Systematic Financial Management LP Buys 118,377 Shares of Harmonic Inc. (NASDAQ:HLIT)

Systematic Financial Management LP raised its holdings in Harmonic Inc. (NASDAQ:HLIT - Free Report) by 12.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,107,668 shares of the communications equipment provider's stock after buying an additional 118,377 shares during the period. Systematic Financial Management LP owned about 0.95% of Harmonic worth $16,139,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. CWM LLC grew its holdings in Harmonic by 780.9% during the second quarter. CWM LLC now owns 2,255 shares of the communications equipment provider's stock worth $27,000 after buying an additional 1,999 shares in the last quarter. GAMMA Investing LLC grew its stake 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 acquiring an additional 1,323 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Harmonic in the second quarter valued at about $47,000. Verdence Capital Advisors LLC purchased a new stake in shares of Harmonic in the second quarter valued at about $140,000. Finally, Captrust Financial Advisors lifted its position in shares of Harmonic by 14.9% during the third quarter. Captrust Financial Advisors now owns 12,671 shares of the communications equipment provider's stock valued at $185,000 after purchasing an additional 1,647 shares in the last quarter. 99.38% of the stock is currently owned by institutional investors and hedge funds.

Harmonic Stock Performance

Harmonic stock traded up $0.06 during midday trading on Friday, reaching $12.89. The stock had a trading volume of 362,805 shares, compared to its average volume of 1,471,111. The firm has a market capitalization of $1.50 billion, a PE ratio of 17.66 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 has a quick ratio of 1.62, a current ratio of 2.08 and a debt-to-equity ratio of 0.29. The firm's 50-day moving average price is $12.99 and its 200 day moving average price is $12.87.

Harmonic (NASDAQ:HLIT - Get Free Report) last posted its quarterly 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. The company had revenue of $195.80 million for the quarter, compared to analyst estimates of $181.77 million. Harmonic had a net margin of 13.62% and a return on equity of 7.56%. The company's quarterly revenue was up 53.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. As a group, research analysts predict that Harmonic Inc. will post 0.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on HLIT shares. Northland Securities decreased their price objective on shares of Harmonic from $16.00 to $14.00 and set an "outperform" rating for the company in a research note on Tuesday, October 29th. Raymond James downgraded Harmonic from a "strong-buy" rating to an "outperform" rating and decreased their price target for the company from $17.00 to $14.00 in a research report on Tuesday, October 29th. Rosenblatt Securities dropped their price target on Harmonic from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Tuesday, October 29th. Barclays reduced their price objective on Harmonic from $20.00 to $17.00 and set an "overweight" rating for the company in a research note on Tuesday, October 29th. Finally, Jefferies Financial Group lowered 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. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $15.25.

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.