LSV Asset Management Has $1.13 Million Stake in Harmonic Inc. $HLIT

LSV Asset Management grew its holdings in Harmonic Inc. (NASDAQ:HLIT) by 799.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 114,200 shares of the communications equipment provider’s stock after buying an additional 101,500 shares during the period. LSV Asset Management’s holdings in Harmonic were worth $1,129,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Clearline Capital LP grew its stake in shares of Harmonic by 32.6% in the 3rd quarter. Clearline Capital LP now owns 795,076 shares of the communications equipment provider’s stock valued at $8,094,000 after buying an additional 195,298 shares in the last quarter. Tudor Investment Corp ET AL grew its stake in shares of Harmonic by 18.3% in the 3rd quarter. Tudor Investment Corp ET AL now owns 1,013,492 shares of the communications equipment provider’s stock valued at $10,317,000 after buying an additional 156,862 shares in the last quarter. First Eagle Investment Management LLC grew its stake in shares of Harmonic by 23.7% in the 3rd quarter. First Eagle Investment Management LLC now owns 818,376 shares of the communications equipment provider’s stock valued at $8,331,000 after buying an additional 157,000 shares in the last quarter. Hillsdale Investment Management Inc. grew its stake in shares of Harmonic by 18.8% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 681,300 shares of the communications equipment provider’s stock valued at $6,936,000 after buying an additional 107,700 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its stake in shares of Harmonic by 15.1% in the 3rd quarter. Public Sector Pension Investment Board now owns 443,703 shares of the communications equipment provider’s stock valued at $4,517,000 after buying an additional 58,145 shares in the last quarter. Institutional investors and hedge funds own 99.38% of the company’s stock.

Harmonic Stock Up 1.2%

Shares of Harmonic stock opened at $17.11 on Thursday. The stock has a market capitalization of $1.86 billion, a P/E ratio of -46.24 and a beta of 1.24. The company has a quick ratio of 2.03, a current ratio of 2.27 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average price of $11.03 and a two-hundred day moving average price of $10.35. Harmonic Inc. has a 12-month low of $7.80 and a 12-month high of $17.59.

Analysts Set New Price Targets

Several brokerages recently commented on HLIT. Barclays boosted their price target on Harmonic from $11.00 to $15.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. Needham & Company LLC boosted their price target on Harmonic from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Weiss Ratings cut Harmonic from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, March 6th. Northland Securities set a $15.00 price target on Harmonic in a research note on Tuesday, May 12th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $15.00 price target on shares of Harmonic in a research note on Tuesday, May 12th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $16.60.

Insider Buying and Selling

In other Harmonic news, SVP Neven Haltmayer sold 31,766 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $13.24, for a total transaction of $420,581.84. Following the completion of the sale, the senior vice president owned 133,924 shares of the company’s stock, valued at $1,773,153.76. This represents a 19.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephanie Copeland sold 4,300 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $13.30, for a total value of $57,190.00. Following the sale, the director directly owned 20,752 shares of the company’s stock, valued at $276,001.60. The trade was a 17.16% decrease in their position. The SEC filing for this sale provides additional information. 1.74% of the stock is owned by corporate insiders.

Harmonic Profile

Harmonic Inc (NASDAQ:HLIT) is a leading provider of video delivery infrastructure that enables service providers, broadcasters and content owners to capture, process and distribute high‐quality video across broadcast, cable, satellite and IP networks. The company’s portfolio spans real‐time video compression solutions, including encoders and transcoders, as well as storage and server products designed for live production, playout and streaming on any device.

Harmonic’s product lines include cable edge QAM modules and set‐top video processing platforms for traditional pay‐TV operators, alongside cloud‐native software for over‐the‐top (OTT) delivery, origin servers and content delivery network (CDN) services.