Dimensional Fund Advisors LP reduced its position in shares of Harmonic Inc (NASDAQ:HLIT) by 6.9% in the 3rd quarter, Holdings Channel reports. The firm owned 6,173,906 shares of the communications equipment provider’s stock after selling 455,536 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.08% of Harmonic worth $18,830,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Ameriprise Financial Inc. raised its holdings in Harmonic by 0.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 432,525 shares of the communications equipment provider’s stock worth $2,271,000 after purchasing an additional 1,365 shares during the last quarter. Thrivent Financial For Lutherans raised its holdings in 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 purchasing an additional 3,300 shares during the last quarter. 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. The Manufacturers Life Insurance Company raised its holdings in 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 purchasing an additional 4,942 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Harmonic by 1.1% during the 2nd quarter. Principal Financial Group Inc. now owns 625,250 shares of the communications equipment provider’s stock worth $3,283,000 after purchasing an additional 6,840 shares during the last quarter. 95.98% of the stock is owned by hedge funds and other institutional investors.

Harmonic Inc (NASDAQ:HLIT) opened at $3.82 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.20 and a quick ratio of 0.99. Harmonic Inc has a 12-month low of $2.80 and a 12-month high of $6.18. The stock has a market capitalization of $322.39, a P/E ratio of -3.78 and a beta of 1.05.

Harmonic (NASDAQ:HLIT) last issued its quarterly earnings data on Monday, October 30th. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.07. Harmonic had a negative return on equity of 13.06% and a negative net margin of 22.02%. The business had revenue of $92.00 million during the quarter, compared to analyst estimates of $85.63 million. During the same period in the previous year, the firm earned ($0.01) EPS. Harmonic’s quarterly revenue was down 9.3% compared to the same quarter last year. research analysts anticipate that Harmonic Inc will post -0.51 earnings per share for the current fiscal year.

In related news, SVP Bart Spriester sold 8,004 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $3.81, for a total value of $30,495.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Neven Haltmayer sold 8,311 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $3.81, for a total value of $31,664.91. The disclosure for this sale can be found here. Insiders sold a total of 25,933 shares of company stock valued at $98,389 over the last quarter. 5.53% of the stock is owned by insiders.

Several analysts have weighed in on HLIT shares. Zacks Investment Research cut Harmonic from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Northland Securities set a $6.00 price objective on Harmonic and gave the stock a “buy” rating in a report on Tuesday, October 17th. ValuEngine raised Harmonic from a “sell” rating to a “hold” rating in a report on Friday, December 1st. BidaskClub cut Harmonic from a “hold” rating to a “sell” rating in a report on Thursday, December 21st. Finally, Dougherty & Co reissued a “buy” rating and set a $6.50 price objective on shares of Harmonic in a report on Monday, October 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Harmonic presently 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.

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Institutional Ownership by Quarter for Harmonic (NASDAQ:HLIT)

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