SG Americas Securities LLC lowered its stake in shares of Harmonic Inc. (NASDAQ:HLIT – Free Report) by 65.6% in the first quarter, HoldingsChannel reports. The fund owned 22,886 shares of the communications equipment provider’s stock after selling 43,632 shares during the quarter. SG Americas Securities LLC’s holdings in Harmonic were worth $206,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of HLIT. Vanguard Group Inc. increased its position in Harmonic by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 12,022,963 shares of the communications equipment provider’s stock worth $118,907,000 after purchasing an additional 148,281 shares during the last quarter. State Street Corp increased its holdings in shares of Harmonic by 1.8% during the 4th quarter. State Street Corp now owns 4,471,187 shares of the communications equipment provider’s stock worth $44,220,000 after buying an additional 80,791 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Harmonic by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,485,105 shares of the communications equipment provider’s stock worth $34,468,000 after buying an additional 24,062 shares during the period. Alliancebernstein L.P. raised its position in shares of Harmonic by 2.9% in the 3rd quarter. Alliancebernstein L.P. now owns 2,406,945 shares of the communications equipment provider’s stock worth $24,503,000 after buying an additional 68,921 shares during the period. Finally, Marshall Wace LLP boosted its holdings in Harmonic by 10.8% in the third quarter. Marshall Wace LLP now owns 2,132,625 shares of the communications equipment provider’s stock valued at $21,710,000 after acquiring an additional 207,476 shares during the last quarter. 99.38% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
HLIT has been the subject of several research analyst reports. Rosenblatt Securities restated a “buy” rating and set a $20.00 price target on shares of Harmonic in a research note on Monday, June 15th. Needham & Company LLC boosted their target price on Harmonic from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Weiss Ratings lowered shares of Harmonic from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, July 2nd. Barclays lifted their price target on shares of Harmonic from $11.00 to $15.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 12th. Finally, Zacks Research raised shares of Harmonic from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Harmonic has a consensus rating of “Moderate Buy” and a consensus target price of $16.60.
Harmonic Stock Down 0.6%
Shares of Harmonic stock traded down $0.09 during trading hours on Friday, hitting $14.05. 1,033,927 shares of the company’s stock traded hands, compared to its average volume of 2,168,171. Harmonic Inc. has a twelve month low of $7.80 and a twelve month high of $17.68. The company has a market cap of $1.52 billion, a PE ratio of -37.97 and a beta of 1.29. The company has a quick ratio of 2.03, a current ratio of 2.27 and a debt-to-equity ratio of 0.31. The stock has a 50 day simple moving average of $14.21 and a 200-day simple moving average of $11.44.
Insider Buying and Selling
In other Harmonic news, Director Stephanie Copeland sold 4,300 shares of Harmonic stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $13.30, for a total transaction of $57,190.00. Following the sale, the director directly owned 20,752 shares in the company, valued at $276,001.60. The trade was a 17.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Neven Haltmayer sold 31,766 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $13.24, for a total value of $420,581.84. Following the completion of the transaction, the senior vice president directly owned 133,924 shares in the company, valued at approximately $1,773,153.76. The trade was a 19.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.74% of the stock is owned by company insiders.
Harmonic Profile
Harmonic Inc (NASDAQ:HLIT) is a leading provider of video delivery infrastructure that enables service providers, broadcasters and content owners to capture, process and distribute high‐quality video across broadcast, cable, satellite and IP networks. The company’s portfolio spans real‐time video compression solutions, including encoders and transcoders, as well as storage and server products designed for live production, playout and streaming on any device.
Harmonic’s product lines include cable edge QAM modules and set‐top video processing platforms for traditional pay‐TV operators, alongside cloud‐native software for over‐the‐top (OTT) delivery, origin servers and content delivery network (CDN) services.
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