Harmonic Inc. (NASDAQ:HLIT) Shares Bought by Silverberg Bernstein Capital Management LLC

Silverberg Bernstein Capital Management LLC lifted its position in shares of Harmonic Inc. (NASDAQ:HLIT) by 0.8% in the third quarter, Holdings Channel reports. The institutional investor owned 794,027 shares of the communications equipment provider’s stock after acquiring an additional 6,094 shares during the period. Harmonic makes up about 10.6% of Silverberg Bernstein Capital Management LLC’s portfolio, making the stock its 2nd largest position. Silverberg Bernstein Capital Management LLC’s holdings in Harmonic were worth $11,569,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in Harmonic in the third quarter valued at about $771,000. Point72 Asset Management L.P. acquired a new position in Harmonic in the second quarter valued at about $7,687,000. Algert Global LLC acquired a new position in Harmonic in the second quarter valued at about $289,000. Clearline Capital LP raised its stake in Harmonic by 777.6% in the second quarter. Clearline Capital LP now owns 1,570,461 shares of the communications equipment provider’s stock valued at $18,484,000 after purchasing an additional 1,391,504 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC raised its stake in Harmonic by 54.9% in the second quarter. Susquehanna Fundamental Investments LLC now owns 120,539 shares of the communications equipment provider’s stock valued at $1,419,000 after purchasing an additional 42,715 shares in the last quarter. Institutional investors and hedge funds own 99.38% of the company’s stock.

Insider Activity

In other news, SVP Neven Haltmayer sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $14.41, for a total value of $576,400.00. Following the completion of the transaction, the senior vice president now owns 122,211 shares of the company’s stock, valued at $1,761,060.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.20% of the stock is currently owned by insiders.

Harmonic Price Performance

NASDAQ HLIT traded up $0.03 during trading on Friday, hitting $13.76. 639,933 shares of the company’s stock were exchanged, compared to its average volume of 1,558,291. The company has a current ratio of 1.87, a quick ratio of 1.32 and a debt-to-equity ratio of 0.30. The company has a market cap of $1.54 billion, a PE ratio of 22.93 and a beta of 0.87. Harmonic Inc. has a fifty-two week low of $8.80 and a fifty-two week high of $15.31. The stock’s 50 day moving average price is $13.88 and its two-hundred day moving average price is $12.42.

Harmonic (NASDAQ:HLIT) last released its quarterly earnings data on Monday, July 29th. The communications equipment provider reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.04. Harmonic had a return on equity of 0.27% and a net margin of 10.22%. The company had revenue of $138.70 million during the quarter, compared to the consensus estimate of $133.67 million. During the same quarter in the prior year, the firm posted $0.07 earnings per share. The firm’s revenue was down 11.1% compared to the same quarter last year. Research analysts expect that Harmonic Inc. will post 0.44 EPS for the current year.

Analysts Set New Price Targets

HLIT has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price target on shares of Harmonic in a research note on Tuesday, July 30th. Rosenblatt Securities reissued a “buy” rating and set a $18.00 target price on shares of Harmonic in a research note on Thursday, July 18th. Finally, Barclays boosted their target price on Harmonic from $14.00 to $20.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $18.50.

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.