Needham Investment Management LLC Reduces Holdings in Harmonic Inc. $HLIT

Needham Investment Management LLC decreased its position in shares of Harmonic Inc. (NASDAQ:HLIT) by 9.2% in the 4th quarter, according to 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’s holdings in Harmonic were worth $5,390,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in Harmonic by 7.4% during the third quarter. PNC Financial Services Group Inc. now owns 16,926 shares of the communications equipment provider’s stock valued at $172,000 after purchasing an additional 1,162 shares during the last quarter. Stephens Inc. AR increased its stake in shares of 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 purchasing an additional 2,548 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of 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 valued at $630,000 after purchasing an additional 2,853 shares during the period. Horizon Investments LLC lifted its stake in shares of Harmonic by 5.7% during the 4th quarter. Horizon Investments LLC now owns 60,708 shares of the communications equipment provider’s stock valued at $600,000 after buying an additional 3,280 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of Harmonic by 130.7% during the 4th 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 in the last quarter. 99.38% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Neven Haltmayer sold 31,766 shares of Harmonic stock in a transaction 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 approximately $1,773,153.76. This trade represents a 19.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephanie Copeland sold 4,300 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $13.30, for a total value of $57,190.00. Following the transaction, the director owned 20,752 shares of the company’s stock, valued at approximately $276,001.60. The trade was a 17.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.74% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on HLIT. Rosenblatt Securities reiterated a “buy” rating and issued a $20.00 price objective on shares of Harmonic in a research note on Monday. Barclays increased their target price on Harmonic from $11.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Needham & Company LLC lifted their price target on Harmonic from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Northland Securities set a $15.00 price objective on Harmonic in a research note on Tuesday, May 12th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $15.00 target price on shares of Harmonic in a research note on Tuesday, May 12th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Harmonic currently has a consensus rating of “Hold” and an average target price of $16.60.

Harmonic Stock Up 0.9%

Shares of NASDAQ:HLIT opened at $15.07 on Tuesday. The firm has a fifty day moving average price of $12.46 and a two-hundred day moving average price of $10.83. The company has a market cap of $1.64 billion, a price-to-earnings ratio of -40.73 and a beta of 1.32. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.27 and a quick ratio of 2.03. Harmonic Inc. has a one year low of $7.80 and a one year high of $17.68.

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.