Harmonic Inc. (NASDAQ:HLIT) Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP lowered its stake in Harmonic Inc. (NASDAQ:HLIT) by 42.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,498 shares of the communications equipment provider’s stock after selling 11,630 shares during the quarter. GSA Capital Partners LLP’s holdings in Harmonic were worth $226,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Harmonic by 1.7% in the first quarter. Vanguard Group Inc. now owns 9,852,064 shares of the communications equipment provider’s stock valued at $132,412,000 after acquiring an additional 166,018 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Harmonic by 9.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 129,390 shares of the communications equipment provider’s stock worth $1,737,000 after purchasing an additional 10,838 shares during the last quarter. Silvercrest Asset Management Group LLC purchased a new stake in shares of Harmonic during the first quarter worth about $8,295,000. Jane Street Group LLC raised its position in shares of Harmonic by 1,276.3% in the first quarter. Jane Street Group LLC now owns 1,203,297 shares of the communications equipment provider’s stock valued at $16,172,000 after buying an additional 1,115,870 shares during the last quarter. Finally, Boston Partners lifted its stake in shares of Harmonic by 82.4% during the first quarter. Boston Partners now owns 120,296 shares of the communications equipment provider’s stock valued at $1,617,000 after buying an additional 54,362 shares during the period. Institutional investors and hedge funds own 99.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HLIT. Needham & Company LLC restated a “buy” rating and set a $18.00 price objective on shares of Harmonic in a report on Tuesday, October 29th. Jefferies Financial Group cut Harmonic from a “buy” rating to a “hold” rating and lowered their price target for the company from $14.00 to $12.50 in a report on Tuesday, October 29th. Rosenblatt Securities dropped their price objective on shares of Harmonic from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Raymond James downgraded shares of Harmonic from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $17.00 to $14.00 in a report on Tuesday, October 29th. Finally, Barclays decreased their price target on shares of Harmonic from $20.00 to $17.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.25.

Harmonic Trading Up 0.6 %

Harmonic stock opened at $12.47 on Monday. The stock has a market cap of $1.45 billion, a P/E ratio of 17.08 and a beta of 0.89. The company’s fifty day simple moving average is $13.26 and its 200-day simple moving average is $12.80. The company has a quick ratio of 1.62, a current ratio of 2.08 and a debt-to-equity ratio of 0.29. Harmonic Inc. has a 12 month low of $9.10 and a 12 month high of $15.46.

Harmonic (NASDAQ:HLIT) last issued its quarterly earnings data on Monday, October 28th. The communications equipment provider reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.09. The business had revenue of $195.80 million for the quarter, compared to the consensus estimate of $181.77 million. Harmonic had a return on equity of 7.56% and a net margin of 13.62%. The firm’s revenue was up 53.9% compared to the same quarter last year. During the same period last year, the business earned ($0.05) EPS. As a group, sell-side analysts forecast that Harmonic Inc. will post 0.52 EPS for the current fiscal year.

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.