Harmonic Inc. (HLIT) Shares Sold by Swiss National Bank
Swiss National Bank lowered its stake in shares of Harmonic Inc. (NASDAQ:HLIT) by 8.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,600 shares of the company’s stock after selling 14,100 shares during the period. Swiss National Bank owned 0.19% of Harmonic worth $409,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in HLIT. JPMorgan Chase & Co. raised its position in Harmonic by 17.6% in the first quarter. JPMorgan Chase & Co. now owns 697,561 shares of the company’s stock valued at $2,281,000 after buying an additional 104,400 shares in the last quarter. Royce & Associates LP raised its position in Harmonic by 63.2% in the first quarter. Royce & Associates LP now owns 1,786,757 shares of the company’s stock valued at $5,843,000 after buying an additional 692,000 shares in the last quarter. Menta Capital LLC acquired a new position in Harmonic during the first quarter valued at approximately $346,000. AXA acquired a new position in Harmonic during the first quarter valued at approximately $875,000. Finally, RGM Capital LLC raised its position in Harmonic by 8.0% in the first quarter. RGM Capital LLC now owns 6,815,490 shares of the company’s stock valued at $22,287,000 after buying an additional 502,532 shares in the last quarter. 94.61% of the stock is currently owned by institutional investors.
Shares of Harmonic Inc. (NASDAQ:HLIT) traded down 1.80% during midday trading on Wednesday, reaching $5.45. 101,591 shares of the company’s stock traded hands. Harmonic Inc. has a one year low of $2.51 and a one year high of $6.13. The company has a 50-day moving average of $5.17 and a 200-day moving average of $3.72. The company’s market capitalization is $425.26 million.
Several equities analysts recently commented on HLIT shares. Drexel Hamilton reaffirmed a “hold” rating on shares of Harmonic in a report on Tuesday, June 28th. Zacks Investment Research raised shares of Harmonic from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 12th. Jefferies Group reaffirmed a “hold” rating and set a $3.50 target price on shares of Harmonic in a report on Wednesday, August 10th. Finally, TheStreet raised shares of Harmonic from a “sell” rating to a “hold” rating in a report on Tuesday, August 30th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Harmonic presently has a consensus rating of “Buy” and a consensus 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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