Harmonic Inc. (NASDAQ:HLIT) Shares Bought by Boston Partners

Boston Partners lifted its holdings in shares of Harmonic Inc. (NASDAQ:HLITFree Report) by 5.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,934 shares of the communications equipment provider’s stock after acquiring an additional 3,622 shares during the quarter. Boston Partners owned about 0.06% of Harmonic worth $860,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Trigran Investments Inc. lifted its stake in shares of Harmonic by 38.5% during the third quarter. Trigran Investments Inc. now owns 9,636,809 shares of the communications equipment provider’s stock worth $92,802,000 after purchasing an additional 2,677,338 shares in the last quarter. Scopia Capital Management LP grew its position in Harmonic by 78.5% in the third quarter. Scopia Capital Management LP now owns 5,649,163 shares of the communications equipment provider’s stock valued at $54,401,000 after acquiring an additional 2,484,825 shares in the last quarter. Toronado Partners LLC raised its stake in shares of Harmonic by 149.5% during the third quarter. Toronado Partners LLC now owns 2,011,532 shares of the communications equipment provider’s stock valued at $19,371,000 after purchasing an additional 1,205,380 shares during the period. Kennedy Capital Management LLC lifted its position in shares of Harmonic by 123.8% during the third quarter. Kennedy Capital Management LLC now owns 1,639,572 shares of the communications equipment provider’s stock worth $15,789,000 after purchasing an additional 907,106 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Harmonic by 9.9% in the third quarter. Vanguard Group Inc. now owns 9,396,603 shares of the communications equipment provider’s stock valued at $90,489,000 after purchasing an additional 847,808 shares during the period. 99.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on HLIT shares. Rosenblatt Securities lowered their target price on 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 raised shares of Harmonic from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. TheStreet upgraded Harmonic from a “c” rating to a “b” rating in a report on Monday, January 29th. Raymond James dropped their price objective on shares of Harmonic from $19.00 to $18.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, January 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $18.00 target price on shares of Harmonic in a research note on Friday. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Harmonic presently has an average rating of “Buy” and a consensus price target of $17.20.

Check Out Our Latest Report on Harmonic

Insider Transactions at Harmonic

In related news, SVP Ian Graham sold 52,730 shares of Harmonic stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $10.95, for a total transaction of $577,393.50. Following the transaction, the senior vice president now directly owns 63,616 shares of the company’s stock, valued at $696,595.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 2.20% of the company’s stock.

Harmonic Stock Performance

Shares of HLIT opened at $11.63 on Friday. The firm has a market capitalization of $1.30 billion, a PE ratio of 19.38 and a beta of 0.90. The company has a quick ratio of 0.78, a current ratio of 1.09 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $11.61 and a 200 day moving average price of $11.85. Harmonic Inc. has a 52-week low of $8.80 and a 52-week high of $18.43.

Harmonic (NASDAQ:HLITGet Free Report) last posted 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 company had revenue of $122.06 million for the quarter, compared to analyst estimates of $121.70 million. Harmonic had a net margin of 12.37% and a return on equity of 1.35%. Harmonic’s revenue was down 22.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 EPS. On average, sell-side analysts anticipate that Harmonic Inc. will post 0.36 earnings per share for the current fiscal year.

Harmonic Company Profile

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for Harmonic (NASDAQ:HLIT)

Receive News & Ratings for Harmonic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harmonic and related companies with MarketBeat.com's FREE daily email newsletter.