Deutsche Bank AG Purchases 59,496 Shares of Harmonic Inc. (NASDAQ:HLIT)

Deutsche Bank AG increased its position in Harmonic Inc. (NASDAQ:HLIT) by 90.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 125,205 shares of the communications equipment provider’s stock after purchasing an additional 59,496 shares during the period. Deutsche Bank AG owned 0.11% of Harmonic worth $1,656,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in HLIT. Quarry LP purchased a new stake in shares of Harmonic in the fourth quarter worth $33,000. Russell Investments Group Ltd. boosted its stake in Harmonic by 5,388.1% in the 4th quarter. Russell Investments Group Ltd. now owns 5,543 shares of the communications equipment provider’s stock worth $73,000 after purchasing an additional 5,442 shares in the last quarter. AlphaQuest LLC grew its position in Harmonic by 14,765.9% during the 4th quarter. AlphaQuest LLC now owns 6,095 shares of the communications equipment provider’s stock valued at $81,000 after purchasing an additional 6,054 shares during the last quarter. KBC Group NV increased its stake in Harmonic by 84.8% during the 4th quarter. KBC Group NV now owns 6,295 shares of the communications equipment provider’s stock valued at $83,000 after purchasing an additional 2,888 shares in the last quarter. Finally, Cresset Asset Management LLC bought a new stake in Harmonic during the 4th quarter valued at about $133,000. Institutional investors own 99.38% of the company’s stock.

Harmonic Stock Performance

Shares of NASDAQ HLIT opened at $8.94 on Friday. Harmonic Inc. has a 12-month low of $7.91 and a 12-month high of $15.46. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 27.09 and a beta of 1.03. The company has a current ratio of 2.18, a quick ratio of 1.80 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average of $9.23 and a 200 day moving average of $10.99.

Harmonic (NASDAQ:HLIT) last issued its quarterly earnings data on Monday, April 28th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.06. The firm had revenue of $133.14 million during the quarter, compared to the consensus estimate of $127.51 million. Harmonic had a net margin of 5.78% and a return on equity of 15.90%. The business’s revenue was up 9.1% on a year-over-year basis. On average, research analysts anticipate that Harmonic Inc. will post 0.31 earnings per share for the current year.

Harmonic announced that its Board of Directors has approved a stock buyback plan on Monday, February 10th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the communications equipment provider to repurchase up to 15.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Harmonic

In other news, Director Daniel T. Whalen bought 3,000 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were bought at an average price of $10.15 per share, for a total transaction of $30,450.00. Following the purchase, the director now owns 8,840 shares in the company, valued at approximately $89,726. The trade was a 51.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.21% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on HLIT shares. Wall Street Zen raised Harmonic from a “hold” rating to a “buy” rating in a research report on Thursday, March 27th. Barclays reiterated an “underperform” rating on shares of Harmonic in a research note on Tuesday, April 29th. Northland Securities lowered their price objective on shares of Harmonic from $14.00 to $12.50 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th. Jefferies Financial Group initiated coverage on shares of Harmonic in a research report on Friday, February 21st. They issued a “hold” rating for the company. Finally, Rosenblatt Securities decreased their target price on shares of Harmonic from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $12.33.

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.