Advantage Alpha Capital Partners LP Decreases Stock Holdings in Harmonic Inc. (NASDAQ:HLIT)

Advantage Alpha Capital Partners LP reduced its position in shares of Harmonic Inc. (NASDAQ:HLIT - Free Report) by 14.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 333,233 shares of the communications equipment provider's stock after selling 56,352 shares during the quarter. Advantage Alpha Capital Partners LP owned 0.29% of Harmonic worth $4,855,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. CWM LLC increased its position in Harmonic by 780.9% in 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 raised its stake in Harmonic by 117.6% during 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 during the period. Innealta Capital LLC bought a new position in shares of Harmonic in the second quarter worth approximately $47,000. Verdence Capital Advisors LLC bought a new position in shares of Harmonic in the second quarter worth approximately $140,000. Finally, Versor Investments LP purchased a new stake in shares of Harmonic in the third quarter worth $227,000. 99.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HLIT. Jefferies Financial Group downgraded shares of Harmonic from a "buy" rating to a "hold" rating and dropped their target price for the stock from $14.00 to $12.50 in a report on Tuesday, October 29th. Raymond James lowered 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. Needham & Company LLC reissued a "buy" rating and set a $18.00 target price on shares of Harmonic in a research note on Tuesday, October 29th. 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 note on Tuesday, October 29th. Finally, Barclays reduced their price objective 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. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Harmonic has a consensus rating of "Moderate Buy" and a consensus price target of $15.25.

Harmonic Trading Up 0.7 %

HLIT stock traded up $0.09 during midday trading on Tuesday, reaching $12.48. The company's stock had a trading volume of 540,883 shares, compared to its average volume of 1,498,050. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 17.00 and a beta of 0.89. Harmonic Inc. has a 1 year low of $9.10 and a 1 year high of $15.46. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.62 and a current ratio of 2.08. The stock has a fifty day simple moving average of $13.24 and a two-hundred day simple moving average of $12.81.

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