Harmonic Inc. $HLIT Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA trimmed its position in shares of Harmonic Inc. (NASDAQ:HLIT) by 2.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,699,702 shares of the communications equipment provider’s stock after selling 43,456 shares during the quarter. Leeward Investments LLC MA owned approximately 1.54% of Harmonic worth $15,263,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in HLIT. iSAM Funds UK Ltd acquired a new stake in Harmonic during the 3rd quarter worth $49,000. Global Retirement Partners LLC raised its position in shares of Harmonic by 23,193.5% in the fourth quarter. Global Retirement Partners LLC now owns 7,221 shares of the communications equipment provider’s stock valued at $71,000 after buying an additional 7,190 shares during the last quarter. KBC Group NV raised its position in shares of Harmonic by 130.7% in the fourth quarter. KBC Group NV now owns 7,476 shares of the communications equipment provider’s stock valued at $74,000 after buying an additional 4,236 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Harmonic by 64.6% in the fourth quarter. Royal Bank of Canada now owns 7,645 shares of the communications equipment provider’s stock worth $75,000 after buying an additional 3,000 shares in the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of Harmonic in the fourth quarter worth about $90,000. 99.38% of the stock is owned by institutional investors and hedge funds.

Harmonic Stock Performance

Harmonic stock opened at $14.66 on Wednesday. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of -39.62 and a beta of 1.32. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.27 and a quick ratio of 2.03. The firm has a 50 day simple moving average of $13.11 and a 200-day simple moving average of $11.05. Harmonic Inc. has a 1-year low of $7.80 and a 1-year high of $17.68.

Insider Buying and Selling at Harmonic

In other Harmonic news, Director Stephanie Copeland sold 4,300 shares of Harmonic stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $13.30, for a total transaction of $57,190.00. Following the completion of the sale, the director directly owned 20,752 shares in the company, valued at $276,001.60. This trade represents a 17.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Neven Haltmayer sold 31,766 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $13.24, for a total value of $420,581.84. Following the completion of the sale, the senior vice president directly owned 133,924 shares in the company, valued at approximately $1,773,153.76. The trade was a 19.17% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on HLIT. Rosenblatt Securities reiterated a “buy” rating and issued a $20.00 price objective on shares of Harmonic in a report on Monday, June 15th. Northland Securities set a $15.00 target price on Harmonic in a report on Tuesday, May 12th. Weiss Ratings upgraded Harmonic from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 17th. Wall Street Zen raised Harmonic from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 6th. Finally, Barclays lifted their price objective on Harmonic from $11.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $16.60.

Harmonic Company Profile

Harmonic Inc (NASDAQ:HLIT) is a leading provider of video delivery infrastructure that enables service providers, broadcasters and content owners to capture, process and distribute high?quality video across broadcast, cable, satellite and IP networks. The company’s portfolio spans real?time video compression solutions, including encoders and transcoders, as well as storage and server products designed for live production, playout and streaming on any device.

Harmonic’s product lines include cable edge QAM modules and set?top video processing platforms for traditional pay?TV operators, alongside cloud?native software for over?the?top (OTT) delivery, origin servers and content delivery network (CDN) services.