Teachers Retirement System of The State of Kentucky trimmed its holdings in shares of Harmonic Inc. (NASDAQ:HLIT) by 19.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,500 shares of the communications equipment provider’s stock after selling 5,600 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Harmonic were worth $123,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of HLIT. Municipal Employees Retirement System of Michigan raised its stake in shares of Harmonic by 5.6% during the second quarter. Municipal Employees Retirement System of Michigan now owns 19,030 shares of the communications equipment provider’s stock worth $100,000 after buying an additional 1,010 shares during the last quarter. Sei Investments Co. bought a new stake in shares of Harmonic during the second quarter worth approximately $142,000. Louisiana State Employees Retirement System raised its stake in shares of Harmonic by 0.9% during the second quarter. Louisiana State Employees Retirement System now owns 32,800 shares of the communications equipment provider’s stock worth $172,000 after buying an additional 300 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Harmonic by 36.3% during the second quarter. BNP Paribas Arbitrage SA now owns 35,456 shares of the communications equipment provider’s stock worth $186,000 after buying an additional 9,437 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Harmonic by 1.2% during the second quarter. Arizona State Retirement System now owns 42,018 shares of the communications equipment provider’s stock worth $221,000 after buying an additional 500 shares during the last quarter. 99.08% of the stock is owned by institutional investors and hedge funds.

In other Harmonic news, insider Patrick Harshman sold 7,979 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $3.47, for a total transaction of $27,687.13. Following the completion of the transaction, the insider now owns 570,733 shares in the company, valued at approximately $1,980,443.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.53% of the stock is currently owned by company insiders.

HLIT has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Harmonic from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 4th. BidaskClub downgraded shares of Harmonic from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Jefferies Group LLC reissued a “hold” rating and set a $4.00 price target (up from $3.50) on shares of Harmonic in a research note on Tuesday, August 1st. ValuEngine downgraded shares of Harmonic from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Finally, TheStreet downgraded shares of Harmonic from a “c-” rating to a “d+” rating in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $5.15.

Shares of Harmonic Inc. (NASDAQ HLIT) opened at 2.95 on Tuesday. Harmonic Inc. has a 52 week low of $2.80 and a 52 week high of $6.18. The firm has a 50-day moving average of $3.03 and a 200 day moving average of $4.26. The company’s market cap is $239.75 million.

Harmonic (NASDAQ:HLIT) last released its quarterly earnings results on Monday, October 30th. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.07. Harmonic had a negative net margin of 21.58% and a negative return on equity of 13.22%. The firm had revenue of $92.00 million during the quarter, compared to analyst estimates of $85.63 million. During the same quarter last year, the business earned ($0.01) EPS. The company’s revenue was down 9.3% compared to the same quarter last year. Equities analysts anticipate that Harmonic Inc. will post ($0.42) earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Teachers Retirement System of The State of Kentucky Sells 5,600 Shares of Harmonic Inc. (HLIT)” was posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this article on another domain, it was illegally copied and republished in violation of U.S. & international copyright laws. The legal version of this article can be accessed at https://theolympiareport.com/2017/10/31/teachers-retirement-system-of-the-state-of-kentucky-sells-5600-shares-of-harmonic-inc-hlit.html.

Harmonic Profile

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)

Receive News & Ratings for Harmonic Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harmonic Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.