Pacer Advisors Inc. Reduces Stock Holdings in Harmonic Inc. $HLIT

Pacer Advisors Inc. trimmed its position in shares of Harmonic Inc. (NASDAQ:HLIT) by 17.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 430,859 shares of the communications equipment provider’s stock after selling 91,145 shares during the quarter. Pacer Advisors Inc.’s holdings in Harmonic were worth $3,869,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Harmonic by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 12,022,963 shares of the communications equipment provider’s stock valued at $118,907,000 after buying an additional 148,281 shares during the period. State Street Corp increased its holdings in Harmonic by 1.8% in the 4th quarter. State Street Corp now owns 4,471,187 shares of the communications equipment provider’s stock worth $44,220,000 after acquiring an additional 80,791 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Harmonic by 5.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,673,398 shares of the communications equipment provider’s stock worth $32,987,000 after acquiring an additional 188,293 shares during the last quarter. Alliancebernstein L.P. raised its stake in Harmonic by 2.9% in the 3rd quarter. Alliancebernstein L.P. now owns 2,406,945 shares of the communications equipment provider’s stock valued at $24,503,000 after acquiring an additional 68,921 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in Harmonic by 2.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,196,469 shares of the communications equipment provider’s stock valued at $19,724,000 after acquiring an additional 54,157 shares during the period. 99.38% of the stock is owned by hedge funds and other institutional investors.

Harmonic Stock Performance

NASDAQ:HLIT opened at $11.68 on Friday. The business’s fifty day moving average is $13.62 and its 200 day moving average is $11.72. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -31.57 and a beta of 1.32. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.03 and a current ratio of 2.27. Harmonic Inc. has a 52-week low of $8.47 and a 52-week high of $17.68.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 price objective on shares of Harmonic in a report on Monday, June 15th. Northland Securities set a $15.00 target price on shares of Harmonic in a research note on Tuesday, May 12th. Barclays boosted their price target on shares of Harmonic from $11.00 to $15.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 12th. Zacks Research cut shares of Harmonic from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 24th. Finally, Needham & Company LLC raised their price objective on shares of Harmonic from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Harmonic has a consensus rating of “Hold” and an average price target of $16.60.

Insider Transactions at Harmonic

In other news, SVP Neven Haltmayer sold 31,766 shares of the 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 directly owned 133,924 shares of the company’s stock, valued at approximately $1,773,153.76. This represents a 19.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stephanie Copeland sold 4,300 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $13.30, for a total transaction of $57,190.00. Following the completion of the sale, the director directly owned 20,752 shares in the company, 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. 1.74% of the stock is owned by insiders.

Harmonic Company 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.