Mutual of America Capital Management LLC Decreases Holdings in Harmonic Inc. (NASDAQ:HLIT)

Mutual of America Capital Management LLC trimmed its holdings in shares of Harmonic Inc. (NASDAQ:HLIT) by 1.5% in the third quarter, Holdings Channel reports. The firm owned 275,914 shares of the communications equipment provider’s stock after selling 4,082 shares during the period. Mutual of America Capital Management LLC’s holdings in Harmonic were worth $4,020,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in HLIT. Clearline Capital LP boosted its position in Harmonic by 777.6% during the 2nd quarter. Clearline Capital LP now owns 1,570,461 shares of the communications equipment provider’s stock worth $18,484,000 after purchasing an additional 1,391,504 shares during the period. Jane Street Group LLC boosted its position in Harmonic by 1,276.3% during the 1st quarter. Jane Street Group LLC now owns 1,203,297 shares of the communications equipment provider’s stock worth $16,172,000 after purchasing an additional 1,115,870 shares during the period. Marshall Wace LLP boosted its position in Harmonic by 1,952.4% during the 2nd quarter. Marshall Wace LLP now owns 978,127 shares of the communications equipment provider’s stock worth $11,513,000 after purchasing an additional 930,469 shares during the period. Point72 Asset Management L.P. purchased a new stake in Harmonic during the 2nd quarter worth $7,687,000. Finally, Assenagon Asset Management S.A. boosted its position in Harmonic by 117.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,187,528 shares of the communications equipment provider’s stock valued at $17,302,000 after buying an additional 642,033 shares during the last quarter. 99.38% of the stock is owned by hedge funds and other institutional investors.

Harmonic Stock Performance

Shares of Harmonic stock opened at $12.39 on Friday. The firm has a market cap of $1.44 billion, a PE ratio of 16.82 and a beta of 0.89. The firm’s 50-day simple moving average is $13.31 and its 200-day simple moving average is $12.77. 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 Inc. has a 1 year low of $9.10 and a 1 year high of $15.46.

Harmonic (NASDAQ:HLIT) last issued its earnings results on Monday, October 28th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.09. Harmonic had a net margin of 13.62% and a return on equity of 7.56%. The firm had revenue of $195.80 million for the quarter, compared to analysts’ expectations of $181.77 million. During the same quarter last year, the company posted ($0.05) earnings per share. Harmonic’s revenue was up 53.9% on a year-over-year basis. Equities analysts forecast that Harmonic Inc. will post 0.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on HLIT shares. Barclays decreased their price objective on shares of Harmonic from $20.00 to $17.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of Harmonic in a research report on Tuesday, October 29th. Northland Securities decreased their price objective on shares of Harmonic from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th. Rosenblatt Securities decreased their price objective on shares of Harmonic from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Finally, Raymond James cut shares of Harmonic from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $17.00 to $14.00 in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus 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.