Marshall Wace LLP Has $551,000 Stock Position in Harmonic Inc. (NASDAQ:HLIT)

Marshall Wace LLP lessened its holdings in shares of Harmonic Inc. (NASDAQ:HLIT) by 95.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,685 shares of the communications equipment provider’s stock after selling 842,832 shares during the period. Marshall Wace LLP’s holdings in Harmonic were worth $551,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of HLIT. Invesco Ltd. lifted its holdings in Harmonic by 20.0% during the 4th quarter. Invesco Ltd. now owns 7,788,714 shares of the communications equipment provider’s stock worth $103,045,000 after buying an additional 1,300,128 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Harmonic by 175.9% in the fourth quarter. JPMorgan Chase & Co. now owns 681,425 shares of the communications equipment provider’s stock worth $9,015,000 after acquiring an additional 434,481 shares during the period. Raymond James Financial Inc. bought a new stake in Harmonic in the fourth quarter valued at approximately $4,292,000. Intech Investment Management LLC increased its position in Harmonic by 128.3% during the 4th quarter. Intech Investment Management LLC now owns 441,356 shares of the communications equipment provider’s stock valued at $5,839,000 after purchasing an additional 248,046 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Harmonic by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 11,063,328 shares of the communications equipment provider’s stock worth $146,368,000 after purchasing an additional 235,188 shares during the last quarter. Institutional investors own 99.38% of the company’s stock.

Insider Buying and Selling at Harmonic

In related news, Director Daniel T. Whalen bought 3,000 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were bought at an average price of $10.15 per share, with a total value of $30,450.00. Following the completion of the transaction, the director now directly owns 8,840 shares in the company, valued at approximately $89,726. This represents a 51.37 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Nimrod Ben-Natan purchased 7,780 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was bought at an average cost of $9.65 per share, with a total value of $75,077.00. Following the completion of the transaction, the chief executive officer now directly owns 347,797 shares in the company, valued at $3,356,241.05. The trade was a 2.29 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 32,780 shares of company stock worth $316,607. Insiders own 2.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on HLIT shares. Jefferies Financial Group started coverage on shares of Harmonic in a research report on Friday, February 21st. They set a “hold” rating for the company. Barclays reissued an “underperform” rating on shares of Harmonic in a research report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $14.00 target price on shares of Harmonic in a research report on Tuesday. Northland Securities lowered their target price on Harmonic from $14.00 to $12.50 and set an “outperform” rating for the company in a report on Tuesday, February 11th. Finally, Rosenblatt Securities cut their price target on Harmonic from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Harmonic has a consensus rating of “Moderate Buy” and an average target price of $12.33.

Harmonic Trading Down 0.2 %

Shares of Harmonic stock opened at $9.00 on Friday. The stock has a market capitalization of $1.05 billion, a PE ratio of 27.27 and a beta of 0.92. Harmonic Inc. has a 52 week low of $7.91 and a 52 week high of $15.46. The stock has a 50 day moving average price of $9.55 and a two-hundred day moving average price of $11.39. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.80 and a current ratio of 2.18.

Harmonic (NASDAQ:HLIT) last posted its quarterly earnings results on Monday, April 28th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.06. Harmonic had a net margin of 5.78% and a return on equity of 15.90%. The business had revenue of $133.14 million during the quarter, compared to the consensus estimate of $127.51 million. The business’s revenue was up 9.1% on a year-over-year basis. As a group, equities analysts anticipate that Harmonic Inc. will post 0.31 earnings per share for the current fiscal year.

Harmonic announced that its board has approved a stock buyback plan on Monday, February 10th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the communications equipment provider to reacquire up to 15.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Harmonic 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.