Mutual of America Capital Management LLC Purchases 133,885 Shares of Harmonic Inc. (NASDAQ:HLIT)

Mutual of America Capital Management LLC lifted its position in Harmonic Inc. (NASDAQ:HLIT) by 48.5% during the 4th quarter, Holdings Channel reports. The firm owned 409,799 shares of the communications equipment provider’s stock after buying an additional 133,885 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Harmonic were worth $5,422,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in HLIT. KBC Group NV grew its holdings in shares of Harmonic by 84.8% in the 4th quarter. KBC Group NV now owns 6,295 shares of the communications equipment provider’s stock worth $83,000 after purchasing an additional 2,888 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of Harmonic in the 4th quarter worth about $146,000. iSAM Funds UK Ltd bought a new stake in shares of Harmonic in the 3rd quarter worth about $166,000. Captrust Financial Advisors grew its holdings in shares of Harmonic by 14.9% in the 3rd quarter. Captrust Financial Advisors now owns 12,671 shares of the communications equipment provider’s stock worth $185,000 after purchasing an additional 1,647 shares during the last quarter. Finally, Versor Investments LP bought a new stake in shares of Harmonic in the 3rd quarter worth about $227,000. Institutional investors own 99.38% of the company’s stock.

Insider Activity

In other news, Director Daniel T. Whalen acquired 3,000 shares of Harmonic stock in a transaction that occurred on Monday, February 24th. The shares were acquired at an average price of $10.15 per share, with a total value of $30,450.00. Following the purchase, the director now directly owns 8,840 shares of the company’s stock, valued at $89,726. The trade was a 51.37 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Walter Jankovic acquired 12,000 shares of Harmonic stock in a transaction that occurred on Wednesday, February 12th. The shares were purchased at an average cost of $9.44 per share, for a total transaction of $113,280.00. Following the purchase, the chief financial officer now directly owns 46,129 shares in the company, valued at $435,457.76. The trade was a 35.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 32,780 shares of company stock valued at $316,607. 2.36% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HLIT. StockNews.com raised shares of Harmonic from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th. Rosenblatt Securities decreased their price objective on shares of Harmonic from $16.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Needham & Company LLC decreased their price objective on shares of Harmonic from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Jefferies Financial Group began coverage on shares of Harmonic in a report on Friday, February 21st. They set a “hold” rating on the stock. Finally, Northland Securities decreased their price objective on shares of Harmonic from $14.00 to $12.50 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

Harmonic Stock Up 0.5 %

Shares of NASDAQ HLIT opened at $10.36 on Tuesday. The firm has a market capitalization of $1.21 billion, a PE ratio of 31.39 and a beta of 0.89. The company has a current ratio of 2.18, a quick ratio of 1.80 and a debt-to-equity ratio of 0.26. Harmonic Inc. has a 1 year low of $8.42 and a 1 year high of $15.46. The firm’s 50-day moving average is $11.78 and its 200-day moving average is $12.81.

Harmonic (NASDAQ:HLIT) last issued its earnings results on Monday, February 10th. The communications equipment provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.01. Harmonic had a net margin of 5.78% and a return on equity of 15.90%. Equities analysts expect that Harmonic Inc. will post 0.31 EPS for the current year.

Harmonic declared that its board has authorized a stock repurchase program on Monday, February 10th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the communications equipment provider to reacquire up to 15.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Harmonic Profile

Harmonic Inc, together with its subsidiaries, provides broadband solutions worldwide. The company operates through Broadband and Video segments. The Broadband segment sells broadband access solutions and related services, including cOS software-based broadband access solutions to broadband operators; and cOS central cloud services, a subscription service for cOS customers.