Versor Investments LP Acquires New Shares in Harmonic Inc. (NASDAQ:HLIT)

Versor Investments LP bought a new stake in Harmonic Inc. (NASDAQ:HLIT) in the third quarter, HoldingsChannel reports. The fund bought 15,600 shares of the communications equipment provider’s stock, valued at approximately $227,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWM LLC grew its position in shares of Harmonic by 780.9% in the 2nd quarter. CWM LLC now owns 2,255 shares of the communications equipment provider’s stock valued at $27,000 after purchasing an additional 1,999 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Harmonic by 117.6% in the third quarter. GAMMA Investing LLC now owns 2,448 shares of the communications equipment provider’s stock valued at $36,000 after buying an additional 1,323 shares during the period. Innealta Capital LLC bought a new stake in shares of Harmonic during the second quarter worth $47,000. SageView Advisory Group LLC bought a new stake in shares of Harmonic during the first quarter worth $114,000. Finally, Verdence Capital Advisors LLC acquired a new stake in shares of Harmonic during the second quarter worth $140,000. 99.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HLIT. Barclays reduced their target price on shares of Harmonic from $20.00 to $17.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Rosenblatt Securities decreased their price objective on Harmonic from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Needham & Company LLC reissued a “buy” rating and issued a $18.00 target price on shares of Harmonic in a research report on Tuesday, October 29th. Raymond James downgraded Harmonic from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $17.00 to $14.00 in a research report on Tuesday, October 29th. Finally, Jefferies Financial Group lowered shares of Harmonic from a “buy” rating to a “hold” rating and cut their price objective for the stock from $14.00 to $12.50 in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.25.

Harmonic Trading Down 3.9 %

NASDAQ HLIT opened at $11.92 on Friday. Harmonic Inc. has a 12 month low of $9.10 and a 12 month high of $15.46. The company has a current ratio of 2.08, a quick ratio of 1.62 and a debt-to-equity ratio of 0.29. The stock has a 50 day moving average of $13.40 and a 200-day moving average of $12.74. The company has a market cap of $1.39 billion, a PE ratio of 16.33 and a beta of 0.89.

Harmonic (NASDAQ:HLIT) last announced its quarterly earnings data on Monday, October 28th. The communications equipment provider reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.09. The company had revenue of $195.80 million during the quarter, compared to the consensus estimate of $181.77 million. Harmonic had a net margin of 13.62% and a return on equity of 7.56%. The company’s quarterly revenue was up 53.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.05) EPS. On average, equities research analysts anticipate that Harmonic Inc. will post 0.52 EPS for the current fiscal year.

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.