California Public Employees Retirement System boosted its stake in shares of Harmonic Inc. (NASDAQ:HLIT) by 33.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 325,875 shares of the company’s stock after buying an additional 81,900 shares during the period. California Public Employees Retirement System owned about 0.42% of Harmonic worth $929,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of HLIT. KBC Group NV raised its stake in Harmonic by 5.9% in the second quarter. KBC Group NV now owns 49,051 shares of the company’s stock worth $140,000 after buying an additional 2,733 shares during the last quarter. Menta Capital LLC acquired a new position in Harmonic during the first quarter valued at approximately $346,000. A.R.T. Advisors LLC acquired a new position in Harmonic during the first quarter valued at approximately $551,000. AXA acquired a new position in Harmonic during the first quarter valued at approximately $875,000. Finally, Emerald Acquisition Ltd. acquired a new position in Harmonic during the second quarter valued at approximately $1,462,000. Hedge funds and other institutional investors own 94.61% of the company’s stock.
Harmonic Inc. (NASDAQ:HLIT) traded down 0.90% during trading on Wednesday, hitting $5.50. The stock had a trading volume of 70,772 shares. The firm’s market cap is $429.17 million. Harmonic Inc. has a 52-week low of $2.51 and a 52-week high of $6.13. The company has a 50-day moving average of $5.17 and a 200 day moving average of $3.72.
Several equities analysts recently commented on the company. TheStreet upgraded Harmonic from a “sell” rating to a “hold” rating in a research report on Tuesday, August 30th. Zacks Investment Research upgraded Harmonic from a “hold” rating to a “buy” rating and set a $4.75 target price for the company in a research report on Monday, August 15th. Drexel Hamilton upgraded Harmonic from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Wednesday, August 10th. Finally, Jefferies Group restated a “hold” rating and set a $3.50 target price on shares of Harmonic in a research report on Wednesday, August 10th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Harmonic currently has a consensus rating of “Buy” and an average target price of $4.81.
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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