International Assets Investment Management LLC Purchases New Shares in Harmonic Inc. (NASDAQ:HLIT)

International Assets Investment Management LLC purchased a new stake in Harmonic Inc. (NASDAQ:HLIT) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 41,663 shares of the communications equipment provider’s stock, valued at approximately $543,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Silverberg Bernstein Capital Management LLC acquired a new stake in Harmonic in the 4th quarter valued at $10,481,000. Raymond James Financial Services Advisors Inc. grew its stake in Harmonic by 9.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 135,028 shares of the communications equipment provider’s stock valued at $1,761,000 after acquiring an additional 12,091 shares during the period. Raymond James & Associates grew its stake in Harmonic by 111.1% in the 4th quarter. Raymond James & Associates now owns 136,351 shares of the communications equipment provider’s stock valued at $1,778,000 after acquiring an additional 71,764 shares during the period. FNY Investment Advisers LLC acquired a new stake in Harmonic in the 4th quarter valued at $249,000. Finally, Vanguard Group Inc. grew its stake in Harmonic by 9.9% in the 3rd quarter. Vanguard Group Inc. now owns 9,396,603 shares of the communications equipment provider’s stock valued at $90,489,000 after acquiring an additional 847,808 shares during the period. Institutional investors and hedge funds own 99.38% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on HLIT shares. TheStreet raised shares of Harmonic from a “c” rating to a “b” rating in a research note on Monday, January 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 target price on shares of Harmonic in a research note on Wednesday, April 17th. Raymond James lowered their target price on shares of Harmonic from $19.00 to $18.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, January 30th. Rosenblatt Securities lowered their target price on shares of Harmonic from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, January 30th. Finally, StockNews.com raised shares of Harmonic from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $17.20.

Insider Activity

In other news, SVP Neven Haltmayer sold 24,695 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $11.58, for a total transaction 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 filing with the SEC, which is available at this hyperlink. In related news, SVP Neven Haltmayer sold 24,695 shares of the business’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 sale, the senior vice president now directly owns 181,864 shares in the company, valued at approximately $2,105,985.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Nimrod Ben-Natan sold 100,000 shares of the business’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 sale, the senior vice president now owns 302,214 shares in the company, valued at $3,901,582.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 150,000 shares of company stock valued at $1,917,122. 2.20% of the stock is currently owned by insiders.

Harmonic Trading Down 2.4 %

Shares of HLIT stock opened at $9.20 on Friday. The company’s 50-day moving average price is $12.43 and its 200-day moving average price is $11.76. 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 stock has a market cap of $1.03 billion, a price-to-earnings ratio of 12.96 and a beta of 0.84. Harmonic Inc. has a twelve month low of $8.80 and a twelve month high of $18.43.

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