Universal Beteiligungs und Servicegesellschaft mbH Makes New $233,000 Investment in Harmonic Inc. (NASDAQ:HLIT)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Harmonic Inc. (NASDAQ:HLIT) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 24,270 shares of the communications equipment provider’s stock, valued at approximately $233,000.

Several other large investors also recently made changes to their positions in HLIT. Y Intercept Hong Kong Ltd raised its holdings in shares of Harmonic by 111.8% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 107,491 shares of the communications equipment provider’s stock worth $1,031,000 after purchasing an additional 56,744 shares in the last quarter. Allianz Asset Management GmbH acquired a new position in Harmonic in the first quarter worth approximately $189,000. Bailard Inc. bought a new position in shares of Harmonic in the first quarter valued at $259,000. PAX Financial Group LLC acquired a new stake in shares of Harmonic during the 1st quarter valued at $664,000. Finally, Edgestream Partners L.P. boosted its stake in shares of Harmonic by 14.1% during the 1st quarter. Edgestream Partners L.P. now owns 63,524 shares of the communications equipment provider’s stock worth $609,000 after acquiring an additional 7,846 shares in the last quarter. Institutional investors own 99.38% of the company’s stock.

Harmonic Price Performance

Shares of HLIT opened at $8.63 on Tuesday. The business’s 50-day moving average is $9.20 and its 200-day moving average is $9.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.99 and a quick ratio of 1.58. The company has a market capitalization of $976.03 million, a price-to-earnings ratio of 14.63 and a beta of 1.00. Harmonic Inc. has a fifty-two week low of $7.80 and a fifty-two week high of $15.46.

Harmonic (NASDAQ:HLIT) last released its quarterly earnings data on Monday, July 28th. The communications equipment provider reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.06. The firm had revenue of $138.03 million for the quarter, compared to analyst estimates of $134.90 million. Harmonic had a net margin of 9.96% and a return on equity of 17.83%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.08 EPS. Equities research analysts expect that Harmonic Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on HLIT shares. Wolfe Research assumed coverage on Harmonic in a research report on Tuesday, July 8th. They set an “underperform” rating on the stock. Needham & Company LLC cut their price objective on Harmonic from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, July 29th. Rosenblatt Securities reiterated a “buy” rating and issued a $11.00 target price on shares of Harmonic in a report on Tuesday, July 29th. Wall Street Zen downgraded shares of Harmonic from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Barclays reduced their price target on shares of Harmonic from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.67.

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.