Skylands Capital LLC Acquires 20,189 Shares of Harmonic Inc. (NASDAQ:HLIT)

Skylands Capital LLC raised its holdings in Harmonic Inc. (NASDAQ:HLIT) by 15.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 149,100 shares of the communications equipment provider’s stock after buying an additional 20,189 shares during the quarter. Skylands Capital LLC’s holdings in Harmonic were worth $1,944,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC bought a new stake in shares of Harmonic in the third quarter valued at approximately $131,000. Avior Wealth Management LLC bought a new stake in Harmonic in the 4th quarter valued at $137,000. PNC Financial Services Group Inc. grew its position in Harmonic by 12.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 16,622 shares of the communications equipment provider’s stock worth $160,000 after purchasing an additional 1,871 shares during the last quarter. Innovis Asset Management LLC bought a new position in shares of Harmonic during the 3rd quarter worth about $174,000. Finally, Skandinaviska Enskilda Banken AB publ raised its position in shares of Harmonic by 205.3% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 23,200 shares of the communications equipment provider’s stock valued at $223,000 after buying an additional 15,600 shares during the last quarter. 99.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on HLIT. TheStreet raised Harmonic from a “c” rating to a “b” rating in a report on Monday, January 29th. StockNews.com raised Harmonic from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. Rosenblatt Securities decreased their price target on shares of Harmonic from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, January 30th. Raymond James cut their price target on shares of Harmonic from $19.00 to $18.00 and set a “strong-buy” rating for the company in a research note on Tuesday, January 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of Harmonic in a research note on Wednesday, April 17th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Harmonic presently has an average rating of “Buy” and an average price target of $17.20.

Harmonic Price Performance

NASDAQ:HLIT traded up $0.27 on Monday, reaching $9.47. The stock had a trading volume of 1,034,074 shares, compared to its average volume of 2,010,314. The company has a quick ratio of 0.91, a current ratio of 1.21 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.06 billion, a P/E ratio of 12.96 and a beta of 0.84. Harmonic Inc. has a 1-year low of $8.80 and a 1-year high of $18.43. The stock has a fifty day moving average price of $12.25 and a 200-day moving average price of $11.78.

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

Insider Buying and Selling at Harmonic

In related news, SVP Neven Haltmayer sold 24,695 shares of Harmonic stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $11.58, for a total value of $285,968.10. Following the completion of the transaction, the senior vice president now directly owns 181,864 shares of the company’s stock, valued at $2,105,985.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Harmonic news, SVP Neven Haltmayer sold 24,695 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $11.58, for a total value of $285,968.10. Following the completion of the sale, the senior vice president now owns 181,864 shares in the company, valued at approximately $2,105,985.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Nimrod Ben-Natan sold 100,000 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $12.91, for a total transaction of $1,291,000.00. Following the completion of the transaction, the senior vice president now directly owns 302,214 shares of the company’s stock, valued at $3,901,582.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 150,000 shares of company stock worth $1,917,122. 2.20% of the stock is currently owned by insiders.

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.