Vontobel Holding Ltd. Takes $344,000 Position in Harmonic Inc. (NASDAQ:HLIT)

Vontobel Holding Ltd. acquired a new stake in Harmonic Inc. (NASDAQ:HLIT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 26,413 shares of the communications equipment provider’s stock, valued at approximately $344,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of Harmonic during the 3rd quarter valued at about $299,000. Exchange Traded Concepts LLC purchased a new stake in shares of Harmonic during the 3rd quarter valued at about $522,000. Harbor Capital Advisors Inc. raised its holdings in shares of Harmonic by 41.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 27,212 shares of the communications equipment provider’s stock valued at $262,000 after buying an additional 7,962 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Harmonic by 551.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 122,937 shares of the communications equipment provider’s stock valued at $1,184,000 after buying an additional 104,061 shares during the period. Finally, Inspire Investing LLC raised its holdings in shares of Harmonic by 65.8% during the 3rd quarter. Inspire Investing LLC now owns 32,184 shares of the communications equipment provider’s stock valued at $310,000 after buying an additional 12,778 shares during the period. 99.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Harmonic

In related news, SVP Neven Haltmayer sold 24,695 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $11.58, for a total transaction of $285,968.10. Following the completion of the transaction, the senior vice president now owns 181,864 shares in the company, valued at approximately $2,105,985.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Neven Haltmayer sold 24,695 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $11.58, for a total transaction of $285,968.10. Following the completion of the transaction, the senior vice president now owns 181,864 shares in the company, valued at approximately $2,105,985.12. The transaction was disclosed in a legal filing 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 that occurred on Monday, February 5th. The shares were sold at an average price of $12.91, for a total value of $1,291,000.00. Following the transaction, the senior vice president now owns 302,214 shares of the company’s stock, valued at approximately $3,901,582.74. The disclosure for this sale can be found here. Insiders sold 150,000 shares of company stock worth $1,917,122 in the last 90 days. 2.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on HLIT shares. Raymond James dropped their target price on Harmonic from $19.00 to $18.00 and set a “strong-buy” rating on the stock in a report on Tuesday, January 30th. Needham & Company LLC restated a “buy” rating and set a $18.00 price objective on shares of Harmonic in a report on Wednesday, April 17th. Rosenblatt Securities dropped their price objective on Harmonic from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, January 30th. TheStreet upgraded Harmonic from a “c” rating to a “b” rating in a report on Monday, January 29th. Finally, StockNews.com upgraded Harmonic from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Harmonic has a consensus rating of “Buy” and a consensus price target of $17.20.

Harmonic Price Performance

Shares of HLIT opened at $9.58 on Wednesday. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 13.49 and a beta of 0.84. The stock has a 50 day moving average of $12.60 and a 200-day moving average of $11.77. The company has a current ratio of 1.21, a quick ratio of 0.91 and a debt-to-equity ratio of 0.02. Harmonic Inc. has a 52 week low of $8.80 and a 52 week high of $18.43.

Harmonic (NASDAQ:HLIT) last issued 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. The company had revenue of $167.10 million during the quarter, compared to analyst estimates of $158.98 million. Harmonic had a return on equity of 4.71% and a net margin of 13.82%. The business’s revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.12 EPS. As a group, analysts forecast that Harmonic Inc. will post 0.32 EPS for the current year.

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.