State of Wisconsin Investment Board Sells 72,000 Shares of Harmonic Inc. (NASDAQ:HLIT)

State of Wisconsin Investment Board lowered its stake in Harmonic Inc. (NASDAQ:HLIT) by 11.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 578,800 shares of the communications equipment provider’s stock after selling 72,000 shares during the quarter. State of Wisconsin Investment Board’s holdings in Harmonic were worth $4,277,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in HLIT. Aperio Group LLC bought a new stake in shares of Harmonic in the 3rd quarter valued at $79,000. Brinker Capital Investments LLC bought a new stake in shares of Harmonic in the 3rd quarter valued at $113,000. BNP Paribas Arbitrage SA increased its stake in shares of Harmonic by 290.2% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 24,385 shares of the communications equipment provider’s stock valued at $136,000 after acquiring an additional 18,136 shares in the last quarter. WINTON GROUP Ltd bought a new stake in shares of Harmonic in the 3rd quarter valued at $137,000. Finally, Cornerstone Investment Partners LLC bought a new stake in shares of Harmonic in the 3rd quarter valued at $138,000. Institutional investors own 89.05% of the company’s stock.

In related news, SVP Neven Haltmayer sold 25,000 shares of the business’s stock in a transaction dated Friday, December 4th. The stock was sold at an average price of $7.00, for a total value of $175,000.00. Following the sale, the senior vice president now directly owns 204,675 shares in the company, valued at approximately $1,432,725. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sanjay Kalra sold 27,404 shares of the business’s stock in a transaction dated Tuesday, February 9th. The shares were sold at an average price of $8.00, for a total value of $219,232.00. The disclosure for this sale can be found here. Insiders sold a total of 115,788 shares of company stock worth $887,136 over the last three months. 4.10% of the stock is owned by insiders.

Several research firms have recently weighed in on HLIT. Needham & Company LLC lifted their price objective on shares of Harmonic from $9.00 to $9.50 and gave the company a “buy” rating in a research note on Tuesday, February 2nd. Barclays lifted their price target on shares of Harmonic from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Thursday, January 14th. Zacks Investment Research downgraded shares of Harmonic from a “hold” rating to a “sell” rating in a research report on Thursday, February 4th. Stifel Nicolaus lifted their price objective on shares of Harmonic from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, February 2nd. Finally, Raymond James raised shares of Harmonic to a “buy” rating in a report on Wednesday, February 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Harmonic currently has a consensus rating of “Hold” and an average price target of $8.18.

Shares of NASDAQ:HLIT opened at $8.00 on Tuesday. The company’s 50-day moving average is $7.81 and its 200 day moving average is $6.72. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.22 and a current ratio of 1.47. The company has a market capitalization of $781.98 million, a P/E ratio of -20.51, a price-to-earnings-growth ratio of 2.32 and a beta of 0.83. Harmonic Inc. has a fifty-two week low of $4.44 and a fifty-two week high of $8.47.

Harmonic (NASDAQ:HLIT) last issued its quarterly earnings results on Sunday, January 31st. The communications equipment provider reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.05. Harmonic had a negative net margin of 10.06% and a negative return on equity of 7.13%. As a group, research analysts predict that Harmonic Inc. will post -0.15 earnings per share for the current year.

About Harmonic

Harmonic Inc, together with its subsidiaries, provide video delivery software, products, system solutions, and services 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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