SG Americas Securities LLC Sells 6,093 Shares of Harmonic Inc. (NASDAQ:HLIT)

SG Americas Securities LLC lowered its position in shares of Harmonic Inc. (NASDAQ:HLITFree Report) by 11.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 46,856 shares of the communications equipment provider’s stock after selling 6,093 shares during the quarter. SG Americas Securities LLC’s holdings in Harmonic were worth $620,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in HLIT. Jane Street Group LLC boosted its stake in Harmonic by 40.3% during the 3rd quarter. Jane Street Group LLC now owns 201,386 shares of the communications equipment provider’s stock valued at $2,934,000 after purchasing an additional 57,888 shares during the last quarter. Baker Avenue Asset Management LP purchased a new stake in shares of Harmonic during the third quarter valued at $833,000. Lisanti Capital Growth LLC purchased a new stake in shares of Harmonic during the third quarter valued at $2,915,000. Geode Capital Management LLC increased its holdings in Harmonic by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,675,268 shares of the communications equipment provider’s stock worth $38,986,000 after buying an additional 17,665 shares in the last quarter. Finally, Bouvel Investment Partners LLC purchased a new position in Harmonic in the 3rd quarter worth about $1,756,000. 99.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price target on shares of Harmonic in a report on Tuesday, October 29th. Jefferies Financial Group cut shares of Harmonic from a “buy” rating to a “hold” rating and dropped their target price for the stock from $14.00 to $12.50 in a report on Tuesday, October 29th. Raymond James lowered shares of Harmonic from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from $17.00 to $14.00 in a research note on Tuesday, October 29th. Rosenblatt Securities dropped their price target on Harmonic from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Finally, Northland Securities reduced their price objective on Harmonic from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.75.

Get Our Latest Stock Analysis on HLIT

Harmonic Trading Down 0.4 %

Shares of NASDAQ:HLIT opened at $11.35 on Friday. The stock has a 50 day moving average of $12.81 and a 200 day moving average of $13.18. The company has a market cap of $1.32 billion, a PE ratio of 15.55 and a beta of 0.91. 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.

Harmonic (NASDAQ:HLITGet Free Report) last posted its quarterly earnings results on Monday, October 28th. The communications equipment provider reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.09. The business had revenue of $195.80 million during the quarter, compared to analyst estimates of $181.77 million. Harmonic had a net margin of 13.62% and a return on equity of 7.56%. The company’s revenue was up 53.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) earnings per share. As a group, equities research analysts expect that Harmonic Inc. will post 0.52 EPS for the current year.

About Harmonic

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding HLIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Harmonic Inc. (NASDAQ:HLITFree Report).

Institutional Ownership by Quarter for Harmonic (NASDAQ:HLIT)

Receive News & Ratings for Harmonic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harmonic and related companies with MarketBeat.com's FREE daily email newsletter.