International Assets Investment Management LLC Acquires Shares of 41,663 Harmonic Inc. (NASDAQ:HLIT)

International Assets Investment Management LLC acquired a new stake in shares of Harmonic Inc. (NASDAQ:HLIT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 41,663 shares of the communications equipment provider’s stock, valued at approximately $543,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Silverberg Bernstein Capital Management LLC bought a new stake in shares of Harmonic in the fourth quarter worth approximately $10,481,000. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Harmonic by 551.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 122,937 shares of the communications equipment provider’s stock worth $1,184,000 after buying an additional 104,061 shares during the last quarter. DigitalBridge Group Inc. boosted its holdings in shares of Harmonic by 126.4% in the third quarter. DigitalBridge Group Inc. now owns 932,096 shares of the communications equipment provider’s stock worth $8,976,000 after buying an additional 520,369 shares during the last quarter. Jupiter Asset Management Ltd. boosted its holdings in shares of Harmonic by 247.7% in the third quarter. Jupiter Asset Management Ltd. now owns 168,194 shares of the communications equipment provider’s stock worth $1,620,000 after buying an additional 119,815 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Harmonic by 9.9% in the third quarter. Vanguard Group Inc. now owns 9,396,603 shares of the communications equipment provider’s stock worth $90,489,000 after buying an additional 847,808 shares during the last quarter. 99.38% of the stock is currently owned by institutional investors.

Harmonic Price Performance

HLIT stock opened at $9.20 on Friday. Harmonic Inc. has a one year low of $8.80 and a one year high of $18.43. The company’s fifty day moving average price is $12.43 and its 200-day moving average price is $11.76. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.91 and a current ratio of 1.21. The company has a market capitalization of $1.03 billion, a PE ratio of 12.96 and a beta of 0.84.

Harmonic (NASDAQ:HLIT) last released its earnings results on Monday, January 29th. The communications equipment provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.10 by $0.03. Harmonic had a net margin of 13.82% and a return on equity of 4.71%. The firm had revenue of $167.10 million for the quarter, compared to the consensus estimate of $158.98 million. During the same quarter in the previous year, the firm earned $0.12 earnings per share. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, equities analysts anticipate that Harmonic Inc. will post 0.32 EPS for the current fiscal year.

Insider Transactions at Harmonic

In related news, SVP Neven Haltmayer sold 14,747 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $13.68, for a total value of $201,738.96. Following the sale, the senior vice president now owns 156,559 shares in the company, valued at $2,141,727.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Neven Haltmayer sold 14,747 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $13.68, for a total value of $201,738.96. Following the sale, the senior vice president now owns 156,559 shares in the company, valued at $2,141,727.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Nimrod Ben-Natan sold 100,000 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $12.91, for a total transaction of $1,291,000.00. Following the completion of the sale, the senior vice president now owns 302,214 shares in the company, valued at approximately $3,901,582.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 150,000 shares of company stock valued at $1,917,122. 2.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

HLIT has been the topic of a number of research reports. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of Harmonic in a report on Wednesday, April 17th. StockNews.com raised shares of Harmonic from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. Rosenblatt Securities dropped their price objective on shares of Harmonic from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, January 30th. Raymond James lowered their price target on shares of Harmonic from $19.00 to $18.00 and set a “strong-buy” rating on the stock in a report on Tuesday, January 30th. Finally, TheStreet raised shares of Harmonic from a “c” rating to a “b” rating in a report on Monday, January 29th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Harmonic currently has a consensus rating of “Buy” and a consensus target price of $17.20.

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.