JPMorgan Chase & Co. Has $3.60 Million Holdings in Harmonic Inc. (NASDAQ:HLIT)

JPMorgan Chase & Co. boosted its position in Harmonic Inc. (NASDAQ:HLIT) by 18.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 246,944 shares of the communications equipment provider’s stock after buying an additional 38,137 shares during the period. JPMorgan Chase & Co. owned approximately 0.21% of Harmonic worth $3,598,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of HLIT. GAMMA Investing LLC lifted its stake in shares of Harmonic by 117.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,448 shares of the communications equipment provider’s stock valued at $36,000 after purchasing an additional 1,323 shares during the period. Dark Forest Capital Management LP lifted its stake in Harmonic by 7.2% in the second quarter. Dark Forest Capital Management LP now owns 20,192 shares of the communications equipment provider’s stock valued at $238,000 after buying an additional 1,362 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Harmonic by 14.9% during the 3rd quarter. Captrust Financial Advisors now owns 12,671 shares of the communications equipment provider’s stock worth $185,000 after buying an additional 1,647 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Harmonic by 6.0% during the 3rd quarter. Franklin Resources Inc. now owns 39,041 shares of the communications equipment provider’s stock worth $538,000 after buying an additional 2,207 shares during the period. Finally, Inspire Investing LLC increased its stake in shares of Harmonic by 11.1% in the 2nd quarter. Inspire Investing LLC now owns 29,539 shares of the communications equipment provider’s stock valued at $348,000 after acquiring an additional 2,940 shares in the last quarter. Institutional investors own 99.38% of the company’s stock.

Analyst Ratings Changes

HLIT has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price target on shares of Harmonic in a research note on Tuesday, October 29th. Jefferies Financial Group downgraded Harmonic from a “buy” rating to a “hold” rating and dropped their price target for the stock from $14.00 to $12.50 in a research note on Tuesday, October 29th. Raymond James lowered Harmonic from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $17.00 to $14.00 in a report on Tuesday, October 29th. Barclays lowered Harmonic from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $17.00 to $14.00 in a research report on Thursday, January 9th. Finally, Northland Securities reduced their price target on shares of Harmonic from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $14.75.

Harmonic Trading Down 0.2 %

Shares of Harmonic stock opened at $12.40 on Friday. The company has a market capitalization of $1.44 billion, a P/E ratio of 16.99 and a beta of 0.91. The stock has a fifty day simple moving average of $12.87 and a 200 day simple moving average of $13.19. Harmonic Inc. has a 12-month low of $9.10 and a 12-month high of $15.46. The company has a current ratio of 2.08, a quick ratio of 1.62 and a debt-to-equity ratio of 0.29.

Harmonic (NASDAQ:HLIT) last posted its earnings results on Monday, October 28th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.09. Harmonic had a net margin of 13.62% and a return on equity of 7.56%. The firm had revenue of $195.80 million during the quarter, compared to analyst estimates of $181.77 million. During the same quarter in the prior year, the business posted ($0.05) EPS. The business’s revenue was up 53.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Harmonic Inc. will post 0.52 earnings per share for the current fiscal year.

Harmonic Company Profile

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.