Harmonic Inc. (NASDAQ:HLIT) Shares Bought by Skylands Capital LLC

Skylands Capital LLC grew its stake in shares of Harmonic Inc. (NASDAQ:HLIT) by 15.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 149,100 shares of the communications equipment provider’s stock after acquiring an additional 20,189 shares during the period. Skylands Capital LLC owned about 0.13% of Harmonic worth $1,944,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Trigran Investments Inc. increased its stake in Harmonic by 38.5% in the 3rd quarter. Trigran Investments Inc. now owns 9,636,809 shares of the communications equipment provider’s stock valued at $92,802,000 after purchasing an additional 2,677,338 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Harmonic by 9.9% in the third quarter. Vanguard Group Inc. now owns 9,396,603 shares of the communications equipment provider’s stock valued at $90,489,000 after buying an additional 847,808 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Harmonic by 1.2% during the 3rd quarter. Wellington Management Group LLP now owns 7,805,740 shares of the communications equipment provider’s stock worth $75,169,000 after buying an additional 95,257 shares during the last quarter. Scopia Capital Management LP boosted its position in shares of Harmonic by 78.5% in the 3rd quarter. Scopia Capital Management LP now owns 5,649,163 shares of the communications equipment provider’s stock worth $54,401,000 after buying an additional 2,484,825 shares in the last quarter. Finally, Toronado Partners LLC grew its stake in Harmonic by 149.5% in the 3rd quarter. Toronado Partners LLC now owns 2,011,532 shares of the communications equipment provider’s stock valued at $19,371,000 after acquiring an additional 1,205,380 shares during the last quarter. Hedge funds and other institutional investors own 99.38% of the company’s stock.

Insider Activity

In related news, SVP Neven Haltmayer sold 24,695 shares of the firm’s 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 of the company’s stock, valued at $2,105,985.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Harmonic 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 transaction of $285,968.10. Following the transaction, the senior vice president now owns 181,864 shares of the company’s stock, valued at $2,105,985.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Nimrod Ben-Natan sold 100,000 shares of Harmonic stock in a transaction on Monday, February 5th. The shares were sold at an average price of $12.91, for a total transaction of $1,291,000.00. Following the completion of the transaction, the senior vice president now owns 302,214 shares in the company, valued at approximately $3,901,582.74. The disclosure for this sale can be found here. Insiders sold a total of 150,000 shares of company stock valued at $1,917,122 in the last 90 days. 2.20% of the stock is currently owned by insiders.

Harmonic Trading Up 2.9 %

HLIT stock traded up $0.27 during midday trading on Monday, hitting $9.47. The stock had a trading volume of 1,034,074 shares, compared to its average volume of 2,010,314. The company’s 50-day moving average price is $12.25 and its 200 day moving average price is $11.78. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.21 and a quick ratio of 0.91. The firm has a market cap of $1.06 billion, a PE ratio of 12.96 and a beta of 0.84. Harmonic Inc. has a 12-month low of $8.80 and a 12-month high of $18.43.

Harmonic (NASDAQ:HLIT) last released its earnings results on Monday, January 29th. The communications equipment provider reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.03. The firm had revenue of $167.10 million for the quarter, compared to the consensus estimate of $158.98 million. Harmonic had a return on equity of 4.71% and a net margin of 13.82%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.12 earnings per share. On average, equities research analysts predict that Harmonic Inc. will post 0.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.