Public Sector Pension investment Board decreased its position in Harmonic Inc. (NASDAQ:HLIT) by 23.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,200 shares of the communications equipment provider’s stock after selling 12,400 shares during the quarter. Public Sector Pension investment Board owned about 0.05% of Harmonic worth $216,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Royce & Associates LP grew its stake in shares of Harmonic by 3.1% in the 2nd quarter. Royce & Associates LP now owns 1,170,499 shares of the communications equipment provider’s stock valued at $6,145,000 after buying an additional 35,000 shares in the last quarter. OppenheimerFunds Inc. grew its stake in shares of Harmonic by 20.1% in the 1st quarter. OppenheimerFunds Inc. now owns 53,215 shares of the communications equipment provider’s stock valued at $317,000 after buying an additional 8,912 shares in the last quarter. Menta Capital LLC grew its stake in shares of Harmonic by 17.2% in the 1st quarter. Menta Capital LLC now owns 164,311 shares of the communications equipment provider’s stock valued at $978,000 after buying an additional 24,100 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Harmonic by 7.5% in the 1st quarter. Ameriprise Financial Inc. now owns 431,160 shares of the communications equipment provider’s stock valued at $2,565,000 after buying an additional 30,105 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its stake in shares of Harmonic by 9.0% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 59,501 shares of the communications equipment provider’s stock valued at $354,000 after buying an additional 4,889 shares in the last quarter. 99.08% of the stock is owned by institutional investors and hedge funds.

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Several equities research analysts recently commented on the company. ValuEngine cut Harmonic from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. BidaskClub cut Harmonic from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Zacks Investment Research raised Harmonic from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Jefferies Group LLC reissued a “hold” rating and issued a $4.00 price target (up previously from $3.50) on shares of Harmonic in a research note on Tuesday, August 1st. Finally, TheStreet cut Harmonic from a “c-” rating to a “d+” rating in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $5.06.

Shares of Harmonic Inc. (HLIT) opened at 3.15 on Friday. The company’s market cap is $256.01 million. The firm’s 50-day moving average price is $3.08 and its 200-day moving average price is $4.48. Harmonic Inc. has a 12 month low of $2.80 and a 12 month high of $6.18.

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

In other Harmonic news, insider Patrick Harshman sold 7,979 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $3.47, for a total transaction of $27,687.13. Following the transaction, the insider now owns 570,733 shares of the company’s stock, valued at approximately $1,980,443.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.27% of the stock is owned by insiders.

About Harmonic

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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Institutional Ownership by Quarter for Harmonic (NASDAQ:HLIT)

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