Harmonic Inc. $HLIT Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its stake in Harmonic Inc. (NASDAQ:HLIT) by 65.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,886 shares of the communications equipment provider’s stock after selling 43,632 shares during the period. SG Americas Securities LLC’s holdings in Harmonic were worth $206,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of HLIT. Inspire Investing LLC grew its position in Harmonic by 5.4% in the 4th quarter. Inspire Investing LLC now owns 47,233 shares of the communications equipment provider’s stock valued at $467,000 after buying an additional 2,428 shares during the last quarter. Stephens Inc. AR lifted its stake in shares of Harmonic by 6.5% in the 4th quarter. Stephens Inc. AR now owns 41,893 shares of the communications equipment provider’s stock worth $414,000 after acquiring an additional 2,548 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Harmonic by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,664 shares of the communications equipment provider’s stock worth $630,000 after acquiring an additional 2,853 shares during the period. Royal Bank of Canada increased its stake in shares of Harmonic by 64.6% during the fourth quarter. Royal Bank of Canada now owns 7,645 shares of the communications equipment provider’s stock worth $75,000 after acquiring an additional 3,000 shares during the period. Finally, Horizon Investments LLC raised its holdings in Harmonic by 5.7% during the fourth quarter. Horizon Investments LLC now owns 60,708 shares of the communications equipment provider’s stock worth $600,000 after purchasing an additional 3,280 shares in the last quarter. 99.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Harmonic news, SVP Neven Haltmayer sold 31,766 shares of the company’s 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 transaction, the senior vice president directly owned 133,924 shares in the company, valued at approximately $1,773,153.76. This represents a 19.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephanie Copeland sold 4,300 shares of the firm’s 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 sale, the director directly owned 20,752 shares in the company, valued at $276,001.60. This represents a 17.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Zacks Research upgraded shares of Harmonic from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 25th. Rosenblatt Securities reissued a “buy” rating and issued a $20.00 price target on shares of Harmonic in a report on Monday, June 15th. Barclays increased their price objective on Harmonic from $11.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Northland Securities set a $15.00 target price on shares of Harmonic in a research report on Tuesday, May 12th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $15.00 price target on shares of Harmonic in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.60.

Harmonic Price Performance

Harmonic stock traded down $0.09 during mid-day trading on Friday, hitting $14.05. 1,033,927 shares of the company were exchanged, compared to its average volume of 2,168,171. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.27 and a quick ratio of 2.03. The business’s 50 day simple moving average is $14.21 and its two-hundred day simple moving average is $11.44. The company has a market capitalization of $1.52 billion, a P/E ratio of -37.97 and a beta of 1.29. Harmonic Inc. has a 12-month low of $7.80 and a 12-month high of $17.68.

About Harmonic

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.