Harmonic Inc. (NASDAQ:HLIT) Shares Sold by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. lessened its holdings in Harmonic Inc. (NASDAQ:HLIT) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 280,307 shares of the communications equipment provider’s stock after selling 8,557 shares during the quarter. Stanley Laman Group Ltd. owned approximately 0.25% of Harmonic worth $3,655,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in HLIT. SG Americas Securities LLC bought a new stake in shares of Harmonic during the 3rd quarter valued at about $299,000. Exchange Traded Concepts LLC acquired a new stake in Harmonic in the third quarter worth $522,000. Harbor Capital Advisors Inc. lifted its stake in Harmonic by 41.4% in the third quarter. Harbor Capital Advisors Inc. now owns 27,212 shares of the communications equipment provider’s stock valued at $262,000 after buying an additional 7,962 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Harmonic by 551.3% during the third 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 acquiring an additional 104,061 shares during the period. Finally, Inspire Investing LLC increased its holdings in shares of Harmonic by 65.8% in the 3rd quarter. Inspire Investing LLC now owns 32,184 shares of the communications equipment provider’s stock worth $310,000 after acquiring an additional 12,778 shares during the period. Institutional investors own 99.38% of the company’s stock.

Insider Buying and Selling at Harmonic

In other news, SVP Neven Haltmayer sold 14,747 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $13.68, for a total transaction of $201,738.96. Following the completion of the sale, the senior vice president now directly owns 156,559 shares of the company’s stock, valued at approximately $2,141,727.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Neven Haltmayer sold 14,747 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $13.68, for a total transaction of $201,738.96. Following the completion of the sale, the senior vice president now directly owns 156,559 shares of the company’s stock, valued at $2,141,727.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Nimrod Ben-Natan sold 100,000 shares of the stock in a transaction on Monday, February 5th. The shares were 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 owns 302,214 shares of the company’s stock, valued at approximately $3,901,582.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 150,000 shares of company stock valued at $1,917,122. Corporate insiders own 2.20% of the company’s stock.

Harmonic Price Performance

HLIT stock traded down $0.23 during trading hours on Thursday, hitting $9.20. 3,202,483 shares of the stock traded hands, compared to its average volume of 1,945,112. The company has a current ratio of 1.21, a quick ratio of 0.91 and a debt-to-equity ratio of 0.02. The stock has a 50-day simple moving average of $12.43 and a 200 day simple moving average of $11.76. Harmonic Inc. has a one year low of $8.80 and a one year high of $18.43. The company has a market cap of $1.03 billion, a P/E ratio of 13.11 and a beta of 0.84.

Harmonic (NASDAQ:HLIT) last posted its quarterly earnings data 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. Harmonic had a net margin of 13.82% and a return on equity of 4.71%. The company had revenue of $167.10 million during the quarter, compared to analyst estimates of $158.98 million. During the same quarter last year, the firm posted $0.12 EPS. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. Equities analysts forecast that Harmonic Inc. will post 0.32 earnings per share for the current year.

Wall Street Analyst Weigh In

HLIT has been the subject of several recent analyst reports. Raymond James decreased their target price on shares of Harmonic from $19.00 to $18.00 and set a “strong-buy” rating for the company in a research report on Tuesday, January 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 target price on shares of Harmonic in a research note on Wednesday, April 17th. Rosenblatt Securities reduced their price target on Harmonic from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, January 30th. StockNews.com raised Harmonic from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. Finally, TheStreet upgraded shares of Harmonic from a “c” rating to a “b” rating in a research report on Monday, January 29th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $17.20.

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.