Lisanti Capital Growth LLC Buys Shares of 200,075 Harmonic Inc. (NASDAQ:HLIT)

Lisanti Capital Growth LLC bought a new position in Harmonic Inc. (NASDAQ:HLIT - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 200,075 shares of the communications equipment provider's stock, valued at approximately $2,915,000. Lisanti Capital Growth LLC owned about 0.17% of Harmonic at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HLIT. Jane Street Group LLC grew its position in shares of Harmonic by 1,276.3% in the 1st quarter. Jane Street Group LLC now owns 1,203,297 shares of the communications equipment provider's stock valued at $16,172,000 after acquiring an additional 1,115,870 shares during the period. Assenagon Asset Management S.A. raised its holdings in Harmonic by 216.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 545,495 shares of the communications equipment provider's stock valued at $6,420,000 after acquiring an additional 373,155 shares during the period. Russell Investments Group Ltd. increased its holdings in Harmonic by 24.0% in the 1st quarter. Russell Investments Group Ltd. now owns 290,842 shares of the communications equipment provider's stock worth $3,909,000 after buying an additional 56,269 shares in the last quarter. Silvercrest Asset Management Group LLC bought a new position in shares of Harmonic during the 1st quarter valued at approximately $8,295,000. Finally, Intech Investment Management LLC purchased a new stake in Harmonic in the second quarter worth $444,000. Institutional investors and hedge funds own 99.38% of the company's stock.

Wall Street Analyst Weigh In

HLIT has been the subject of several research reports. Rosenblatt Securities dropped their price target on Harmonic from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Tuesday, October 29th. Raymond James cut shares of Harmonic from a "strong-buy" rating to an "outperform" rating and decreased their price objective for the stock from $17.00 to $14.00 in a research note on Tuesday, October 29th. Northland Securities lowered their target price on Harmonic from $16.00 to $14.00 and set an "outperform" rating for the company in a research note on Tuesday, October 29th. Jefferies Financial Group lowered shares of Harmonic from a "buy" rating to a "hold" rating and lowered their target price for the stock from $14.00 to $12.50 in a report on Tuesday, October 29th. Finally, Needham & Company LLC restated a "buy" rating and set a $18.00 price objective on shares of Harmonic in a report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $15.25.

Harmonic Stock Up 4.1 %

Shares of Harmonic stock traded up $0.49 during trading on Monday, reaching $12.54. The company's stock had a trading volume of 988,009 shares, compared to its average volume of 1,524,678. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 16.51 and a beta of 0.89. The company has a quick ratio of 1.62, a current ratio of 2.08 and a debt-to-equity ratio of 0.29. Harmonic Inc. has a 1-year low of $9.10 and a 1-year high of $15.46. The company has a 50-day simple moving average of $13.56 and a two-hundred day simple moving average of $12.67.

Harmonic (NASDAQ:HLIT - Get Free Report) last posted its earnings results on Monday, October 28th. The communications equipment provider reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.09. Harmonic had a net margin of 13.62% and a return on equity of 7.56%. The firm had revenue of $195.80 million during the quarter, compared to the consensus estimate of $181.77 million. During the same quarter last year, the firm earned ($0.05) EPS. The firm's revenue for the quarter was up 53.9% on a year-over-year basis. As a group, equities analysts forecast that Harmonic Inc. will post 0.52 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.