KBC Group NV Buys 2,888 Shares of Harmonic Inc. (NASDAQ:HLIT)

KBC Group NV lifted its stake in Harmonic Inc. (NASDAQ:HLIT) by 84.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,295 shares of the communications equipment provider’s stock after purchasing an additional 2,888 shares during the period. KBC Group NV’s holdings in Harmonic were worth $83,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of HLIT. GAMMA Investing LLC raised its stake in Harmonic by 117.6% in 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. Captrust Financial Advisors raised its position in shares of Harmonic by 14.9% in the 3rd quarter. Captrust Financial Advisors now owns 12,671 shares of the communications equipment provider’s stock worth $185,000 after acquiring an additional 1,647 shares in the last quarter. Inspire Investing LLC raised its position in shares of Harmonic by 6.9% in the 4th quarter. Inspire Investing LLC now owns 30,154 shares of the communications equipment provider’s stock worth $399,000 after acquiring an additional 1,944 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Harmonic by 6.0% in the 3rd quarter. Franklin Resources Inc. now owns 39,041 shares of the communications equipment provider’s stock valued at $538,000 after purchasing an additional 2,207 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Harmonic by 18.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 35,365 shares of the communications equipment provider’s stock valued at $515,000 after purchasing an additional 5,414 shares in the last quarter. Institutional investors own 99.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HLIT. Raymond James cut shares of Harmonic from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $17.00 to $14.00 in a research report on Tuesday, October 29th. Northland Securities lowered their target price on shares of Harmonic from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Tuesday, October 29th. Rosenblatt Securities restated a “buy” rating and issued a $16.00 price target on shares of Harmonic in a research note on Tuesday, February 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Harmonic in a research report on Tuesday, October 29th. Finally, Jefferies Financial Group downgraded 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. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $14.75.

Harmonic Stock Performance

Shares of HLIT opened at $11.13 on Monday. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 15.25 and a beta of 0.89. The business’s fifty day simple moving average is $12.65 and its two-hundred day simple moving average is $13.14. 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 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.