Stanley Laman Group Ltd. Cuts Stake in Harmonic Inc. (NASDAQ:HLIT)

Stanley Laman Group Ltd. reduced its position in Harmonic Inc. (NASDAQ:HLIT) by 6.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 300,196 shares of the communications equipment provider’s stock after selling 22,157 shares during the quarter. Stanley Laman Group Ltd. owned 0.26% of Harmonic worth $2,879,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Amundi raised its holdings in shares of Harmonic by 113.3% in the 4th quarter. Amundi now owns 71,976 shares of the communications equipment provider’s stock valued at $962,000 after purchasing an additional 38,230 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Harmonic by 5,388.1% during the fourth quarter. Russell Investments Group Ltd. now owns 5,543 shares of the communications equipment provider’s stock valued at $73,000 after buying an additional 5,442 shares during the period. Raymond James Financial Inc. bought a new position in Harmonic in the fourth quarter worth approximately $4,292,000. Principal Financial Group Inc. raised its stake in Harmonic by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 568,187 shares of the communications equipment provider’s stock worth $7,517,000 after buying an additional 17,562 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Harmonic by 13.3% during the fourth quarter. Northern Trust Corp now owns 1,252,837 shares of the communications equipment provider’s stock worth $16,575,000 after buying an additional 147,274 shares during the period. 99.38% of the stock is owned by hedge funds and other institutional investors.

Harmonic Stock Up 0.9%

NASDAQ:HLIT opened at $9.26 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.18 and a quick ratio of 1.80. The company’s fifty day moving average price is $9.12 and its 200-day moving average price is $10.70. Harmonic Inc. has a 1-year low of $7.91 and a 1-year high of $15.46. The firm has a market capitalization of $1.05 billion, a P/E ratio of 28.06 and a beta of 1.04.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wall Street Zen raised Harmonic from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 6th. Rosenblatt Securities decreased their price target on shares of Harmonic from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, April 29th. Jefferies Financial Group assumed coverage on shares of Harmonic in a report on Friday, February 21st. They issued a “hold” rating on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Harmonic in a research report on Tuesday, April 29th. Finally, Barclays reissued an “underperform” rating on shares of Harmonic in a research report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.33.

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.