Harmonic Inc. (NASDAQ:HLIT) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC decreased its stake in Harmonic Inc. (NASDAQ:HLIT) by 6.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,442 shares of the communications equipment provider’s stock after selling 4,075 shares during the period. Yousif Capital Management LLC’s holdings in Harmonic were worth $723,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. PNC Financial Services Group Inc. boosted its holdings in shares of Harmonic by 12.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 16,622 shares of the communications equipment provider’s stock valued at $160,000 after buying an additional 1,871 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of Harmonic by 1.4% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 160,504 shares of the communications equipment provider’s stock valued at $1,546,000 after buying an additional 2,151 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Harmonic by 1.3% in the 3rd quarter. Swiss National Bank now owns 232,615 shares of the communications equipment provider’s stock valued at $2,240,000 after buying an additional 2,900 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Harmonic by 33.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,731 shares of the communications equipment provider’s stock valued at $388,000 after buying an additional 7,422 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC boosted its holdings in shares of Harmonic by 37.1% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 30,618 shares of the communications equipment provider’s stock valued at $295,000 after buying an additional 8,281 shares in the last quarter. Institutional investors and hedge funds own 99.38% of the company’s stock.

Harmonic Stock Down 1.3 %

Shares of Harmonic stock opened at $10.96 on Monday. The company has a market cap of $1.23 billion, a P/E ratio of 18.27 and a beta of 0.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.91 and a current ratio of 1.09. Harmonic Inc. has a one year low of $8.80 and a one year high of $18.43. The firm has a fifty day moving average of $11.98 and a two-hundred day moving average of $11.79.

Harmonic (NASDAQ:HLIT) last announced its quarterly earnings data on Monday, April 29th. The communications equipment provider reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The firm had revenue of $122.06 million for the quarter, compared to analysts’ expectations of $121.70 million. Harmonic had a return on equity of 1.35% and a net margin of 12.37%. The firm’s quarterly revenue was down 22.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS. On average, analysts forecast that Harmonic Inc. will post 0.36 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. TheStreet upgraded shares of Harmonic from a “c” rating to a “b” rating in a research note on Monday, January 29th. Rosenblatt Securities decreased their price target on shares of Harmonic from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, January 30th. StockNews.com upgraded shares of Harmonic from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price target on shares of Harmonic in a research note on Tuesday, April 30th. Finally, Raymond James decreased their price target on shares of Harmonic from $19.00 to $18.00 and set a “strong-buy” rating for the company in a research note on Tuesday, January 30th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $17.20.

Insiders Place Their Bets

In other news, SVP Neven Haltmayer sold 14,747 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $13.68, for a total value of $201,738.96. Following the completion of the transaction, the senior vice president now owns 156,559 shares in the company, valued at approximately $2,141,727.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.20% of the stock is owned by insiders.

Harmonic Company 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.