Globeflex Capital L P Invests $840,000 in Harmonic Inc. $HLIT

Globeflex Capital L P purchased a new position in Harmonic Inc. (NASDAQ:HLIT) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 84,974 shares of the communications equipment provider’s stock, valued at approximately $840,000. Globeflex Capital L P owned about 0.08% of Harmonic as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Harmonic by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 12,022,963 shares of the communications equipment provider’s stock worth $118,907,000 after purchasing an additional 148,281 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Harmonic by 1.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,461,043 shares of the communications equipment provider’s stock worth $35,232,000 after purchasing an additional 42,280 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Harmonic by 2.9% in the 3rd quarter. Alliancebernstein L.P. now owns 2,406,945 shares of the communications equipment provider’s stock worth $24,503,000 after purchasing an additional 68,921 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Harmonic by 10.8% in the 3rd quarter. Marshall Wace LLP now owns 2,132,625 shares of the communications equipment provider’s stock worth $21,710,000 after purchasing an additional 207,476 shares during the last quarter. Finally, Alyeska Investment Group L.P. boosted its position in shares of Harmonic by 9.5% in the 3rd quarter. Alyeska Investment Group L.P. now owns 2,013,804 shares of the communications equipment provider’s stock worth $20,501,000 after purchasing an additional 174,203 shares during the last quarter. 99.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on HLIT. Wall Street Zen lowered Harmonic from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. Jefferies Financial Group reiterated a “hold” rating and set a $15.00 target price on shares of Harmonic in a report on Tuesday, May 12th. Northland Securities set a $15.00 target price on Harmonic in a report on Tuesday, May 12th. Rosenblatt Securities lifted their target price on Harmonic from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Needham & Company LLC lifted their target price on 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, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $16.60.

Insider Transactions at Harmonic

In other news, SVP Neven Haltmayer sold 31,766 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was 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 in the company, valued at $1,773,153.76. The trade was a 19.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Stephanie Copeland sold 4,300 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $13.30, for a total value of $57,190.00. Following the completion of the sale, the director owned 20,752 shares in the company, valued at approximately $276,001.60. This trade represents a 17.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.74% of the company’s stock.

Harmonic Stock Performance

HLIT stock opened at $14.61 on Friday. The business’s 50-day moving average price is $11.77 and its two-hundred day moving average price is $10.58. The company has a current ratio of 2.27, a quick ratio of 2.03 and a debt-to-equity ratio of 0.31. The firm has a market cap of $1.59 billion, a PE ratio of -39.49 and a beta of 1.32. Harmonic Inc. has a 1-year low of $7.80 and a 1-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.