2 weeks Ago By Defense World Staff
Prudential Financial Inc. grew its holdings in shares of Harmonic Inc. ( NASDAQ:HLIT – Free Report ) by 3.
7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 124,527 shares of the communications equipment provider’s stock after acquiring an additional 4,400 shares during the period. Prudential Financial Inc.
owned about 0.11% of Harmonic worth $1,647,000 as of its most recent SEC filing. Other hedge funds and other institutional investors have also modified their holdings of the company.
AlphaQuest LLC grew its stake in Harmonic by 14,765.9% during the 4th quarter. AlphaQuest LLC now owns 6,095 shares of the communications equipment provider’s stock valued at $81,000 after purchasing an additional 6,054 shares in the last quarter.
KBC Group NV boosted its stake in shares of Harmonic by 84.8% during the 4th quarter. KBC Group NV now owns 6,295 shares of the communications equipment provider’s stock valued at $83,000 after buying an additional 2,888 shares during the last quarter.
Cibc World Markets Corp acquired a new stake in shares of Harmonic during the fourth quarter worth approximately $137,000. Entropy Technologies LP acquired a new stake in shares of Harmonic during the fourth quarter worth approximately $146,000. Finally, iSAM Funds UK Ltd bought a new stake in shares of Harmonic in the third quarter worth $166,000.
99.38% of the stock is owned by hedge funds and other institutional investors. Wall Street Analyst Weigh In Several brokerages have weighed in on HLIT.
Northland Securities decreased their price objective on shares of Harmonic from $14.00 to $12.50 and set an “outperform” rating for the company in a report on Tuesday, February 11th.
Barclays decreased their price target on Harmonic from $14.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th.
Jefferies Financial Group started coverage on Harmonic in a research note on Friday, February 21st. They set a “hold” rating on the stock. Needham & Company LLC reduced their target price on Harmonic from $18.
00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Finally, StockNews.
com upgraded Harmonic from a “hold” rating to a “buy” rating in a report on Thursday, March 27th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Harmonic currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.
50. Harmonic Stock Performance Shares of HLIT stock opened at $8.33 on Friday.
The company has a market cap of $975.05 million, a P/E ratio of 25.24 and a beta of 0.
92. The business has a 50 day moving average of $10.35 and a two-hundred day moving average of $12.
14. Harmonic Inc. has a 52 week low of $8.
15 and a 52 week high of $15.46. The company has a quick ratio of 1.
80, a current ratio of 2.18 and a debt-to-equity ratio of 0.26.
Harmonic ( NASDAQ:HLIT – Get Free Report ) last released its quarterly earnings data on Monday, February 10th. The communications equipment provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.
37 by $0.01. Harmonic had a return on equity of 15.
90% and a net margin of 5.78%. As a group, analysts anticipate that Harmonic Inc.
will post 0.31 EPS for the current year. Harmonic announced that its Board of Directors has approved a stock buyback program on Monday, February 10th that permits the company to buyback $200.
00 million in outstanding shares. This buyback authorization permits the communications equipment provider to buy up to 15.4% of its shares through open market purchases.
Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued. Insider Activity at Harmonic In related news, CEO Nimrod Ben-Natan bought 7,780 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average price of $9.
65 per share, for a total transaction of $75,077.00. Following the transaction, the chief executive officer now directly owns 347,797 shares of the company’s stock, valued at approximately $3,356,241.
05. This represents a 2.29 % increase in their position.
The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink . Also, Director Daniel T. Whalen purchased 3,000 shares of the company’s stock in a transaction on Monday, February 24th.
The shares were bought at an average price of $10.15 per share, for a total transaction of $30,450.00.
Following the completion of the transaction, the director now directly owns 8,840 shares in the company, valued at $89,726. This represents a 51.37 % increase in their position.
The disclosure for this purchase can be found here . Insiders have bought a total of 32,780 shares of company stock worth $316,607 in the last ninety days. 2.
36% of the stock is owned by insiders. 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 Articles Five stocks we like better than Harmonic How to Plot Fibonacci Price Inflection Levels Conagra Stock Could Thrive as Tariffs Hit Other Sectors What does consumer price index measure? Grocery Costs and Tariffs Now Top of Mind in Everyday Conversations, New Survey Finds How Investors Can Identify and Successfully Trade Gap-Down Stocks Spotify Stock Eyes Double-Digit Upside—Is Now the Time to Buy? 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.
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