Harmonic Inc. $HLIT Stake Raised by LSV Asset Management

LSV Asset Management boosted its holdings in Harmonic Inc. (NASDAQ:HLIT) by 799.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 114,200 shares of the communications equipment provider’s stock after acquiring an additional 101,500 shares during the quarter. LSV Asset Management owned about 0.10% of Harmonic worth $1,129,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Amalgamated Bank raised its position in Harmonic by 3.5% in the third quarter. Amalgamated Bank now owns 33,186 shares of the communications equipment provider’s stock worth $338,000 after acquiring an additional 1,116 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Harmonic by 7.4% in the third quarter. PNC Financial Services Group Inc. now owns 16,926 shares of the communications equipment provider’s stock worth $172,000 after acquiring an additional 1,162 shares in the last quarter. Significant Wealth Partners LLC raised its position in Harmonic by 15.3% in the third quarter. Significant Wealth Partners LLC now owns 13,687 shares of the communications equipment provider’s stock worth $139,000 after acquiring an additional 1,816 shares in the last quarter. Stephens Inc. AR raised its position in Harmonic by 6.5% in the fourth quarter. Stephens Inc. AR now owns 41,893 shares of the communications equipment provider’s stock worth $414,000 after acquiring an additional 2,548 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Harmonic by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,664 shares of the communications equipment provider’s stock worth $630,000 after acquiring an additional 2,853 shares in the last quarter. 99.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Rosenblatt Securities boosted their price target on shares of Harmonic from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Weiss Ratings downgraded Harmonic from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, March 6th. Wall Street Zen downgraded Harmonic from a “strong-buy” rating to a “buy” rating in a report on Sunday. Northland Securities set a $15.00 price objective on Harmonic in a report on Tuesday, May 12th. Finally, Barclays boosted their price objective on Harmonic from $11.00 to $15.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $16.60.

Insider Transactions at Harmonic

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

Harmonic Price Performance

NASDAQ HLIT opened at $17.11 on Thursday. The stock’s 50-day moving average price is $11.03 and its two-hundred day moving average price is $10.35. The company has a current ratio of 2.27, a quick ratio of 2.03 and a debt-to-equity ratio of 0.31. The company has a market cap of $1.86 billion, a PE ratio of -46.24 and a beta of 1.24. Harmonic Inc. has a 1 year low of $7.80 and a 1 year high of $17.59.

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.