Morgan Stanley boosted its stake in Harmonic Inc (NASDAQ:HLIT) by 66.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 297,110 shares of the communications equipment provider’s stock after buying an additional 118,179 shares during the quarter. Morgan Stanley’s holdings in Harmonic were worth $1,635,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. MetLife Investment Advisors LLC lifted its holdings in shares of Harmonic by 43.9% during the third quarter. MetLife Investment Advisors LLC now owns 56,889 shares of the communications equipment provider’s stock valued at $313,000 after purchasing an additional 17,351 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Harmonic by 12.4% during the third quarter. Legal & General Group Plc now owns 185,320 shares of the communications equipment provider’s stock valued at $1,018,000 after purchasing an additional 20,501 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Harmonic by 7.6% during the third quarter. Russell Investments Group Ltd. now owns 190,199 shares of the communications equipment provider’s stock valued at $1,046,000 after purchasing an additional 13,366 shares during the last quarter. Marathon Capital Management purchased a new position in shares of Harmonic during the third quarter valued at approximately $1,111,000. Finally, Algert Global LLC lifted its holdings in shares of Harmonic by 101.9% during the third quarter. Algert Global LLC now owns 232,054 shares of the communications equipment provider’s stock valued at $1,276,000 after purchasing an additional 117,123 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Several equities analysts have recently issued reports on the stock. ValuEngine lowered shares of Harmonic from a “buy” rating to a “hold” rating in a report on Tuesday, February 5th. BidaskClub lowered shares of Harmonic from a “buy” rating to a “hold” rating in a report on Tuesday, November 20th. Zacks Investment Research upgraded shares of Harmonic from a “hold” rating to a “buy” rating and set a $5.75 target price for the company in a report on Wednesday, January 30th. Stifel Nicolaus assumed coverage on shares of Harmonic in a report on Wednesday, February 20th. They set a “buy” rating and a $7.00 target price for the company. Finally, Needham & Company LLC assumed coverage on shares of Harmonic in a report on Wednesday, February 13th. They set a “buy” rating and a $7.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $7.05.

Shares of HLIT opened at $5.61 on Friday. The company has a market cap of $497.49 million, a P/E ratio of 187.00 and a beta of 0.89. The company has a quick ratio of 1.25, a current ratio of 1.44 and a debt-to-equity ratio of 0.56. Harmonic Inc has a twelve month low of $3.35 and a twelve month high of $6.32.

Harmonic (NASDAQ:HLIT) last announced its quarterly earnings results on Monday, February 4th. The communications equipment provider reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.06. The company had revenue of $113.60 million during the quarter, compared to the consensus estimate of $113.13 million. Harmonic had a negative net margin of 5.21% and a negative return on equity of 0.08%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Harmonic Inc will post -0.05 EPS for the current fiscal year.

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About Harmonic

Harmonic Inc designs, manufactures, and sells video infrastructure products and system solutions worldwide. Its products enable customers to create, prepare, and deliver a range of video and broadband services to consumer devices, including televisions, personal computers, laptops, tablets, and smart phones.

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Institutional Ownership by Quarter for Harmonic (NASDAQ:HLIT)

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