Systematic Financial Management LP Has $14.77 Million Stock Position in Harmonic Inc. (NASDAQ:HLIT)

Systematic Financial Management LP increased its holdings in shares of Harmonic Inc. (NASDAQ:HLIT) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,116,611 shares of the communications equipment provider’s stock after purchasing an additional 8,943 shares during the period. Systematic Financial Management LP owned approximately 0.96% of Harmonic worth $14,773,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in HLIT. Handelsbanken Fonder AB grew its stake in Harmonic by 2.6% in the fourth quarter. Handelsbanken Fonder AB now owns 36,100 shares of the communications equipment provider’s stock valued at $478,000 after acquiring an additional 900 shares during the period. Barclays PLC grew its stake in Harmonic by 0.7% in the fourth quarter. Barclays PLC now owns 203,300 shares of the communications equipment provider’s stock valued at $2,690,000 after acquiring an additional 1,324 shares during the period. Inspire Investing LLC grew its stake in Harmonic by 6.9% in the fourth quarter. Inspire Investing LLC now owns 30,154 shares of the communications equipment provider’s stock valued at $399,000 after acquiring an additional 1,944 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Harmonic by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,811 shares of the communications equipment provider’s stock valued at $831,000 after buying an additional 2,146 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Harmonic by 6.0% during the third quarter. Franklin Resources Inc. now owns 39,041 shares of the communications equipment provider’s stock valued at $538,000 after buying an additional 2,207 shares during the last quarter. Institutional investors and hedge funds own 99.38% of the company’s stock.

Harmonic Stock Performance

Shares of HLIT opened at $9.54 on Friday. The firm has a market cap of $1.08 billion, a PE ratio of 28.91 and a beta of 1.03. The stock’s fifty day moving average price is $9.34 and its two-hundred day moving average price is $11.05. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.18 and a quick ratio of 1.80. Harmonic Inc. has a 1 year low of $7.91 and a 1 year high of $15.46.

Harmonic (NASDAQ:HLIT) last released 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. Harmonic had a return on equity of 15.90% and a net margin of 5.78%. The company had revenue of $133.14 million for the quarter, compared to analyst estimates of $127.51 million. Harmonic’s revenue was up 9.1% on a year-over-year basis. On average, equities research analysts forecast that Harmonic Inc. will post 0.31 EPS for the current year.

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

Insider Activity at Harmonic

In related news, Director Daniel T. Whalen acquired 3,000 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were bought at an average cost 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 $89,726. This trade represents a 51.37% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.21% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on HLIT shares. Northland Securities cut their target price on Harmonic from $14.00 to $12.50 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th. StockNews.com raised Harmonic from a “hold” rating to a “buy” rating in a research report on Thursday, March 27th. Barclays reaffirmed an “underperform” rating on shares of Harmonic in a research report on Tuesday, April 29th. Rosenblatt Securities cut their price objective on Harmonic from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $14.00 price objective on shares of Harmonic in a research report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.33.

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.