JPMorgan Chase & Co. Has $419,000 Holdings in Harmonic Inc (HLIT)

JPMorgan Chase & Co. grew its position in shares of Harmonic Inc (NASDAQ:HLIT) by 18.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 139,888 shares of the communications equipment provider’s stock after purchasing an additional 21,554 shares during the quarter. JPMorgan Chase & Co. owned about 0.17% of Harmonic worth $419,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its holdings in Harmonic by 41.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 49,992 shares of the communications equipment provider’s stock worth $152,000 after purchasing an additional 14,536 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Harmonic during the 3rd quarter worth approximately $190,000. Voya Investment Management LLC raised its holdings in Harmonic by 12.1% during the 2nd quarter. Voya Investment Management LLC now owns 43,910 shares of the communications equipment provider’s stock worth $231,000 after purchasing an additional 4,742 shares during the last quarter. Thrivent Financial For Lutherans grew its position in shares of Harmonic by 7.3% during the 2nd quarter. Thrivent Financial For Lutherans now owns 48,530 shares of the communications equipment provider’s stock worth $255,000 after buying an additional 3,300 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Harmonic by 7.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 67,464 shares of the communications equipment provider’s stock worth $354,000 after buying an additional 4,942 shares during the period. Hedge funds and other institutional investors own 95.98% of the company’s stock.

In related news, SVP Bart Spriester sold 8,004 shares of Harmonic stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $3.81, for a total value of $30,495.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Neven Haltmayer sold 8,311 shares of Harmonic stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $3.81, for a total transaction of $31,664.91. The disclosure for this sale can be found here. In the last three months, insiders sold 25,933 shares of company stock valued at $98,389. 4.27% of the stock is currently owned by insiders.

Shares of Harmonic Inc (NASDAQ:HLIT) opened at $4.00 on Thursday. The company has a market cap of $318.31, a P/E ratio of -3.96 and a beta of 1.05. Harmonic Inc has a 52-week low of $2.80 and a 52-week high of $6.18. The company has a current ratio of 1.20, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56.

Harmonic (NASDAQ:HLIT) last announced its quarterly earnings data on Monday, October 30th. The communications equipment provider reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.07. Harmonic had a negative net margin of 22.02% and a negative return on equity of 13.06%. The company had revenue of $92.00 million during the quarter, compared to the consensus estimate of $85.63 million. During the same quarter last year, the firm posted ($0.01) EPS. The company’s quarterly revenue was down 9.3% on a year-over-year basis. research analysts expect that Harmonic Inc will post -0.51 earnings per share for the current year.

Several brokerages have recently commented on HLIT. ValuEngine downgraded shares of Harmonic from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Zacks Investment Research downgraded shares of Harmonic from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. BidaskClub downgraded shares of Harmonic from a “hold” rating to a “sell” rating in a research report on Thursday, December 21st. Dougherty & Co reaffirmed a “buy” rating and set a $6.50 price objective on shares of Harmonic in a research report on Monday, October 23rd. Finally, Northland Securities set a $6.00 price objective on shares of Harmonic and gave the stock a “buy” rating in a research report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Harmonic currently has a consensus rating of “Hold” and an average target price of $5.06.

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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.

Institutional Ownership by Quarter for Harmonic (NASDAQ:HLIT)

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