Algert Global LLC raised its position in Harmonic Inc (NASDAQ:HLIT) by 101.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 232,054 shares of the communications equipment provider’s stock after buying an additional 117,123 shares during the quarter. Algert Global LLC’s holdings in Harmonic were worth $1,276,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Manatuck Hill Partners LLC bought a new stake in Harmonic in the 2nd quarter valued at approximately $128,000. SG Americas Securities LLC bought a new stake in Harmonic in the 2nd quarter valued at approximately $138,000. Metropolitan Life Insurance Co. NY lifted its stake in Harmonic by 112.4% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 36,235 shares of the communications equipment provider’s stock valued at $154,000 after acquiring an additional 19,174 shares in the last quarter. Laurion Capital Management LP bought a new stake in Harmonic in the 2nd quarter valued at approximately $213,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Harmonic in the 2nd quarter valued at approximately $253,000. Hedge funds and other institutional investors own 86.72% of the company’s stock.

Several research firms have commented on HLIT. Zacks Investment Research upgraded Harmonic from a “hold” rating to a “buy” rating and set a $6.25 target price on the stock in a research note on Saturday, November 3rd. BidaskClub cut Harmonic from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. ValuEngine cut Harmonic from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 1st. Finally, Loop Capital began coverage on Harmonic in a research note on Thursday, September 20th. They issued a “buy” rating and a $8.25 target price on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Harmonic has an average rating of “Buy” and a consensus target price of $7.17.

NASDAQ HLIT opened at $5.09 on Friday. The company has a market capitalization of $475.10 million, a price-to-earnings ratio of -9.43 and a beta of 0.66. Harmonic Inc has a 52 week low of $2.90 and a 52 week high of $6.32. The company has a current ratio of 1.36, a quick ratio of 1.19 and a debt-to-equity ratio of 0.57.

Harmonic (NASDAQ:HLIT) last posted its quarterly earnings results on Monday, October 29th. The communications equipment provider reported $0.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.03. The firm had revenue of $101.40 million for the quarter, compared to analyst estimates of $99.46 million. Harmonic had a negative return on equity of 5.97% and a negative net margin of 9.26%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.01) EPS. As a group, equities analysts expect that Harmonic Inc will post -0.04 EPS for the current year.

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Harmonic Company Profile

Harmonic Inc designs, manufactures, and sells video infrastructure products and system solutions worldwide. Its products enable customers to create, prepare, and deliver a range of video and broadband services to consumer devices, including televisions, personal computers, laptops, tablets, and smart phones.

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Institutional Ownership by Quarter for Harmonic (NASDAQ:HLIT)

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