The Capstone Asset Management Co. reduces its investment in Harmonic Inc. (HLIT)

The Capstone Asset Management Co. reduces its investment in Harmonic Inc. (HLIT)

Capstone Asset Management Co. decreased its position in Harmonic Inc. (NASDAQ:HLIT) by 4.9% during the third quarter, Holdings Channel reports. The fund owned 28,450 shares of the company’s stock after selling 1,460 shares during the period. Capstone Asset Management Co.’s holdings in Harmonic were worth $169,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Arizona State Retirement System boosted its stake in shares of Harmonic by 3.1% in the second quarter. Arizona State Retirement System now owns 40,118 shares of the company’s stock worth $114,000 after buying an additional 1,200 shares during the last quarter. KBC Group NV boosted its stake in shares of Harmonic by 5.9% in the second quarter. KBC Group NV now owns 49,051 shares of the company’s stock worth $140,000 after buying an additional 2,733 shares during the last quarter. Sei Investments Co. purchased a new stake in shares of Harmonic during the second quarter worth approximately $237,000. Carleon Capital Partners LLC boosted its stake in shares of Harmonic by 4.8% in the second quarter. Carleon Capital Partners LLC now owns 119,473 shares of the company’s stock worth $340,000 after buying an additional 5,520 shares during the last quarter. Finally, Menta Capital LLC purchased a new stake in shares of Harmonic during the first quarter worth approximately $346,000. 94.61% of the stock is currently owned by institutional investors and hedge funds.

Harmonic Inc. (NASDAQ:HLIT) opened at 5.47 on Friday. The stock’s 50 day moving average price is $5.08 and its 200-day moving average price is $3.66. The stock’s market cap is $426.82 million. Harmonic Inc. has a 12 month low of $2.51 and a 12 month high of $6.13.

A number of equities research analysts have recently commented on the stock. Drexel Hamilton raised shares of Harmonic from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research note on Wednesday, August 10th. TheStreet upgraded Harmonic from a “sell” rating to a “hold” rating in a research report on Tuesday, August 30th. Jefferies Group reiterated a “hold” rating and set a $3.50 target price on shares of Harmonic in a research report on Wednesday, August 10th. Finally, Zacks Investment Research upgraded Harmonic from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $4.81.

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.

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