Globeflex Capital L P Takes Position in Harmonic Inc. $HLIT

Globeflex Capital L P purchased a new stake in Harmonic Inc. (NASDAQ:HLIT) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 84,974 shares of the communications equipment provider’s stock, valued at approximately $840,000.

Other institutional investors also recently modified their holdings of the company. iSAM Funds UK Ltd bought a new stake in shares of Harmonic in the third quarter valued at about $49,000. Global Retirement Partners LLC increased 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 acquiring an additional 7,190 shares during the last quarter. KBC Group NV increased 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 acquiring an additional 4,236 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Harmonic by 23,297.5% in the third quarter. Russell Investments Group Ltd. now owns 9,359 shares of the communications equipment provider’s stock valued at $95,000 after acquiring an additional 9,319 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in shares of Harmonic in the fourth quarter valued at about $108,000. 99.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Weiss Ratings downgraded Harmonic from a “hold (c)” rating to a “sell (d)” rating in a research report on Friday, March 6th. Rosenblatt Securities lifted their target price on Harmonic from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Northland Securities set a $15.00 target price on Harmonic in a research report on Tuesday, May 12th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $15.00 target price on shares of Harmonic in a research report on Tuesday, May 12th. Finally, Wall Street Zen downgraded Harmonic from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.60.

Harmonic Price Performance

NASDAQ:HLIT opened at $14.61 on Friday. The stock’s 50-day simple moving average is $11.77 and its 200 day simple moving average is $10.58. The company has a market cap of $1.59 billion, a P/E ratio of -39.49 and a beta of 1.32. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.03 and a current ratio of 2.27. Harmonic Inc. has a 52-week low of $7.80 and a 52-week high of $17.68.

Insider Buying and Selling

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

Harmonic 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.