from a “c-” rating to a “d+” rating in a report on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $5.67.

In related news, insider Patrick Harshman sold 7,979 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $3.47, for a total value of $27,687.13. Following the sale, the insider now directly owns 570,733 shares in the company, valued at approximately $1,980,443.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.27% of the stock is owned by insiders.

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.

Institutional Ownership by Quarter for Harmonic (NASDAQ:HLIT)

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