Harmonic Inc. (NASDAQ:HLIT) Shares Acquired by Inspire Investing LLC

Inspire Investing LLC increased its holdings in shares of Harmonic Inc. (NASDAQ:HLIT) by 11.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,539 shares of the communications equipment provider’s stock after acquiring an additional 2,940 shares during the period. Inspire Investing LLC’s holdings in Harmonic were worth $348,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. CWM LLC lifted its stake in 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 buying an additional 1,999 shares in the last quarter. Quadrant Capital Group LLC lifted its position 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 acquiring an additional 1,824 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Harmonic in the second quarter worth approximately $47,000. SageView Advisory Group LLC purchased a new stake in shares of Harmonic during the first quarter worth approximately $114,000. Finally, Verdence Capital Advisors LLC acquired a new position in Harmonic in the 2nd quarter valued at $140,000. Hedge funds and other institutional investors own 99.38% of the company’s stock.

Insider Activity at Harmonic

In other Harmonic news, SVP Neven Haltmayer sold 40,000 shares of Harmonic stock in a transaction dated Wednesday, July 31st. The shares were 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 in the company, valued at $1,761,060.51. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.20% of the stock is owned by insiders.

Harmonic Stock Performance

NASDAQ:HLIT opened at $14.40 on Wednesday. The company’s 50-day moving average is $13.58 and its two-hundred day moving average is $12.34. Harmonic Inc. has a 1-year low of $8.80 and a 1-year high of $15.31. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.87 and a quick ratio of 1.32. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 24.00 and a beta of 0.87.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on HLIT shares. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 target price on shares of Harmonic in a research note on Tuesday, July 30th. Barclays boosted their price target on shares of Harmonic from $14.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $18.00 price objective on shares of Harmonic in a report on Thursday, July 18th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $18.50.

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.