Harmonic Inc. (NASDAQ:HLIT) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC lifted its position in Harmonic Inc. (NASDAQ:HLIT - Free Report) by 128.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 441,356 shares of the communications equipment provider's stock after acquiring an additional 248,046 shares during the period. Intech Investment Management LLC owned 0.38% of Harmonic worth $5,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Harmonic by 3.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,036,729 shares of the communications equipment provider's stock valued at $15,105,000 after acquiring an additional 34,405 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its position in Harmonic by 147.2% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 36,345 shares of the communications equipment provider's stock worth $530,000 after purchasing an additional 21,643 shares during the period. FMR LLC raised its stake in shares of Harmonic by 2,191.7% during the 3rd quarter. FMR LLC now owns 152,401 shares of the communications equipment provider's stock valued at $2,220,000 after buying an additional 145,751 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Harmonic by 23.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 58,108 shares of the communications equipment provider's stock valued at $847,000 after buying an additional 11,051 shares during the period. Finally, Captrust Financial Advisors boosted its stake in shares of Harmonic by 14.9% in the third quarter. Captrust Financial Advisors now owns 12,671 shares of the communications equipment provider's stock worth $185,000 after buying an additional 1,647 shares during the last quarter. Institutional investors and hedge funds own 99.38% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts have commented on HLIT shares. Northland Securities lowered their price objective on Harmonic from $14.00 to $12.50 and set an "outperform" rating on the stock in a research report on Tuesday, February 11th. Jefferies Financial Group started coverage on shares of Harmonic in a research report on Friday, February 21st. They issued a "hold" rating for the company. Needham & Company LLC lowered their target price 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. Barclays cut their price target on Harmonic from $14.00 to $10.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 11th. Finally, Rosenblatt Securities decreased their target price on Harmonic from $16.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $12.50.

Harmonic Trading Down 1.5 %

Shares of NASDAQ HLIT traded down $0.15 during trading on Friday, hitting $10.19. 1,553,955 shares of the company were exchanged, compared to its average volume of 1,278,855. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.80 and a current ratio of 2.18. Harmonic Inc. has a 12-month low of $8.42 and a 12-month high of $15.46. The company has a fifty day moving average price of $10.90 and a 200-day moving average price of $12.42. The firm has a market capitalization of $1.19 billion, a PE ratio of 30.88 and a beta of 0.87.

Harmonic (NASDAQ:HLIT - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The communications equipment provider reported $0.38 EPS 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%. As a group, equities research analysts expect that Harmonic Inc. will post 0.31 EPS for the current year.

Harmonic declared that its Board of Directors has approved a share repurchase plan on Monday, February 10th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the communications equipment provider to repurchase up to 15.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at Harmonic

In related news, Director Daniel T. Whalen bought 3,000 shares of the stock in a transaction on Monday, February 24th. The stock was bought at an average price of $10.15 per share, with a total value of $30,450.00. Following the completion of the purchase, the director now directly owns 8,840 shares in the company, valued at $89,726. This represents a 51.37 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Walter Jankovic acquired 12,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were bought at an average cost of $9.44 per share, with a total value of $113,280.00. Following the transaction, the chief financial officer now directly owns 46,129 shares in the company, valued at $435,457.76. This trade represents a 35.16 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 32,780 shares of company stock worth $316,607. 2.36% of the stock is currently owned by company insiders.

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.