SG Americas Securities LLC Sells 6,093 Shares of Harmonic Inc. (NASDAQ:HLIT)

SG Americas Securities LLC trimmed its position in shares of Harmonic Inc. (NASDAQ:HLIT) by 11.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,856 shares of the communications equipment provider’s stock after selling 6,093 shares during the period. SG Americas Securities LLC’s holdings in Harmonic were worth $620,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of HLIT. Geode Capital Management LLC raised its position in Harmonic by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,675,268 shares of the communications equipment provider’s stock valued at $38,986,000 after purchasing an additional 17,665 shares during the last quarter. Wasatch Advisors LP increased its stake in shares of Harmonic by 15.3% during the third quarter. Wasatch Advisors LP now owns 1,659,823 shares of the communications equipment provider’s stock valued at $24,184,000 after buying an additional 219,685 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of Harmonic by 85.1% during the third quarter. Point72 Asset Management L.P. now owns 1,208,829 shares of the communications equipment provider’s stock valued at $17,613,000 after acquiring an additional 555,737 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Harmonic by 117.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,187,528 shares of the communications equipment provider’s stock worth $17,302,000 after acquiring an additional 642,033 shares during the period. Finally, Systematic Financial Management LP boosted its holdings in Harmonic by 12.0% in the third quarter. Systematic Financial Management LP now owns 1,107,668 shares of the communications equipment provider’s stock valued at $16,139,000 after acquiring an additional 118,377 shares in the last quarter. 99.38% of the stock is currently owned by hedge funds and other institutional investors.

Harmonic Price Performance

Shares of NASDAQ HLIT opened at $11.35 on Friday. The company has a 50 day simple moving average of $12.81 and a two-hundred day simple moving average of $13.18. Harmonic Inc. has a fifty-two week low of $9.10 and a fifty-two week high of $15.46. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 15.55 and a beta of 0.91. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.62 and a current ratio of 2.08.

Harmonic (NASDAQ:HLIT) last posted 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. Harmonic had a return on equity of 7.56% and a net margin of 13.62%. The company had revenue of $195.80 million during the quarter, compared to analyst estimates of $181.77 million. During the same quarter last year, the company earned ($0.05) EPS. The firm’s revenue for the quarter was up 53.9% on a year-over-year basis. Analysts expect that Harmonic Inc. will post 0.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on HLIT shares. Raymond James lowered shares of Harmonic from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $17.00 to $14.00 in a report on Tuesday, October 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, October 29th. Barclays cut Harmonic from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $17.00 to $14.00 in a research report on Thursday, January 9th. Needham & Company LLC reissued a “buy” rating and issued a $18.00 target price on shares of Harmonic in a research report on Tuesday, October 29th. Finally, Jefferies Financial Group cut Harmonic from a “buy” rating to a “hold” rating and lowered their target price for the company from $14.00 to $12.50 in a research note on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.75.

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.