Harmonic Inc. (NASDAQ:HLIT) Shares Sold by Inspire Investing LLC

Inspire Investing LLC reduced its position in Harmonic Inc. (NASDAQ:HLIT) by 4.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,210 shares of the communications equipment provider’s stock after selling 1,329 shares during the quarter. Inspire Investing LLC’s holdings in Harmonic were worth $411,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Harmonic by 1.7% in the first quarter. Vanguard Group Inc. now owns 9,852,064 shares of the communications equipment provider’s stock valued at $132,412,000 after purchasing an additional 166,018 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Harmonic by 12.7% in the fourth quarter. Wellington Management Group LLP now owns 8,796,165 shares of the communications equipment provider’s stock valued at $114,702,000 after acquiring an additional 990,425 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Harmonic by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,741,998 shares of the communications equipment provider’s stock worth $44,043,000 after acquiring an additional 294,922 shares during the period. Leeward Investments LLC MA raised its holdings in Harmonic by 5.6% during the second quarter. Leeward Investments LLC MA now owns 1,975,966 shares of the communications equipment provider’s stock worth $23,257,000 after purchasing an additional 105,162 shares in the last quarter. Finally, Clearline Capital LP lifted its position 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 during the period. 99.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on HLIT shares. Rosenblatt Securities reissued a “buy” rating and set a $18.00 target price on shares of Harmonic in a research note on Tuesday. Barclays raised their target price on Harmonic from $14.00 to $20.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price target on shares of Harmonic in a research note on Tuesday, July 30th. One equities research 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’s stock. According to MarketBeat, Harmonic has a consensus rating of “Buy” and a consensus target price of $18.50.

Insiders Place Their Bets

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

Harmonic Stock Performance

NASDAQ HLIT opened at $14.43 on Friday. The business has a 50 day moving average price of $13.90 and a 200 day moving average price of $12.45. The company has a market capitalization of $1.62 billion, a P/E ratio of 24.05 and a beta of 0.87. Harmonic Inc. has a 1-year low of $9.10 and a 1-year high of $15.31. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.87 and a quick ratio of 1.32.

Harmonic (NASDAQ:HLIT) last announced its quarterly earnings results on Monday, July 29th. The communications equipment provider reported $0.08 earnings per share 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 analysts’ expectations of $133.67 million. Harmonic had a return on equity of 0.27% and a net margin of 10.22%. The business’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same quarter last year, the business posted $0.07 earnings per share. Sell-side analysts expect that Harmonic Inc. will post 0.44 EPS for the current fiscal year.

Harmonic 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.