Olstein Capital Management L.P. held its position in shares of Harmonic Inc. (NASDAQ:HLIT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 649,401 shares of the communications equipment provider’s stock at the end of the second quarter. Olstein Capital Management L.P. owned approximately 0.81% of Harmonic worth $3,409,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. State of Tennessee Treasury Department raised its position in shares of Harmonic by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 74,196 shares of the communications equipment provider’s stock worth $441,000 after buying an additional 11,197 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Harmonic by 8.6% in the first quarter. Parametric Portfolio Associates LLC now owns 379,957 shares of the communications equipment provider’s stock worth $2,261,000 after buying an additional 30,108 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Harmonic by 7.5% in the first quarter. Ameriprise Financial Inc. now owns 431,160 shares of the communications equipment provider’s stock worth $2,565,000 after buying an additional 30,105 shares in the last quarter. Texas Permanent School Fund raised its position in shares of Harmonic by 1.1% in the first quarter. Texas Permanent School Fund now owns 57,756 shares of the communications equipment provider’s stock worth $344,000 after buying an additional 613 shares in the last quarter. Finally, Tdam USA Inc. raised its position in shares of Harmonic by 1.8% in the first quarter. Tdam USA Inc. now owns 175,983 shares of the communications equipment provider’s stock worth $1,047,000 after buying an additional 3,145 shares in the last quarter. Hedge funds and other institutional investors own 97.27% of the company’s stock.

Shares of Harmonic Inc. (NASDAQ:HLIT) opened at 3.55 on Wednesday. The company’s 50-day moving average is $4.44 and its 200-day moving average is $5.22. The stock’s market cap is $288.52 million. Harmonic Inc. has a 1-year low of $3.45 and a 1-year high of $6.18.

Harmonic (NASDAQ:HLIT) last announced its earnings results on Monday, July 31st. The communications equipment provider reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.02. Harmonic had a negative net margin of 21.58% and a negative return on equity of 13.22%. The company had revenue of $82.30 million for the quarter, compared to analysts’ expectations of $80.88 million. The business’s revenue for the quarter was down 24.9% on a year-over-year basis. Equities analysts expect that Harmonic Inc. will post ($0.42) EPS for the current fiscal year.

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A number of brokerages recently weighed in on HLIT. Zacks Investment Research upgraded shares of Harmonic from a “sell” rating to a “hold” rating in a research report on Wednesday, May 3rd. Jefferies Group LLC restated a “hold” rating and set a $4.00 target price (down previously from $4.75) on shares of Harmonic in a research report on Tuesday, May 2nd. BidaskClub lowered shares of Harmonic from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. ValuEngine lowered shares of Harmonic from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Finally, TheStreet lowered shares of Harmonic from a “c-” rating to a “d+” rating in a research report on Wednesday, August 9th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $5.67.

Harmonic Company 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)

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