Amundi Boosts Stock Holdings in Harmonic Inc. (NASDAQ:HLIT)

Amundi grew its position in Harmonic Inc. (NASDAQ:HLIT - Free Report) by 113.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,976 shares of the communications equipment provider's stock after purchasing an additional 38,230 shares during the quarter. Amundi owned about 0.06% of Harmonic worth $962,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Intech Investment Management LLC grew its stake in shares of Harmonic by 412.4% during the third quarter. Intech Investment Management LLC now owns 193,310 shares of the communications equipment provider's stock worth $2,817,000 after acquiring an additional 155,580 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Harmonic by 3.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,036,729 shares of the communications equipment provider's stock worth $15,105,000 after purchasing an additional 34,405 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its position in Harmonic by 147.2% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 36,345 shares of the communications equipment provider's stock worth $530,000 after purchasing an additional 21,643 shares during the last quarter. FMR LLC increased its stake in Harmonic by 2,191.7% during the 3rd quarter. FMR LLC now owns 152,401 shares of the communications equipment provider's stock valued at $2,220,000 after purchasing an additional 145,751 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Harmonic by 23.5% in the third quarter. BNP Paribas Financial Markets now owns 58,108 shares of the communications equipment provider's stock worth $847,000 after buying an additional 11,051 shares during the last quarter. 99.38% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Needham & Company LLC dropped their price objective on shares of Harmonic from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Jefferies Financial Group began coverage on Harmonic in a report on Friday, February 21st. They issued a "hold" rating on the stock. Barclays reduced their price objective on Harmonic from $14.00 to $10.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 11th. StockNews.com lowered Harmonic from a "buy" rating to a "hold" rating in a research report on Wednesday. Finally, Rosenblatt Securities reduced their price target on shares of Harmonic from $16.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.50.

Harmonic Stock Performance

Harmonic stock traded down $0.15 during midday trading on Friday, hitting $10.19. 1,553,955 shares of the company were exchanged, compared to its average volume of 1,278,855. The business has a fifty day simple moving average of $10.90 and a two-hundred day simple moving average of $12.42. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.80 and a current ratio of 2.18. The firm has a market capitalization of $1.19 billion, a PE ratio of 30.88 and a beta of 0.87. Harmonic Inc. has a fifty-two week low of $8.42 and a fifty-two week high of $15.46.

Harmonic (NASDAQ:HLIT - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The communications equipment provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.37 by $0.01. Harmonic had a return on equity of 15.90% and a net margin of 5.78%. On average, sell-side analysts forecast that Harmonic Inc. will post 0.31 earnings per share for the current year.

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

Insider Activity at Harmonic

In other Harmonic news, CEO Nimrod Ben-Natan purchased 7,780 shares of the stock in a transaction on Thursday, February 13th. The shares were bought at an average price of $9.65 per share, for a total transaction of $75,077.00. Following the completion of the transaction, the chief executive officer now owns 347,797 shares of the company's stock, valued at $3,356,241.05. This trade represents a 2.29 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Walter Jankovic acquired 12,000 shares of the business's stock in a transaction dated Wednesday, February 12th. The stock was acquired at an average price of $9.44 per share, with a total value of $113,280.00. Following the completion of the transaction, the chief financial officer now directly owns 46,129 shares of the company's stock, valued at approximately $435,457.76. This represents a 35.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 32,780 shares of company stock worth $316,607. 2.36% of the stock is owned by company insiders.

About Harmonic

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.