Axa held its stake in Harmonic Inc. (NASDAQ:HLIT) during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 149,866 shares of the communications equipment provider’s stock at the end of the second quarter. Axa owned 0.19% of Harmonic worth $787,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Louisiana State Employees Retirement System increased its holdings in Harmonic by 0.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 32,800 shares of the communications equipment provider’s stock valued at $172,000 after purchasing an additional 300 shares during the period. Arizona State Retirement System increased its holdings in Harmonic by 1.2% during the 2nd quarter. Arizona State Retirement System now owns 42,018 shares of the communications equipment provider’s stock valued at $221,000 after purchasing an additional 500 shares during the period. Texas Permanent School Fund increased its holdings in Harmonic by 1.1% during the 1st quarter. Texas Permanent School Fund now owns 57,756 shares of the communications equipment provider’s stock valued at $344,000 after purchasing an additional 613 shares during the period. Municipal Employees Retirement System of Michigan increased its holdings in Harmonic by 5.6% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 19,030 shares of the communications equipment provider’s stock valued at $100,000 after purchasing an additional 1,010 shares during the period. Finally, Prudential Financial Inc. increased its holdings in Harmonic by 1.0% during the 1st quarter. Prudential Financial Inc. now owns 132,054 shares of the communications equipment provider’s stock valued at $786,000 after purchasing an additional 1,360 shares during the period. Institutional investors own 99.08% of the company’s stock.

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Harmonic Inc. (NASDAQ HLIT) opened at 3.00 on Monday. The stock’s market cap is $243.82 million. Harmonic Inc. has a one year low of $2.80 and a one year high of $6.18. The company’s 50-day moving average price is $3.35 and its 200-day moving average price is $4.82.

Harmonic (NASDAQ:HLIT) last posted its quarterly earnings data on Monday, July 31st. The communications equipment provider reported ($0.22) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.02. Harmonic had a negative net margin of 21.58% and a negative return on equity of 13.22%. The company had revenue of $82.30 million for the quarter, compared to analyst estimates of $80.88 million. The firm’s revenue for the quarter was down 24.9% compared to the same quarter last year. Analysts forecast that Harmonic Inc. will post ($0.42) EPS for the current fiscal year.

HLIT has been the topic of a number of research analyst reports. ValuEngine downgraded Harmonic from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Jefferies Group LLC restated a “hold” rating and set a $4.00 price target (up previously from $3.50) on shares of Harmonic in a report on Tuesday, August 1st. TheStreet downgraded Harmonic from a “c-” rating to a “d+” rating in a report on Wednesday, August 9th. Zacks Investment Research upgraded Harmonic from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 4th. Finally, BidaskClub downgraded Harmonic from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $5.50.

In related news, insider Patrick Harshman sold 7,979 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $3.47, for a total value of $27,687.13. Following the sale, the insider now directly owns 570,733 shares of the company’s stock, valued at approximately $1,980,443.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.53% of the company’s stock.

Harmonic Profile

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.

Institutional Ownership by Quarter for Harmonic (NASDAQ:HLIT)

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