Rice Hall James & Associates LLC Trims Stock Holdings in Harmonic Inc. (NASDAQ:HLIT)

Rice Hall James & Associates LLC decreased its holdings in Harmonic Inc. (NASDAQ:HLIT) by 0.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 276,406 shares of the communications equipment provider’s stock after selling 1,778 shares during the period. Rice Hall James & Associates LLC owned 0.25% of Harmonic worth $4,027,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of HLIT. CWM LLC grew its stake in Harmonic by 780.9% during the second quarter. CWM LLC now owns 2,255 shares of the communications equipment provider’s stock valued at $27,000 after acquiring an additional 1,999 shares in the last quarter. GAMMA Investing LLC grew its stake in Harmonic by 117.6% during the third quarter. GAMMA Investing LLC now owns 2,448 shares of the communications equipment provider’s stock valued at $36,000 after acquiring an additional 1,323 shares in the last quarter. Innealta Capital LLC purchased a new position in Harmonic during the second quarter valued at approximately $47,000. SageView Advisory Group LLC purchased a new position in Harmonic during the first quarter valued at approximately $114,000. Finally, Verdence Capital Advisors LLC purchased a new position in Harmonic during the second quarter valued at approximately $140,000. Hedge funds and other institutional investors own 99.38% of the company’s stock.

Harmonic Trading Down 4.2 %

NASDAQ:HLIT opened at $11.09 on Friday. The company has a fifty day moving average of $13.95 and a 200 day moving average of $12.57. Harmonic Inc. has a 52 week low of $9.10 and a 52 week high of $15.46. The company has a quick ratio of 1.32, a current ratio of 2.08 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $1.29 billion, a P/E ratio of 15.19 and a beta of 0.87.

Harmonic (NASDAQ:HLIT) last posted its quarterly earnings results on Monday, October 28th. The communications equipment provider reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.09. The company had revenue of $195.80 million during the quarter, compared to analyst estimates of $181.77 million. Harmonic had a net margin of 13.62% and a return on equity of 7.56%. The firm’s revenue was up 53.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.05) EPS. On average, research analysts predict that Harmonic Inc. will post 0.49 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on HLIT shares. Jefferies Financial Group lowered shares of Harmonic from a “buy” rating to a “hold” rating and dropped their target price for the company from $14.00 to $12.50 in a research report on Tuesday. Rosenblatt Securities dropped their target price on shares of Harmonic from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday. Barclays dropped their target price on shares of Harmonic from $20.00 to $17.00 and set an “overweight” rating for the company in a research report on Tuesday. Northland Securities dropped their target price on shares of Harmonic from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of Harmonic in a research report on Tuesday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.25.

About Harmonic

Harmonic Inc, together with its subsidiaries, provides broadband solutions worldwide. The company operates through Broadband and Video segments. The Broadband segment sells broadband access solutions and related services, including cOS software-based broadband access solutions to broadband operators; and cOS central cloud services, a subscription service for cOS customers.