Louisiana State Employees Retirement System Makes New Investment in Harmonic Inc. $HLIT

Louisiana State Employees Retirement System purchased a new stake in Harmonic Inc. (NASDAQ:HLIT) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 49,800 shares of the communications equipment provider’s stock, valued at approximately $447,000.

Several other hedge funds and other institutional investors have also made changes to their positions in HLIT. Silverberg Bernstein Capital Management LLC increased its stake in shares of Harmonic by 2.1% during the first quarter. Silverberg Bernstein Capital Management LLC now owns 1,327,455 shares of the communications equipment provider’s stock worth $11,921,000 after buying an additional 27,817 shares during the period. Brady Martz Wealth Solutions LLC purchased a new position in Harmonic in the first quarter worth approximately $143,000. Hsbc Holdings PLC lifted its stake in Harmonic by 33.4% in the fourth quarter. Hsbc Holdings PLC now owns 30,266 shares of the communications equipment provider’s stock worth $299,000 after acquiring an additional 7,583 shares during the last quarter. Alpine Global Management LLC acquired a new position in Harmonic during the 4th quarter worth approximately $179,000. Finally, Aristides Capital LLC acquired a new position in Harmonic during the 4th quarter worth approximately $202,000. Hedge funds and other institutional investors own 99.38% of the company’s stock.

Harmonic Stock Up 2.2%

HLIT stock opened at $13.73 on Thursday. The stock has a market cap of $1.49 billion, a P/E ratio of -37.11 and a beta of 1.29. The company has a current ratio of 2.27, a quick ratio of 2.03 and a debt-to-equity ratio of 0.31. Harmonic Inc. has a twelve month low of $7.80 and a twelve month high of $17.68. The company’s 50 day moving average is $14.05 and its two-hundred day moving average is $11.39.

Insider Buying and Selling at Harmonic

In other Harmonic news, SVP Neven Haltmayer sold 31,766 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $13.24, for a total transaction of $420,581.84. Following the transaction, the senior vice president owned 133,924 shares of the company’s stock, valued at approximately $1,773,153.76. This trade represents a 19.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stephanie Copeland sold 4,300 shares of Harmonic stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $13.30, for a total value of $57,190.00. Following the sale, the director owned 20,752 shares in the company, valued at $276,001.60. This trade represents a 17.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.74% of the stock is owned by company insiders.

Analysts Set New Price Targets

HLIT has been the topic of a number of analyst reports. Zacks Research upgraded shares of Harmonic from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 25th. Weiss Ratings downgraded shares of Harmonic from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, July 2nd. Barclays increased their target price on Harmonic from $11.00 to $15.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Needham & Company LLC raised their price target on Harmonic from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Finally, Northland Securities set a $15.00 price target on Harmonic in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Harmonic presently has an average rating of “Moderate Buy” and a consensus target price of $16.60.

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.