Avior Wealth Management LLC Takes Position in Harmonic Inc. (NASDAQ:HLIT)

Avior Wealth Management LLC purchased a new stake in Harmonic Inc. (NASDAQ:HLIT) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 10,520 shares of the communications equipment provider’s stock, valued at approximately $137,000.

A number of other large investors also recently modified their holdings of HLIT. Captrust Financial Advisors lifted its stake in shares of Harmonic by 411.4% in the 1st quarter. Captrust Financial Advisors now owns 3,866 shares of the communications equipment provider’s stock valued at $36,000 after acquiring an additional 3,110 shares during the last quarter. Advisor Group Holdings Inc. increased its holdings in Harmonic by 80.5% in the fourth quarter. Advisor Group Holdings Inc. now owns 3,271 shares of the communications equipment provider’s stock valued at $43,000 after purchasing an additional 1,459 shares during the period. Belpointe Asset Management LLC increased its holdings in Harmonic by 2,615.0% in the first quarter. Belpointe Asset Management LLC now owns 3,258 shares of the communications equipment provider’s stock valued at $48,000 after purchasing an additional 3,138 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Harmonic in the second quarter valued at $65,000. Finally, Tower Research Capital LLC TRC increased its holdings in Harmonic by 239.9% in the third quarter. Tower Research Capital LLC TRC now owns 7,178 shares of the communications equipment provider’s stock valued at $69,000 after purchasing an additional 5,066 shares during the period. 99.38% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Nimrod Ben-Natan sold 100,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $12.91, for a total value of $1,291,000.00. Following the completion of the sale, the senior vice president now directly owns 302,214 shares in the company, valued at approximately $3,901,582.74. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, SVP Neven Haltmayer sold 24,695 shares of the firm’s stock in a transaction dated 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 owns 181,864 shares of the company’s stock, valued at approximately $2,105,985.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Nimrod Ben-Natan sold 100,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $12.91, for a total transaction of $1,291,000.00. Following the completion of the transaction, the senior vice president now directly owns 302,214 shares in the company, valued at approximately $3,901,582.74. The disclosure for this sale can be found here. Insiders sold a total of 150,000 shares of company stock worth $1,917,122 in the last three months. Company insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on HLIT shares. Raymond James decreased their price objective on Harmonic from $19.00 to $18.00 and set a “strong-buy” rating for the company in a report on Tuesday, January 30th. Rosenblatt Securities decreased their price objective on Harmonic from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, January 30th. StockNews.com upgraded 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. Finally, Needham & Company LLC reiterated a “buy” rating and set a $18.00 price target on shares of Harmonic in a report on Wednesday. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $17.20.

Harmonic Stock Performance

Shares of Harmonic stock opened at $9.68 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.91 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average price of $12.68 and a two-hundred day moving average price of $11.75. Harmonic Inc. has a 1-year low of $8.80 and a 1-year high of $18.43. The company has a market cap of $1.08 billion, a P/E ratio of 13.63 and a beta of 0.84.

Harmonic (NASDAQ:HLIT) last issued its earnings results on Monday, January 29th. The communications equipment provider reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $167.10 million during the quarter, compared to the consensus estimate of $158.98 million. Harmonic had a return on equity of 4.71% and a net margin of 13.82%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the business posted $0.12 EPS. As a group, analysts anticipate that Harmonic Inc. will post 0.32 EPS for the current year.

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.