Vontobel Holding Ltd. Sells 4,212 Shares of Harmonic Inc. (NASDAQ:HLIT)

Vontobel Holding Ltd. lowered its position in shares of Harmonic Inc. (NASDAQ:HLIT) by 17.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,675 shares of the communications equipment provider’s stock after selling 4,212 shares during the quarter. Vontobel Holding Ltd.’s holdings in Harmonic were worth $287,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of Harmonic by 117.6% during the third quarter. GAMMA Investing LLC now owns 2,448 shares of the communications equipment provider’s stock worth $36,000 after buying an additional 1,323 shares in the last quarter. Dark Forest Capital Management LP grew its position in Harmonic by 7.2% during the 2nd quarter. Dark Forest Capital Management LP now owns 20,192 shares of the communications equipment provider’s stock worth $238,000 after acquiring an additional 1,362 shares during the last quarter. Rhumbline Advisers increased its holdings in Harmonic by 0.4% during the 2nd quarter. Rhumbline Advisers now owns 320,516 shares of the communications equipment provider’s stock valued at $3,772,000 after purchasing an additional 1,382 shares in the last quarter. Texas Permanent School Fund Corp raised its position in Harmonic by 1.5% in the 1st quarter. Texas Permanent School Fund Corp now owns 98,377 shares of the communications equipment provider’s stock valued at $1,322,000 after purchasing an additional 1,462 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in Harmonic by 7.4% in the first quarter. ProShare Advisors LLC now owns 22,256 shares of the communications equipment provider’s stock worth $299,000 after purchasing an additional 1,532 shares in the last quarter. 99.38% of the stock is owned by institutional investors.

Harmonic Trading Up 1.2 %

NASDAQ:HLIT opened at $14.54 on Wednesday. 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 firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 24.23 and a beta of 0.87. The business’s 50-day moving average price is $14.00 and its two-hundred day moving average price is $12.48. Harmonic Inc. has a 1-year low of $9.10 and a 1-year high of $15.31.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on HLIT shares. Rosenblatt Securities reissued a “buy” rating and set a $18.00 price objective on shares of Harmonic in a report on Tuesday, October 15th. Barclays raised their price target on shares of 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 reiterated a “buy” rating and issued a $18.00 price objective on shares of Harmonic in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $18.50.

Insiders Place Their Bets

In related news, SVP Neven Haltmayer sold 40,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $14.41, for a total transaction of $576,400.00. Following the completion of the sale, the senior vice president now directly owns 122,211 shares of the company’s stock, valued at approximately $1,761,060.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.20% of the company’s stock.

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.