Yorktown Management & Research Co Inc Makes New Investment in Harmonic Inc. (NASDAQ:HLIT)

Yorktown Management & Research Co Inc acquired a new position in Harmonic Inc. (NASDAQ:HLIT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 26,000 shares of the communications equipment provider's stock, valued at approximately $344,000.

A number of other large investors also recently modified their holdings of HLIT. GAMMA Investing LLC boosted its position in Harmonic by 117.6% in the third quarter. GAMMA Investing LLC now owns 2,448 shares of the communications equipment provider's stock worth $36,000 after purchasing an additional 1,323 shares during the last quarter. KBC Group NV boosted its stake in Harmonic by 84.8% in the 4th quarter. KBC Group NV now owns 6,295 shares of the communications equipment provider's stock worth $83,000 after purchasing an additional 2,888 shares during the period. CWM LLC grew its holdings in Harmonic by 274.2% during the 3rd quarter. CWM LLC now owns 8,439 shares of the communications equipment provider's stock valued at $123,000 after buying an additional 6,184 shares in the last quarter. iSAM Funds UK Ltd bought a new stake in shares of Harmonic during the third quarter valued at about $166,000. Finally, Captrust Financial Advisors lifted its holdings in shares of Harmonic by 14.9% in the third quarter. Captrust Financial Advisors now owns 12,671 shares of the communications equipment provider's stock worth $185,000 after buying an additional 1,647 shares in the last quarter. Institutional investors own 99.38% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $16.00 target price on shares of Harmonic in a research note on Tuesday. Needham & Company LLC reaffirmed a "buy" rating and issued a $18.00 target price on shares of Harmonic in a research note on Tuesday, October 29th. Barclays lowered shares of Harmonic from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $17.00 to $14.00 in a research report on Thursday, January 9th. Raymond James cut shares of Harmonic from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the company from $17.00 to $14.00 in a research report on Tuesday, October 29th. Finally, Northland Securities reduced their price objective on Harmonic from $16.00 to $14.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $14.75.

Harmonic Trading Down 1.9 %

HLIT stock traded down $0.22 during midday trading on Friday, hitting $11.13. The company had a trading volume of 1,196,213 shares, compared to its average volume of 907,712. The company has a current ratio of 2.08, a quick ratio of 1.62 and a debt-to-equity ratio of 0.29. Harmonic Inc. has a 52 week low of $9.10 and a 52 week high of $15.46. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 15.25 and a beta of 0.89. The stock's 50 day moving average price is $12.65 and its 200 day moving average price is $13.12.

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.