Teacher Retirement System of Texas Has $107,000 Position in Harmonic Inc. (NASDAQ:HLIT)

Teacher Retirement System of Texas increased its position in Harmonic Inc. (NASDAQ:HLIT) by 18.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,542 shares of the communications equipment provider’s stock after buying an additional 1,914 shares during the quarter. Teacher Retirement System of Texas’ holdings in Harmonic were worth $107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new position in shares of Harmonic in the first quarter valued at approximately $41,000. Quantbot Technologies LP acquired a new stake in Harmonic during the 1st quarter valued at approximately $58,000. Paloma Partners Management Co acquired a new stake in Harmonic during the 1st quarter valued at approximately $78,000. US Bancorp DE increased its position in Harmonic by 38.2% during the 1st quarter. US Bancorp DE now owns 13,035 shares of the communications equipment provider’s stock valued at $102,000 after purchasing an additional 3,601 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Harmonic during the 1st quarter valued at approximately $108,000. 91.12% of the stock is owned by institutional investors.

In other Harmonic news, CEO Patrick Harshman sold 170,003 shares of the firm’s stock in a transaction on Tuesday, September 14th. The stock was sold at an average price of $8.95, for a total transaction of $1,521,526.85. Following the transaction, the chief executive officer now directly owns 1,192,298 shares in the company, valued at approximately $10,671,067.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Nimrod Ben-Natan sold 60,000 shares of the firm’s stock in a transaction on Monday, August 9th. The shares were sold at an average price of $9.83, for a total value of $589,800.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 330,003 shares of company stock worth $3,007,327. 3.78% of the stock is owned by company insiders.

A number of analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Harmonic from a “buy” rating to a “hold” rating in a research report on Thursday, August 5th. Barclays increased their target price on shares of Harmonic from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 3rd. Raymond James increased their target price on shares of Harmonic from $9.00 to $11.00 and gave the company an “outperform” rating in a research report on Tuesday, August 3rd. Finally, Needham & Company LLC increased their price target on Harmonic from $9.50 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, August 3rd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Harmonic has an average rating of “Buy” and an average target price of $10.63.

Harmonic stock opened at $8.77 on Tuesday. The stock has a market capitalization of $892.84 million, a price-to-earnings ratio of -876.12, a PEG ratio of 8.88 and a beta of 0.79. Harmonic Inc. has a 52-week low of $5.20 and a 52-week high of $10.75. The stock’s 50 day moving average price is $9.07 and its two-hundred day moving average price is $8.23. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.38 and a current ratio of 1.62.

Harmonic (NASDAQ:HLIT) last issued its earnings results on Monday, August 2nd. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.09. Harmonic had a positive return on equity of 4.84% and a negative net margin of 0.01%. The company had revenue of $113.45 million for the quarter, compared to analysts’ expectations of $107.59 million. During the same period last year, the business earned ($0.06) EPS. Harmonic’s quarterly revenue was up 53.3% compared to the same quarter last year. On average, equities research analysts forecast that Harmonic Inc. will post 0.07 EPS for the current year.

Harmonic Company Profile

Harmonic, Inc engages in the development and sale of video delivery software, products, system solutions, and services. It operates through the Video and Cable Access segments. The Video segment sells video processing and production and playout services to cable operators, satellite and telecommunications pay-TV service providers, and broadcast and media companies.

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Institutional Ownership by Quarter for Harmonic (NASDAQ:HLIT)

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