Harmonic Inc. (NASDAQ:HLIT) Shares Bought by Raymond James & Associates

Raymond James & Associates raised its stake in Harmonic Inc. (NASDAQ:HLIT) by 111.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 136,351 shares of the communications equipment provider’s stock after purchasing an additional 71,764 shares during the quarter. Raymond James & Associates’ holdings in Harmonic were worth $1,778,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of HLIT. Trigran Investments Inc. lifted its position in Harmonic by 38.5% in the third quarter. Trigran Investments Inc. now owns 9,636,809 shares of the communications equipment provider’s stock valued at $92,802,000 after buying an additional 2,677,338 shares during the last quarter. Scopia Capital Management LP lifted its position in shares of Harmonic by 78.5% during the third quarter. Scopia Capital Management LP now owns 5,649,163 shares of the communications equipment provider’s stock worth $54,401,000 after purchasing an additional 2,484,825 shares in the last quarter. Millennium Management LLC lifted its position in shares of Harmonic by 276.3% during the second quarter. Millennium Management LLC now owns 1,837,589 shares of the communications equipment provider’s stock worth $15,932,000 after purchasing an additional 1,349,242 shares in the last quarter. FMR LLC lifted its position in shares of Harmonic by 841.8% during the first quarter. FMR LLC now owns 1,411,463 shares of the communications equipment provider’s stock worth $20,593,000 after purchasing an additional 1,261,597 shares in the last quarter. Finally, Toronado Partners LLC lifted its position 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 worth $19,371,000 after purchasing an additional 1,205,380 shares in the last quarter. Institutional investors and hedge funds own 99.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on HLIT shares. Needham & Company LLC reissued a “buy” rating and set a $18.00 price target on shares of Harmonic in a research report on Wednesday. Raymond James reduced their price target on shares of Harmonic from $19.00 to $18.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, January 30th. StockNews.com raised shares of Harmonic from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. Rosenblatt Securities reduced their price target on shares of Harmonic from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, January 30th. Finally, TheStreet upgraded shares of Harmonic from a “c” rating to a “b” rating in a research note on Monday, January 29th. One 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $17.20.

Insider Buying and Selling at Harmonic

In other Harmonic news, SVP Neven Haltmayer sold 24,695 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $11.58, for a total value of $285,968.10. Following the transaction, the senior vice president now directly owns 181,864 shares in the company, valued at $2,105,985.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Harmonic news, SVP Nimrod Ben-Natan sold 100,000 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $12.91, for a total value of $1,291,000.00. Following the transaction, the senior vice president now directly owns 302,214 shares in the company, valued at $3,901,582.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Neven Haltmayer sold 24,695 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $11.58, for a total value of $285,968.10. Following the completion of the sale, the senior vice president now directly owns 181,864 shares of the company’s stock, valued at $2,105,985.12. The disclosure for this sale can be found here. Insiders have sold 150,000 shares of company stock worth $1,917,122 over the last three months. Insiders own 2.20% of the company’s stock.

Harmonic Stock Down 2.0 %

HLIT stock opened at $10.03 on Thursday. The company’s 50 day moving average price is $12.83 and its 200 day moving average price is $11.75. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.91 and a current ratio of 1.21. Harmonic Inc. has a fifty-two week low of $8.80 and a fifty-two week high of $18.43. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 14.13 and a beta of 0.84.

Harmonic (NASDAQ:HLIT) last released its earnings results on Monday, January 29th. The communications equipment provider reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The firm had revenue of $167.10 million for the quarter, compared to analyst estimates of $158.98 million. Harmonic had a net margin of 13.82% and a return on equity of 4.71%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 earnings per share. On average, equities research analysts anticipate that Harmonic Inc. will post 0.32 EPS for the current fiscal year.

About Harmonic

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.