26,000 Shares in Harmonic Inc. (NASDAQ:HLIT) Purchased by Yorktown Management & Research Co Inc

Yorktown Management & Research Co Inc bought a new position in shares of Harmonic Inc. (NASDAQ:HLIT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 26,000 shares of the communications equipment provider’s stock, valued at approximately $344,000.

A number of other institutional investors also recently bought and sold shares of HLIT. Geode Capital Management LLC raised its stake in shares of Harmonic by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,675,268 shares of the communications equipment provider’s stock valued at $38,986,000 after acquiring an additional 17,665 shares during the period. Wasatch Advisors LP raised its stake in shares of Harmonic by 15.3% in the 3rd quarter. Wasatch Advisors LP now owns 1,659,823 shares of the communications equipment provider’s stock valued at $24,184,000 after acquiring an additional 219,685 shares during the period. Point72 Asset Management L.P. raised its stake in shares of Harmonic by 85.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,208,829 shares of the communications equipment provider’s stock valued at $17,613,000 after acquiring an additional 555,737 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Harmonic by 117.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,187,528 shares of the communications equipment provider’s stock valued at $17,302,000 after acquiring an additional 642,033 shares during the period. Finally, Systematic Financial Management LP raised its stake in shares of Harmonic by 12.0% in the 3rd quarter. Systematic Financial Management LP now owns 1,107,668 shares of the communications equipment provider’s stock valued at $16,139,000 after acquiring an additional 118,377 shares during the period. 99.38% of the stock is owned by hedge funds and other institutional investors.

Harmonic Trading Up 1.7 %

NASDAQ HLIT opened at $11.19 on Wednesday. The company has a quick ratio of 1.62, a current ratio of 2.08 and a debt-to-equity ratio of 0.29. Harmonic Inc. has a 52 week low of $9.10 and a 52 week high of $15.46. The stock has a market capitalization of $1.30 billion, a PE ratio of 15.33 and a beta of 0.89. The firm has a 50 day moving average of $12.73 and a two-hundred day moving average of $13.16.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Northland Securities dropped their price objective on shares of Harmonic from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Tuesday, October 29th. Rosenblatt Securities restated a “buy” rating and issued a $16.00 price objective on shares of Harmonic in a report on Tuesday. Barclays cut shares of Harmonic from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $17.00 to $14.00 in a report on Thursday, January 9th. Needham & Company LLC restated a “buy” rating and issued a $18.00 price objective on shares of Harmonic in a report on Tuesday, October 29th. Finally, Raymond James cut shares of Harmonic from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $17.00 to $14.00 in a report on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $14.75.

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.