Nomura Holdings Inc. Has $1.38 Million Stock Holdings in Harmonic Inc. (NASDAQ:HLIT)

Nomura Holdings Inc. grew its holdings in Harmonic Inc. (NASDAQ:HLIT) by 54.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 104,026 shares of the communications equipment provider’s stock after buying an additional 36,511 shares during the quarter. Nomura Holdings Inc.’s holdings in Harmonic were worth $1,376,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Quarry LP acquired a new position in shares of Harmonic in the 4th quarter valued at $33,000. Russell Investments Group Ltd. raised its stake in shares of Harmonic by 5,388.1% in the 4th quarter. Russell Investments Group Ltd. now owns 5,543 shares of the communications equipment provider’s stock valued at $73,000 after buying an additional 5,442 shares in the last quarter. AlphaQuest LLC grew its holdings in shares of Harmonic by 14,765.9% in the 4th quarter. AlphaQuest LLC now owns 6,095 shares of the communications equipment provider’s stock worth $81,000 after purchasing an additional 6,054 shares during the last quarter. KBC Group NV grew its holdings in shares of Harmonic by 84.8% in the 4th quarter. KBC Group NV now owns 6,295 shares of the communications equipment provider’s stock worth $83,000 after purchasing an additional 2,888 shares during the last quarter. Finally, Cresset Asset Management LLC bought a new stake in shares of Harmonic in the 4th quarter worth about $133,000. Institutional investors and hedge funds own 99.38% of the company’s stock.

Analyst Upgrades and Downgrades

HLIT has been the topic of several analyst reports. Barclays reaffirmed an “underperform” rating on shares of Harmonic in a report on Tuesday, April 29th. StockNews.com raised shares of Harmonic from a “hold” rating to a “buy” rating in a report on Thursday, March 27th. Rosenblatt Securities lowered their target price on shares of Harmonic from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. Jefferies Financial Group initiated coverage on shares of Harmonic in a report on Friday, February 21st. They issued a “hold” rating on the stock. Finally, Northland Securities lowered their target price on shares of Harmonic from $14.00 to $12.50 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Harmonic has a consensus rating of “Moderate Buy” and an average price target of $12.33.

Harmonic Stock Down 0.6%

Shares of NASDAQ:HLIT opened at $9.54 on Friday. Harmonic Inc. has a 12 month low of $7.91 and a 12 month high of $15.46. The company’s 50-day moving average price is $9.34 and its two-hundred day moving average price is $11.05. The company has a quick ratio of 1.80, a current ratio of 2.18 and a debt-to-equity ratio of 0.26. The firm has a market cap of $1.08 billion, a P/E ratio of 28.91 and a beta of 1.03.

Harmonic (NASDAQ:HLIT) last issued its quarterly earnings data on Monday, April 28th. The communications equipment provider reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06. Harmonic had a net margin of 5.78% and a return on equity of 15.90%. The firm had revenue of $133.14 million for the quarter, compared to analyst estimates of $127.51 million. The business’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, research analysts forecast that Harmonic Inc. will post 0.31 EPS for the current fiscal year.

Harmonic declared that its Board of Directors has initiated a stock repurchase plan on Monday, February 10th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the communications equipment provider to buy up to 15.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Daniel T. Whalen acquired 3,000 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were purchased at an average price of $10.15 per share, with a total value of $30,450.00. Following the acquisition, the director now directly owns 8,840 shares in the company, valued at $89,726. The trade was a 51.37% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.21% of the company’s stock.

Harmonic 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.