Emerald Acquisition Ltd. Takes Position in Harmonic Inc. (HLIT)
Emerald Acquisition Ltd. purchased a new position in shares of Harmonic Inc. (NASDAQ:HLIT) during the second quarter, Holdings Channel reports. The firm purchased 512,939 shares of the company’s stock, valued at approximately $1,462,000. Emerald Acquisition Ltd. owned about 0.66% of Harmonic at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Algert Global LLC raised its position in shares of Harmonic by 9.8% in the first quarter. Algert Global LLC now owns 47,643 shares of the company’s stock worth $156,000 after buying an additional 4,243 shares during the last quarter. KBC Group NV raised its position in shares of Harmonic by 5.9% in the second quarter. KBC Group NV now owns 49,051 shares of the company’s stock worth $140,000 after buying an additional 2,733 shares during the last quarter. Menta Capital LLC bought a new position in shares of Harmonic during the first quarter worth $346,000. A.R.T. Advisors LLC bought a new position in shares of Harmonic during the first quarter worth $551,000. Finally, AXA bought a new position in shares of Harmonic during the first quarter worth $875,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Harmonic Inc. (NASDAQ:HLIT) traded up 3.42% during mid-day trading on Wednesday, hitting $6.04. 372,030 shares of the stock were exchanged. The stock’s 50 day moving average price is $4.76 and its 200-day moving average price is $3.54. Harmonic Inc. has a 12-month low of $2.51 and a 12-month high of $6.31. The stock’s market capitalization is $471.30 million.
A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of Harmonic from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Jefferies Group reaffirmed a “hold” rating and issued a $3.50 price target on shares of Harmonic in a research note on Wednesday, August 10th. TheStreet raised shares of Harmonic from a “sell” rating to a “hold” rating in a research note on Tuesday, August 30th. Finally, Drexel Hamilton reissued a “hold” rating on shares of Harmonic in a research report on Tuesday, June 28th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Harmonic has a consensus rating of “Buy” and an average price target of $4.81.
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.
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