Harmonic Inc. (NASDAQ:HLIT) Stock Holdings Lifted by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP lifted its holdings in shares of Harmonic Inc. (NASDAQ:HLIT) by 20.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 399,987 shares of the communications equipment provider’s stock after buying an additional 66,754 shares during the period. Advantage Alpha Capital Partners LP owned 0.34% of Harmonic worth $5,292,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. AlphaQuest LLC grew its holdings in shares of Harmonic by 14,765.9% during the fourth quarter. AlphaQuest LLC now owns 6,095 shares of the communications equipment provider’s stock valued at $81,000 after purchasing an additional 6,054 shares during the last quarter. KBC Group NV grew its stake in Harmonic by 84.8% during the 4th quarter. KBC Group NV now owns 6,295 shares of the communications equipment provider’s stock worth $83,000 after buying an additional 2,888 shares during the last quarter. Cibc World Markets Corp acquired a new stake in Harmonic in the fourth quarter worth $137,000. Entropy Technologies LP acquired a new position in shares of Harmonic during the fourth quarter valued at $146,000. Finally, iSAM Funds UK Ltd bought a new position in shares of Harmonic during the third quarter worth about $166,000. Institutional investors and hedge funds own 99.38% of the company’s stock.

Harmonic Trading Down 1.5 %

Shares of NASDAQ HLIT opened at $10.19 on Monday. The business has a fifty day simple moving average of $10.90 and a 200-day simple moving average of $12.41. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 30.88 and a beta of 0.87. Harmonic Inc. has a 12 month low of $8.42 and a 12 month high of $15.46. The company has a quick ratio of 1.80, a current ratio of 2.18 and a debt-to-equity ratio of 0.26.

Harmonic (NASDAQ:HLIT) last announced its earnings results on Monday, February 10th. The communications equipment provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.37 by $0.01. Harmonic had a net margin of 5.78% and a return on equity of 15.90%. Sell-side analysts predict that Harmonic Inc. will post 0.31 EPS for the current year.

Harmonic announced that its Board of Directors has initiated a share repurchase plan on Monday, February 10th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the communications equipment provider to buy up to 15.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other Harmonic news, Director Daniel T. Whalen purchased 3,000 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were purchased at an average cost of $10.15 per share, with a total value of $30,450.00. Following the completion of the transaction, the director now owns 8,840 shares of the company’s stock, valued at approximately $89,726. This represents a 51.37 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Walter Jankovic acquired 12,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were acquired at an average price of $9.44 per share, with a total value of $113,280.00. Following the completion of the transaction, the chief financial officer now directly owns 46,129 shares in the company, valued at approximately $435,457.76. This trade represents a 35.16 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 32,780 shares of company stock worth $316,607 over the last quarter. Corporate insiders own 2.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Northland Securities lowered their target price on Harmonic from $14.00 to $12.50 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th. StockNews.com lowered Harmonic from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Barclays dropped their price objective on Harmonic from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 11th. Rosenblatt Securities decreased their target price on Harmonic from $16.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Finally, Jefferies Financial Group initiated coverage on shares of Harmonic in a research report on Friday, February 21st. They issued a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Harmonic has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

Harmonic Company 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.