Harmonic Inc. (NASDAQ:HLIT) Stock Position Raised by WINTON GROUP Ltd

WINTON GROUP Ltd lifted its stake in shares of Harmonic Inc. (NASDAQ:HLIT) by 54.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,679 shares of the communications equipment provider’s stock after acquiring an additional 26,429 shares during the quarter. WINTON GROUP Ltd’s holdings in Harmonic were worth $879,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. CWM LLC boosted its stake in shares of Harmonic by 780.9% during the 2nd quarter. CWM LLC now owns 2,255 shares of the communications equipment provider’s stock worth $27,000 after acquiring an additional 1,999 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Harmonic by 237.8% in the fourth quarter. Quadrant Capital Group LLC now owns 2,591 shares of the communications equipment provider’s stock valued at $34,000 after purchasing an additional 1,824 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Harmonic in the second quarter valued at $47,000. SageView Advisory Group LLC purchased a new stake in shares of Harmonic in the first quarter valued at $114,000. Finally, Verdence Capital Advisors LLC purchased a new stake in shares of Harmonic in the second quarter valued at $140,000. 99.38% of the stock is owned by institutional investors.

Insider Buying and Selling at Harmonic

In other Harmonic news, SVP Neven Haltmayer sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $14.41, for a total transaction of $576,400.00. Following the transaction, the senior vice president now directly owns 122,211 shares in the company, valued at $1,761,060.51. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.20% of the company’s stock.

Harmonic Price Performance

Shares of NASDAQ:HLIT opened at $13.59 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. Harmonic Inc. has a 1 year low of $8.80 and a 1 year high of $15.31. The business has a fifty day simple moving average of $13.36 and a 200 day simple moving average of $12.30. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 22.42 and a beta of 0.87.

Harmonic (NASDAQ:HLIT) last announced its quarterly earnings data on Monday, July 29th. The communications equipment provider reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.04. Harmonic had a return on equity of 0.27% and a net margin of 10.22%. The business had revenue of $138.70 million during the quarter, compared to analyst estimates of $133.67 million. During the same period last year, the company earned $0.07 earnings per share. Harmonic’s quarterly revenue was down 11.1% compared to the same quarter last year. As a group, sell-side analysts predict that Harmonic Inc. will post 0.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on HLIT. Needham & Company LLC restated a “buy” rating and issued a $18.00 target price on shares of Harmonic in a report on Tuesday, July 30th. Rosenblatt Securities restated a “buy” rating and issued a $18.00 target price on shares of Harmonic in a report on Thursday, July 18th. Finally, Barclays increased 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. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Harmonic currently has a consensus rating of “Buy” and an average price target of $18.50.

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.