Dean Investment Associates LLC Grows Stock Holdings in Harmonic Inc. (NASDAQ:HLIT)

Dean Investment Associates LLC lifted its stake in Harmonic Inc. (NASDAQ:HLIT - Free Report) by 137.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 164,973 shares of the communications equipment provider's stock after buying an additional 95,428 shares during the quarter. Dean Investment Associates LLC owned approximately 0.14% of Harmonic worth $2,404,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. iSAM Funds UK Ltd purchased a new stake in Harmonic in the 3rd quarter worth $166,000. Jane Street Group LLC increased its holdings in shares of Harmonic by 40.3% in the third quarter. Jane Street Group LLC now owns 201,386 shares of the communications equipment provider's stock worth $2,934,000 after purchasing an additional 57,888 shares during the last quarter. Systematic Financial Management LP lifted its position in shares of Harmonic by 12.0% in the third quarter. Systematic Financial Management LP now owns 1,107,668 shares of the communications equipment provider's stock worth $16,139,000 after buying an additional 118,377 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Harmonic in the third quarter worth about $297,000. Finally, Point72 Asset Management L.P. boosted its stake in Harmonic by 85.1% during the third quarter. Point72 Asset Management L.P. now owns 1,208,829 shares of the communications equipment provider's stock valued at $17,613,000 after buying an additional 555,737 shares during the last quarter. Institutional investors own 99.38% of the company's stock.

Wall Street Analysts Forecast Growth

HLIT has been the topic of a number of research reports. Barclays reduced 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. Needham & Company LLC reaffirmed a "buy" rating and set a $18.00 price target on shares of Harmonic in a research note on Tuesday, October 29th. Raymond James cut shares of Harmonic from a "strong-buy" rating to an "outperform" rating and dropped their price objective for the stock from $17.00 to $14.00 in a research note on Tuesday, October 29th. Jefferies Financial Group cut shares of Harmonic from a "buy" rating to a "hold" rating and decreased their target price for the company from $14.00 to $12.50 in a research report on Tuesday, October 29th. Finally, Northland Securities dropped their price target on Harmonic from $16.00 to $14.00 and set an "outperform" rating for the company in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Harmonic has an average rating of "Moderate Buy" and an average target price of $15.25.

Harmonic Trading Up 0.9 %

Shares of HLIT stock traded up $0.11 during trading hours on Monday, reaching $13.00. 675,972 shares of the stock were exchanged, compared to its average volume of 1,467,756. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 17.81 and a beta of 0.92. Harmonic Inc. has a 12-month low of $9.10 and a 12-month high of $15.46. The company's 50-day moving average price is $12.96 and its 200-day moving average price is $12.90. 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 (NASDAQ:HLIT - Get Free Report) last announced its earnings results on Monday, October 28th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.09. Harmonic had a return on equity of 7.56% and a net margin of 13.62%. The business had revenue of $195.80 million during the quarter, compared to analyst estimates of $181.77 million. During the same quarter in the previous year, the business earned ($0.05) earnings per share. The company's revenue for the quarter was up 53.9% compared to the same quarter last year. As a group, equities analysts anticipate 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.