Two Sigma Investments LP Acquires 35,007 Shares of Harmonic Inc (HLIT)

Two Sigma Investments LP lifted its holdings in Harmonic Inc (NASDAQ:HLIT) by 18.2% in the fourth quarter, HoldingsChannel reports. The firm owned 227,107 shares of the communications equipment provider’s stock after purchasing an additional 35,007 shares during the quarter. Two Sigma Investments LP’s holdings in Harmonic were worth $954,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its stake in Harmonic by 41.0% during the third quarter. BNP Paribas Arbitrage SA now owns 49,992 shares of the communications equipment provider’s stock worth $152,000 after buying an additional 14,536 shares during the period. California Public Employees Retirement System boosted its stake in Harmonic by 7.0% during the fourth quarter. California Public Employees Retirement System now owns 252,725 shares of the communications equipment provider’s stock worth $1,061,000 after buying an additional 16,451 shares during the period. JPMorgan Chase & Co. boosted its stake in Harmonic by 18.2% during the third quarter. JPMorgan Chase & Co. now owns 139,888 shares of the communications equipment provider’s stock worth $419,000 after buying an additional 21,554 shares during the period. SG Americas Securities LLC boosted its stake in Harmonic by 193.7% during the fourth quarter. SG Americas Securities LLC now owns 36,761 shares of the communications equipment provider’s stock worth $154,000 after buying an additional 24,244 shares during the period. Finally, Rhumbline Advisers boosted its stake in Harmonic by 14.5% during the fourth quarter. Rhumbline Advisers now owns 192,202 shares of the communications equipment provider’s stock worth $807,000 after buying an additional 24,302 shares during the period. 91.77% of the stock is owned by hedge funds and other institutional investors.

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NASDAQ:HLIT opened at $3.75 on Monday. Harmonic Inc has a twelve month low of $2.80 and a twelve month high of $6.03. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.21.

Harmonic (NASDAQ:HLIT) last released its earnings results on Wednesday, February 28th. The communications equipment provider reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03). Harmonic had a negative return on equity of 17.41% and a negative net margin of 23.16%. The business had revenue of $100.97 million for the quarter, compared to the consensus estimate of $96.47 million. equities research analysts forecast that Harmonic Inc will post -0.06 EPS for the current year.

Several research analysts have commented on HLIT shares. BidaskClub raised shares of Harmonic from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. Zacks Investment Research downgraded Harmonic from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $5.06.

In other news, insider Neven Haltmayer sold 10,198 shares of Harmonic stock in a transaction on Friday, March 9th. The stock was sold at an average price of $3.53, for a total transaction of $35,998.94. Following the completion of the sale, the insider now directly owns 94,609 shares in the company, valued at $333,969.77. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Patrick Harshman sold 35,581 shares of Harmonic stock in a transaction on Friday, March 9th. The stock was sold at an average price of $3.53, for a total value of $125,600.93. Following the sale, the chief executive officer now owns 708,160 shares of the company’s stock, valued at $2,499,804.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,234 shares of company stock valued at $198,506. Corporate insiders own 5.53% of the company’s stock.

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Harmonic Company Profile

Harmonic Inc designs, manufactures, and sells video infrastructure products and system solutions worldwide. Its products enable customers to create, prepare, and deliver a range of video and broadband services to consumer devices, including televisions, personal computers, laptops, tablets, and smart phones.

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Institutional Ownership by Quarter for Harmonic (NASDAQ:HLIT)

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