SG Americas Securities LLC Takes $771,000 Position in Harmonic Inc. (NASDAQ:HLIT)

SG Americas Securities LLC acquired a new stake in Harmonic Inc. (NASDAQ:HLIT) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 52,949 shares of the communications equipment provider’s stock, valued at approximately $771,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC increased its holdings in Harmonic by 780.9% during the second quarter. CWM LLC now owns 2,255 shares of the communications equipment provider’s stock worth $27,000 after buying an additional 1,999 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Harmonic in the second quarter valued at $47,000. SageView Advisory Group LLC acquired a new position in shares of Harmonic in the first quarter valued at $114,000. Verdence Capital Advisors LLC acquired a new position in shares of Harmonic in the second quarter valued at $140,000. Finally, Dark Forest Capital Management LP increased its holdings in shares of Harmonic by 7.2% in the second quarter. Dark Forest Capital Management LP now owns 20,192 shares of the communications equipment provider’s stock valued at $238,000 after purchasing an additional 1,362 shares during the last quarter. 99.38% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Neven Haltmayer sold 40,000 shares of Harmonic stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $14.41, for a total value of $576,400.00. Following the completion of the sale, the senior vice president now owns 122,211 shares in the company, valued at $1,761,060.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.20% of the company’s stock.

Harmonic Trading Up 1.6 %

HLIT opened at $13.67 on Friday. The company’s 50 day moving average is $13.84 and its 200-day moving average is $12.44. Harmonic Inc. has a 1-year low of $9.05 and a 1-year high of $15.31. 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 $1.53 billion, a P/E ratio of 22.78 and a beta of 0.87.

Harmonic (NASDAQ:HLIT) last issued its quarterly earnings data on Monday, July 29th. The communications equipment provider reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. The business had revenue of $138.70 million during the quarter, compared to analyst estimates of $133.67 million. Harmonic had a net margin of 10.22% and a return on equity of 0.27%. The firm’s quarterly revenue was down 11.1% on a year-over-year basis. During the same quarter last year, the business earned $0.07 EPS. Equities research analysts predict that Harmonic Inc. will post 0.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.