Marshall Wace LLP Has $11.51 Million Stock Position in Harmonic Inc. (NASDAQ:HLIT)

Marshall Wace LLP raised its position in shares of Harmonic Inc. (NASDAQ:HLIT) by 1,952.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 978,127 shares of the communications equipment provider’s stock after purchasing an additional 930,469 shares during the quarter. Marshall Wace LLP’s holdings in Harmonic were worth $11,513,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in HLIT. Public Sector Pension Investment Board boosted its stake in shares of Harmonic by 10.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 255,491 shares of the communications equipment provider’s stock valued at $3,007,000 after purchasing an additional 25,084 shares during the last quarter. Intech Investment Management LLC acquired a new position in Harmonic in the second quarter valued at $444,000. Inspire Investing LLC boosted its position in Harmonic by 11.1% during the second quarter. Inspire Investing LLC now owns 29,539 shares of the communications equipment provider’s stock valued at $348,000 after acquiring an additional 2,940 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in 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 acquiring an additional 36,937 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Harmonic by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,741,998 shares of the communications equipment provider’s stock worth $44,043,000 after acquiring an additional 294,922 shares during the period. Institutional investors and hedge funds own 99.38% of the company’s stock.

Harmonic Trading Up 0.1 %

NASDAQ HLIT opened at $14.49 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.87 and a debt-to-equity ratio of 0.30. Harmonic Inc. has a 52 week low of $8.80 and a 52 week high of $15.31. The business has a 50 day moving average price of $13.70 and a 200-day moving average price of $12.38. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 24.15 and a beta of 0.87.

Harmonic (NASDAQ:HLIT) last announced its quarterly earnings results on Monday, July 29th. The communications equipment provider reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. Harmonic had a net margin of 10.22% and a return on equity of 0.27%. The business had revenue of $138.70 million during the quarter, compared to analyst estimates of $133.67 million. During the same quarter in the previous year, the business posted $0.07 EPS. Harmonic’s quarterly revenue was down 11.1% on a year-over-year basis. As a group, equities analysts expect that Harmonic Inc. will post 0.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Harmonic news, SVP Neven Haltmayer sold 40,000 shares of Harmonic stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $14.41, for a total transaction of $576,400.00. Following the completion of the transaction, the senior vice president now owns 122,211 shares in the company, valued at approximately $1,761,060.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

HLIT has been the topic of several research analyst reports. Barclays upped their target price on Harmonic from $14.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Rosenblatt Securities reaffirmed a “buy” rating and set a $18.00 price objective on shares of Harmonic in a research report on Thursday, July 18th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of Harmonic in a research report on Tuesday, July 30th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $18.50.

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.