Wasatch Advisors LP Acquires 219,685 Shares of Harmonic Inc. (NASDAQ:HLIT)

Wasatch Advisors LP raised its stake in Harmonic Inc. (NASDAQ:HLIT - Free Report) by 15.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,659,823 shares of the communications equipment provider's stock after purchasing an additional 219,685 shares during the period. Wasatch Advisors LP owned approximately 1.42% of Harmonic worth $24,184,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Harmonic by 1.7% during the first quarter. Vanguard Group Inc. now owns 9,852,064 shares of the communications equipment provider's stock valued at $132,412,000 after purchasing an additional 166,018 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Harmonic by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,741,998 shares of the communications equipment provider's stock valued at $44,043,000 after buying an additional 294,922 shares in the last quarter. Leeward Investments LLC MA raised its position in Harmonic by 5.6% in the second quarter. Leeward Investments LLC MA now owns 1,975,966 shares of the communications equipment provider's stock worth $23,257,000 after purchasing an additional 105,162 shares in the last quarter. Clearline Capital LP boosted its holdings in Harmonic by 777.6% during the second quarter. Clearline Capital LP now owns 1,570,461 shares of the communications equipment provider's stock valued at $18,484,000 after purchasing an additional 1,391,504 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Harmonic by 117.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,187,528 shares of the communications equipment provider's stock valued at $17,302,000 after buying an additional 642,033 shares in the last quarter. 99.38% of the stock is owned by institutional investors.

Harmonic Trading Up 2.1 %

NASDAQ:HLIT traded up $0.26 on Friday, hitting $12.82. 465,832 shares of the stock were exchanged, compared to its average volume of 1,012,958. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.62 and a current ratio of 2.08. Harmonic Inc. has a 52 week low of $9.10 and a 52 week high of $15.46. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 17.56 and a beta of 0.89. The company's 50-day moving average price is $13.14 and its 200 day moving average price is $12.83.

Harmonic (NASDAQ:HLIT - Get Free Report) last released its earnings results on Monday, October 28th. The communications equipment provider reported $0.26 EPS for the quarter, topping 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 firm 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) EPS. The business's quarterly revenue was up 53.9% compared to the same quarter last year. On average, equities research analysts forecast that Harmonic Inc. will post 0.52 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on HLIT shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $18.00 target price on shares of Harmonic in a report on Tuesday, October 29th. Northland Securities decreased their price target on Harmonic from $16.00 to $14.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 29th. Jefferies Financial Group downgraded Harmonic from a "buy" rating to a "hold" rating and cut their price objective for the company from $14.00 to $12.50 in a research report on Tuesday, October 29th. Barclays reduced their price target on shares of Harmonic from $20.00 to $17.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 29th. Finally, Rosenblatt Securities dropped their target price on shares of Harmonic from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Tuesday, October 29th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Harmonic has a consensus rating of "Moderate Buy" and a consensus target price of $15.25.

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.