Royce & Associates LP Boosts Holdings in Harmonic Inc. (NASDAQ:HLIT)

Royce & Associates LP boosted its position in shares of Harmonic Inc. (NASDAQ:HLIT) by 12.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,019,638 shares of the communications equipment provider’s stock after buying an additional 113,929 shares during the period. Royce & Associates LP owned 0.88% of Harmonic worth $14,856,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of HLIT. CWM LLC boosted its holdings 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 purchasing an additional 1,999 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Harmonic by 117.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,448 shares of the communications equipment provider’s stock valued at $36,000 after purchasing an additional 1,323 shares in the last quarter. Innealta Capital LLC purchased a new stake in Harmonic in the 2nd quarter valued at approximately $47,000. SageView Advisory Group LLC purchased a new stake in Harmonic in the 1st quarter valued at approximately $114,000. Finally, Verdence Capital Advisors LLC acquired a new stake in shares of Harmonic during the 2nd quarter valued at approximately $140,000. Institutional investors and hedge funds own 99.38% of the company’s stock.

Wall Street Analysts Forecast Growth

HLIT has been the subject of a number of research reports. Jefferies Financial Group downgraded shares of Harmonic from a “buy” rating to a “hold” rating and reduced their price target for the company from $14.00 to $12.50 in a research report on Tuesday, October 29th. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price target on shares of Harmonic in a research report on Tuesday, October 29th. Rosenblatt Securities reduced their price target on shares of Harmonic from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Barclays cut their price objective on Harmonic from $20.00 to $17.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Finally, Raymond James downgraded Harmonic from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from $17.00 to $14.00 in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.25.

Harmonic Stock Down 3.9 %

Shares of NASDAQ:HLIT opened at $11.92 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.62 and a current ratio of 2.08. The company has a market cap of $1.39 billion, a PE ratio of 16.33 and a beta of 0.89. Harmonic Inc. has a 52 week low of $9.10 and a 52 week high of $15.46. The firm has a 50 day simple moving average of $13.40 and a 200 day simple moving average of $12.74.

Harmonic (NASDAQ:HLIT) last posted its earnings results on Monday, October 28th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.09. The business had revenue of $195.80 million for 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%. Harmonic’s revenue was up 53.9% compared to the same quarter last year. During the same period last year, the business posted ($0.05) EPS. As a group, research analysts expect that Harmonic Inc. will post 0.52 earnings per share for the current 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.