Bouvel Investment Partners LLC Buys Shares of 120,524 Harmonic Inc. (NASDAQ:HLIT)

Bouvel Investment Partners LLC purchased a new stake in shares of Harmonic Inc. (NASDAQ:HLIT - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 120,524 shares of the communications equipment provider's stock, valued at approximately $1,756,000. Bouvel Investment Partners LLC owned approximately 0.10% of Harmonic at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of Harmonic by 117.6% in the 3rd 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. Dark Forest Capital Management LP boosted its holdings in shares of Harmonic by 7.2% during the second quarter. Dark Forest Capital Management LP now owns 20,192 shares of the communications equipment provider's stock valued at $238,000 after acquiring an additional 1,362 shares during the period. Rhumbline Advisers grew its position in shares of Harmonic by 0.4% during the second quarter. Rhumbline Advisers now owns 320,516 shares of the communications equipment provider's stock worth $3,772,000 after acquiring an additional 1,382 shares during the last quarter. Texas Permanent School Fund Corp lifted its position in Harmonic by 1.5% in the 1st quarter. Texas Permanent School Fund Corp now owns 98,377 shares of the communications equipment provider's stock valued at $1,322,000 after purchasing an additional 1,462 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in Harmonic by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 22,256 shares of the communications equipment provider's stock valued at $299,000 after purchasing an additional 1,532 shares during the period. 99.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on HLIT shares. Raymond James cut Harmonic from a "strong-buy" rating to an "outperform" rating and cut their price target for the company from $17.00 to $14.00 in a report on Tuesday, October 29th. Needham & Company LLC reiterated a "buy" rating and issued a $18.00 price objective on shares of Harmonic in a report on Tuesday, October 29th. Rosenblatt Securities lowered their price objective on shares of Harmonic from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Tuesday, October 29th. Northland Securities cut their target price on Harmonic from $16.00 to $14.00 and set an "outperform" rating for the company in a research report on Tuesday, October 29th. Finally, Barclays dropped their price objective on Harmonic from $20.00 to $17.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $15.25.

Harmonic Trading Down 1.1 %

Shares of NASDAQ HLIT traded down $0.14 during mid-day trading on Thursday, hitting $12.18. 173,029 shares of the company traded hands, compared to its average volume of 1,514,786. 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 stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 16.88 and a beta of 0.89. The business has a 50 day moving average of $13.46 and a two-hundred day moving average of $12.72.

Harmonic (NASDAQ:HLIT - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The communications equipment provider reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.09. Harmonic had a net margin of 13.62% and a return on equity of 7.56%. The company had revenue of $195.80 million during the quarter, compared to analyst estimates of $181.77 million. During the same period in the prior year, the firm earned ($0.05) earnings per share. The business's quarterly revenue was up 53.9% on a year-over-year basis. On average, sell-side analysts anticipate that Harmonic Inc. will post 0.52 earnings per share for the current fiscal 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.