Vontobel Holding Ltd. Buys Shares of 26,413 Harmonic Inc. (NASDAQ:HLIT)

Vontobel Holding Ltd. bought a new stake in Harmonic Inc. (NASDAQ:HLIT) during the fourth quarter, Holdings Channel reports. The institutional investor bought 26,413 shares of the communications equipment provider’s stock, valued at approximately $344,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HLIT. PNC Financial Services Group Inc. boosted its stake in shares of Harmonic by 12.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 16,622 shares of the communications equipment provider’s stock worth $160,000 after acquiring an additional 1,871 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in shares of Harmonic by 1.4% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 160,504 shares of the communications equipment provider’s stock worth $1,546,000 after acquiring an additional 2,151 shares in the last quarter. Swiss National Bank boosted its stake in shares of Harmonic by 1.3% during the 3rd quarter. Swiss National Bank now owns 232,615 shares of the communications equipment provider’s stock worth $2,240,000 after acquiring an additional 2,900 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Harmonic by 41.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 27,212 shares of the communications equipment provider’s stock worth $262,000 after acquiring an additional 7,962 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC boosted its stake in shares of Harmonic by 37.1% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 30,618 shares of the communications equipment provider’s stock worth $295,000 after acquiring an additional 8,281 shares in the last quarter. Hedge funds and other institutional investors own 99.38% of the company’s stock.

Insider Buying and Selling

In related news, SVP Neven Haltmayer sold 14,747 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $13.68, for a total transaction of $201,738.96. Following the completion of the transaction, the senior vice president now owns 156,559 shares in the company, valued at approximately $2,141,727.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Nimrod Ben-Natan sold 100,000 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $12.91, for a total transaction of $1,291,000.00. Following the completion of the sale, the senior vice president now directly owns 302,214 shares of the company’s stock, valued at approximately $3,901,582.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Neven Haltmayer sold 14,747 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $13.68, for a total value of $201,738.96. Following the sale, the senior vice president now directly owns 156,559 shares of the company’s stock, valued at $2,141,727.12. The disclosure for this sale can be found here. Insiders sold 150,000 shares of company stock worth $1,917,122 in the last 90 days. 2.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. StockNews.com upgraded Harmonic from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. TheStreet raised Harmonic from a “c” rating to a “b” rating in a research report on Monday, January 29th. Raymond James cut their price objective on Harmonic from $19.00 to $18.00 and set a “strong-buy” rating for the company in a research report on Tuesday, January 30th. Needham & Company LLC reissued a “buy” rating and set a $18.00 price objective on shares of Harmonic in a research report on Wednesday, April 17th. Finally, Rosenblatt Securities cut their price objective on Harmonic from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, January 30th. One investment 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. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $17.20.

Harmonic Price Performance

Shares of HLIT stock opened at $9.58 on Wednesday. The stock has a 50 day moving average of $12.60 and a two-hundred day moving average of $11.77. The company has a current ratio of 1.21, a quick ratio of 0.91 and a debt-to-equity ratio of 0.02. Harmonic Inc. has a 12 month low of $8.80 and a 12 month high of $18.43. The company has a market capitalization of $1.07 billion, a P/E ratio of 13.49 and a beta of 0.84.

Harmonic (NASDAQ:HLIT) last posted its earnings results on Monday, January 29th. The communications equipment provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.10 by $0.03. The business 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%. Harmonic’s revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the company earned $0.12 EPS. As a group, equities analysts expect that Harmonic Inc. will post 0.32 EPS for the current 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.