Leeward Investments LLC MA Has $25.14 Million Position in Harmonic Inc. (NASDAQ:HLIT)

Leeward Investments LLC MA cut its holdings in Harmonic Inc. (NASDAQ:HLIT) by 4.2% in the first quarter, Holdings Channel.com reports. The fund owned 1,870,804 shares of the communications equipment provider’s stock after selling 81,854 shares during the quarter. Harmonic makes up about 1.1% of Leeward Investments LLC MA’s investment portfolio, making the stock its 18th largest position. Leeward Investments LLC MA’s holdings in Harmonic were worth $25,144,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its stake in shares of Harmonic by 237.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,591 shares of the communications equipment provider’s stock valued at $34,000 after purchasing an additional 1,824 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Harmonic by 12.7% during the third quarter. PNC Financial Services Group Inc. now owns 16,622 shares of the communications equipment provider’s stock valued at $160,000 after buying an additional 1,871 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Harmonic by 2.1% in the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 163,835 shares of the communications equipment provider’s stock worth $2,136,000 after buying an additional 3,331 shares during the last quarter. Boston Partners boosted its stake in shares of Harmonic by 5.8% during the 4th quarter. Boston Partners now owns 65,934 shares of the communications equipment provider’s stock worth $860,000 after acquiring an additional 3,622 shares in the last quarter. Finally, Keeley Teton Advisors LLC increased its holdings in shares of Harmonic by 21.2% during the 4th quarter. Keeley Teton Advisors LLC now owns 40,467 shares of the communications equipment provider’s stock valued at $528,000 after acquiring an additional 7,069 shares during the last quarter. 99.38% of the stock is owned by institutional investors.

Insider Buying and Selling at Harmonic

In other news, SVP Ian Graham sold 52,730 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $10.95, for a total transaction of $577,393.50. Following the completion of the transaction, the senior vice president now directly owns 63,616 shares of the company’s stock, valued at approximately $696,595.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.20% of the company’s stock.

Harmonic Stock Performance

HLIT stock traded up $0.04 during trading on Thursday, reaching $11.95. 686,296 shares of the stock were exchanged, compared to its average volume of 895,196. The stock has a 50 day simple moving average of $11.43 and a 200-day simple moving average of $12.05. The company has a current ratio of 1.09, a quick ratio of 0.78 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $1.34 billion, a P/E ratio of 19.92 and a beta of 0.89. Harmonic Inc. has a twelve month low of $8.80 and a twelve month high of $16.39.

Harmonic (NASDAQ:HLIT) last announced its quarterly earnings data on Monday, April 29th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The firm had revenue of $122.06 million for the quarter, compared to analyst estimates of $121.70 million. Harmonic had a return on equity of 1.35% and a net margin of 12.37%. Harmonic’s revenue for the quarter was down 22.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.06 EPS. As a group, sell-side analysts anticipate that Harmonic Inc. will post 0.36 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 target price on shares of Harmonic in a research report on Monday, June 17th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Harmonic presently has a consensus rating of “Buy” and an average target price 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.