Harmonic Inc. (NASDAQ:HLIT) Shares Sold by Waterfront Wealth Inc.

Waterfront Wealth Inc. cut its position in Harmonic Inc. (NASDAQ:HLIT) by 22.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,157 shares of the communications equipment provider’s stock after selling 18,659 shares during the quarter. Waterfront Wealth Inc.’s holdings in Harmonic were worth $837,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of HLIT. Silverberg Bernstein Capital Management LLC acquired a new position in shares of Harmonic during the fourth quarter worth $10,481,000. Raymond James Financial Services Advisors Inc. raised its position in Harmonic by 551.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 122,937 shares of the communications equipment provider’s stock valued at $1,184,000 after purchasing an additional 104,061 shares during the last quarter. DigitalBridge Group Inc. raised its position in Harmonic by 126.4% in the 3rd quarter. DigitalBridge Group Inc. now owns 932,096 shares of the communications equipment provider’s stock valued at $8,976,000 after purchasing an additional 520,369 shares during the last quarter. Jupiter Asset Management Ltd. boosted its stake in Harmonic by 247.7% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 168,194 shares of the communications equipment provider’s stock worth $1,620,000 after purchasing an additional 119,815 shares during the period. Finally, Vanguard Group Inc. grew its position in Harmonic by 9.9% during the 3rd quarter. Vanguard Group Inc. now owns 9,396,603 shares of the communications equipment provider’s stock worth $90,489,000 after purchasing an additional 847,808 shares during the last quarter. 99.38% of the stock is currently owned by hedge funds and other institutional investors.

Harmonic Price Performance

Shares of HLIT traded down $0.02 on Thursday, reaching $10.01. The stock had a trading volume of 96,391 shares, compared to its average volume of 1,922,753. Harmonic Inc. has a twelve month low of $8.80 and a twelve month high of $18.43. The firm has a market capitalization of $1.12 billion, a PE ratio of 14.13 and a beta of 0.84. The firm has a 50-day moving average of $12.83 and a 200 day moving average of $11.75. The company has a quick ratio of 0.91, a current ratio of 1.21 and a debt-to-equity ratio of 0.02.

Harmonic (NASDAQ:HLIT) last posted its earnings results on Monday, January 29th. The communications equipment provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $167.10 million for the quarter, compared to analyst estimates of $158.98 million. Harmonic had a return on equity of 4.71% and a net margin of 13.82%. Harmonic’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.12 earnings per share. Sell-side analysts expect that Harmonic Inc. will post 0.32 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Needham & Company LLC restated a “buy” rating and set a $18.00 price target on shares of Harmonic in a research note on Wednesday. Rosenblatt Securities lowered their target price on shares of Harmonic from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, January 30th. TheStreet upgraded shares of Harmonic from a “c” rating to a “b” rating in a research report on Monday, January 29th. StockNews.com upgraded Harmonic from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. Finally, Raymond James decreased their price target on Harmonic from $19.00 to $18.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, January 30th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $17.20.

Insiders Place Their Bets

In other news, SVP Neven Haltmayer sold 24,695 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $11.58, for a total value of $285,968.10. Following the sale, the senior vice president now directly owns 181,864 shares in the company, valued at $2,105,985.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Neven Haltmayer sold 24,695 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $11.58, for a total value of $285,968.10. Following the sale, the senior vice president now owns 181,864 shares of the company’s stock, valued at approximately $2,105,985.12. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Nimrod Ben-Natan sold 100,000 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $12.91, for a total value of $1,291,000.00. Following the completion of the transaction, the senior vice president now directly owns 302,214 shares of the company’s stock, valued at $3,901,582.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 150,000 shares of company stock worth $1,917,122. Insiders own 2.20% of the company’s stock.

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.