Stanley Laman Group Ltd. Sells 8,557 Shares of Harmonic Inc. (NASDAQ:HLIT)

Stanley Laman Group Ltd. trimmed its position in Harmonic Inc. (NASDAQ:HLIT) by 3.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 280,307 shares of the communications equipment provider’s stock after selling 8,557 shares during the period. Stanley Laman Group Ltd.’s holdings in Harmonic were worth $3,655,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in HLIT. Trigran Investments Inc. boosted its holdings in Harmonic by 38.5% in the third quarter. Trigran Investments Inc. now owns 9,636,809 shares of the communications equipment provider’s stock valued at $92,802,000 after acquiring an additional 2,677,338 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Harmonic by 9.9% during the 3rd quarter. Vanguard Group Inc. now owns 9,396,603 shares of the communications equipment provider’s stock worth $90,489,000 after buying an additional 847,808 shares during the period. Wellington Management Group LLP grew its position 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 period. Scopia Capital Management LP raised its stake in shares of Harmonic by 78.5% during the third 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 during the last quarter. Finally, Toronado Partners LLC lifted its holdings in Harmonic by 149.5% in the third quarter. Toronado Partners LLC now owns 2,011,532 shares of the communications equipment provider’s stock valued at $19,371,000 after buying an additional 1,205,380 shares during the period. 99.38% of the stock is owned by institutional investors and hedge funds.

Harmonic Stock Down 2.4 %

Shares of Harmonic stock traded down $0.23 on Thursday, hitting $9.20. The company had a trading volume of 3,202,483 shares, compared to its average volume of 1,945,112. Harmonic Inc. has a twelve month low of $8.80 and a twelve month high of $18.43. 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 stock has a 50-day moving average of $12.43 and a 200-day moving average of $11.76. The firm has a market capitalization of $1.03 billion, a P/E ratio of 13.11 and a beta of 0.84.

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

Insider Activity at Harmonic

In other Harmonic news, SVP Nimrod Ben-Natan sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $12.91, for a total value of $1,291,000.00. Following the transaction, the senior vice president now directly owns 302,214 shares of the company’s stock, valued at $3,901,582.74. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Nimrod Ben-Natan sold 100,000 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 302,214 shares of the company’s stock, valued at approximately $3,901,582.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Neven Haltmayer sold 10,558 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $13.11, for a total value of $138,415.38. Following the completion of the sale, the senior vice president now owns 171,306 shares of the company’s stock, valued at $2,245,821.66. The disclosure for this sale can be found here. Insiders sold 150,000 shares of company stock worth $1,917,122 over the last three months. Company insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on HLIT shares. StockNews.com upgraded shares of Harmonic from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. Raymond James dropped their price objective on Harmonic from $19.00 to $18.00 and set a “strong-buy” rating for the company in a report on Tuesday, January 30th. TheStreet upgraded Harmonic from a “c” rating to a “b” rating in a research report on Monday, January 29th. Rosenblatt Securities cut their price target on shares of Harmonic from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, January 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $18.00 price objective on shares of Harmonic in a report on Wednesday, April 17th. One investment 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $17.20.

About Harmonic

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.