Harmonic Inc. (NASDAQ:HLIT) Stake Raised by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP grew its position in Harmonic Inc. (NASDAQ:HLIT - Free Report) by 20.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 399,987 shares of the communications equipment provider's stock after purchasing an additional 66,754 shares during the period. Advantage Alpha Capital Partners LP owned approximately 0.34% of Harmonic worth $5,292,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of HLIT. AlphaQuest LLC raised its holdings in Harmonic by 14,765.9% in the fourth quarter. AlphaQuest LLC now owns 6,095 shares of the communications equipment provider's stock valued at $81,000 after buying an additional 6,054 shares during the period. KBC Group NV raised its stake in shares of Harmonic by 84.8% in the 4th quarter. KBC Group NV now owns 6,295 shares of the communications equipment provider's stock valued at $83,000 after acquiring an additional 2,888 shares during the period. Cibc World Markets Corp acquired a new position in shares of Harmonic during the 4th quarter valued at $137,000. Entropy Technologies LP acquired a new position in shares of Harmonic during the 4th quarter valued at $146,000. Finally, iSAM Funds UK Ltd purchased a new stake in Harmonic during the 3rd quarter worth $166,000. Hedge funds and other institutional investors own 99.38% of the company's stock.

Harmonic Stock Performance

Shares of NASDAQ HLIT traded down $0.06 during trading on Friday, reaching $9.71. The stock had a trading volume of 1,174,892 shares, compared to its average volume of 1,319,744. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.80 and a current ratio of 2.18. The stock has a market cap of $1.14 billion, a PE ratio of 29.43 and a beta of 0.87. Harmonic Inc. has a one year low of $8.42 and a one year high of $15.46. The firm's 50 day moving average price is $10.65 and its two-hundred day moving average price is $12.30.

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Harmonic (NASDAQ:HLIT - Get Free Report) last released its earnings results on Monday, February 10th. The communications equipment provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.01. Harmonic had a net margin of 5.78% and a return on equity of 15.90%. On average, research analysts forecast that Harmonic Inc. will post 0.31 earnings per share for the current fiscal year.

Harmonic declared that its board has approved a stock repurchase program on Monday, February 10th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the communications equipment provider to buy up to 15.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Walter Jankovic bought 12,000 shares of the stock in a transaction dated Wednesday, February 12th. The stock was bought at an average cost of $9.44 per share, with a total value of $113,280.00. Following the completion of the acquisition, the chief financial officer now owns 46,129 shares of the company's stock, valued at $435,457.76. This trade represents a 35.16 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nimrod Ben-Natan purchased 7,780 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The stock was bought at an average cost of $9.65 per share, for a total transaction of $75,077.00. Following the acquisition, the chief executive officer now owns 347,797 shares in the company, valued at approximately $3,356,241.05. The trade was a 2.29 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 32,780 shares of company stock worth $316,607 over the last quarter. 2.36% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

HLIT has been the topic of several research reports. Jefferies Financial Group assumed coverage on Harmonic in a research report on Friday, February 21st. They issued a "hold" rating on the stock. Barclays dropped their target price on Harmonic from $14.00 to $10.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 11th. Rosenblatt Securities decreased their price target on Harmonic from $16.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Needham & Company LLC dropped their price objective on shares of Harmonic from $18.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Finally, StockNews.com upgraded shares of Harmonic from a "hold" rating to a "buy" rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $12.50.

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.