Needham Investment Management LLC Sells 55,000 Shares of Harmonic Inc. $HLIT

Needham Investment Management LLC reduced its position in shares of Harmonic Inc. (NASDAQ:HLIT) by 9.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 545,000 shares of the communications equipment provider’s stock after selling 55,000 shares during the quarter. Needham Investment Management LLC owned about 0.49% of Harmonic worth $5,390,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in HLIT. iSAM Funds UK Ltd bought a new position in shares of Harmonic in the 3rd quarter worth $49,000. Global Retirement Partners LLC lifted its stake in shares of Harmonic by 23,193.5% in the fourth quarter. Global Retirement Partners LLC now owns 7,221 shares of the communications equipment provider’s stock valued at $71,000 after buying an additional 7,190 shares in the last quarter. KBC Group NV grew its holdings in shares of Harmonic by 130.7% during the fourth quarter. KBC Group NV now owns 7,476 shares of the communications equipment provider’s stock valued at $74,000 after buying an additional 4,236 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Harmonic by 23,297.5% during the third quarter. Russell Investments Group Ltd. now owns 9,359 shares of the communications equipment provider’s stock worth $95,000 after acquiring an additional 9,319 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in shares of Harmonic in the 4th quarter worth about $108,000. Institutional investors and hedge funds own 99.38% of the company’s stock.

Insider Transactions at Harmonic

In other Harmonic news, SVP Neven Haltmayer sold 31,766 shares of Harmonic stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $13.24, for a total value of $420,581.84. Following the sale, the senior vice president owned 133,924 shares of the company’s stock, valued at approximately $1,773,153.76. The trade was a 19.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stephanie Copeland sold 4,300 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $13.30, for a total transaction of $57,190.00. Following the transaction, the director directly owned 20,752 shares of the company’s stock, valued at $276,001.60. This represents a 17.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.74% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Jefferies Financial Group reiterated a “hold” rating and set a $15.00 price target on shares of Harmonic in a research note on Tuesday, May 12th. Barclays raised their target price on Harmonic from $11.00 to $15.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Northland Securities set a $15.00 price target on Harmonic in a research report on Tuesday, May 12th. Wall Street Zen upgraded Harmonic from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 6th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $20.00 target price on shares of Harmonic in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Harmonic presently has an average rating of “Hold” and a consensus price target of $16.60.

Harmonic Stock Performance

Shares of Harmonic stock opened at $15.07 on Tuesday. The business’s fifty day simple moving average is $12.46 and its 200 day simple moving average is $10.83. The company has a current ratio of 2.27, a quick ratio of 2.03 and a debt-to-equity ratio of 0.31. Harmonic Inc. has a 12 month low of $7.80 and a 12 month high of $17.68. The firm has a market capitalization of $1.64 billion, a P/E ratio of -40.73 and a beta of 1.32.

About Harmonic

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.