Leeward Investments LLC MA Reduces Stake in Harmonic Inc. (NASDAQ:HLIT)

Leeward Investments LLC MA lowered its position in Harmonic Inc. (NASDAQ:HLIT) by 0.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,952,658 shares of the communications equipment provider’s stock after selling 15,860 shares during the period. Harmonic accounts for approximately 1.2% of Leeward Investments LLC MA’s portfolio, making the stock its 11th biggest position. Leeward Investments LLC MA’s holdings in Harmonic were worth $25,463,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in Harmonic in the third quarter valued at approximately $299,000. Exchange Traded Concepts LLC acquired a new position in Harmonic in the third quarter valued at approximately $522,000. Harbor Capital Advisors Inc. lifted its holdings in Harmonic by 41.4% in the third quarter. Harbor Capital Advisors Inc. now owns 27,212 shares of the communications equipment provider’s stock valued at $262,000 after acquiring an additional 7,962 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in 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 valued at $1,184,000 after acquiring an additional 104,061 shares during the period. Finally, Inspire Investing LLC lifted its holdings in Harmonic by 65.8% in the third quarter. Inspire Investing LLC now owns 32,184 shares of the communications equipment provider’s stock valued at $310,000 after acquiring an additional 12,778 shares during the period. Hedge funds and other institutional investors own 99.38% of the company’s stock.

Harmonic Price Performance

Shares of HLIT opened at $9.20 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.91 and a current ratio of 1.21. Harmonic Inc. has a one year low of $8.80 and a one year high of $18.43. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 12.96 and a beta of 0.84. The stock has a 50 day moving average price of $12.25 and a 200 day moving average price of $11.74.

Harmonic (NASDAQ:HLIT) last issued its quarterly 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 return on equity of 4.71% and a net margin of 13.82%. The firm had revenue of $167.10 million during the quarter, compared to analysts’ expectations of $158.98 million. During the same period in the previous year, the business earned $0.12 earnings per share. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. Equities research analysts forecast that Harmonic Inc. will post 0.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price target on shares of Harmonic in a report on Wednesday, April 17th. Rosenblatt Securities reduced their target price on Harmonic from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, January 30th. StockNews.com raised Harmonic from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. TheStreet raised Harmonic from a “c” rating to a “b” rating in a research note on Monday, January 29th. Finally, Raymond James reduced their target price on Harmonic from $19.00 to $18.00 and set a “strong-buy” rating for the company in a research note on Tuesday, January 30th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $17.20.

Insider Buying and Selling

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 sale, the senior vice president now directly owns 181,864 shares in the company, valued at $2,105,985.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Harmonic news, SVP Neven Haltmayer sold 24,695 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $11.58, for a total value of $285,968.10. Following the completion of the sale, the senior vice president now directly owns 181,864 shares in the company, valued at approximately $2,105,985.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Nimrod Ben-Natan sold 100,000 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now owns 302,214 shares of the company’s stock, valued at $3,901,582.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 150,000 shares of company stock worth $1,917,122. 2.20% of the stock is owned by corporate 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.