120,524 Shares in Harmonic Inc. (NASDAQ:HLIT) Acquired by Bouvel Investment Partners LLC

Bouvel Investment Partners LLC acquired a new stake in Harmonic Inc. (NASDAQ:HLIT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 120,524 shares of the communications equipment provider’s stock, valued at approximately $1,756,000.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Harmonic by 1.7% during the first quarter. Vanguard Group Inc. now owns 9,852,064 shares of the communications equipment provider’s stock worth $132,412,000 after purchasing an additional 166,018 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Harmonic by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,741,998 shares of the communications equipment provider’s stock valued at $44,043,000 after acquiring an additional 294,922 shares during the period. Leeward Investments LLC MA boosted its stake in Harmonic by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 1,975,966 shares of the communications equipment provider’s stock worth $23,257,000 after acquiring an additional 105,162 shares during the last quarter. Clearline Capital LP grew its holdings in Harmonic by 777.6% during the second quarter. Clearline Capital LP now owns 1,570,461 shares of the communications equipment provider’s stock valued at $18,484,000 after purchasing an additional 1,391,504 shares during the period. Finally, Jane Street Group LLC raised its holdings in Harmonic by 1,276.3% in the first quarter. Jane Street Group LLC now owns 1,203,297 shares of the communications equipment provider’s stock worth $16,172,000 after purchasing an additional 1,115,870 shares during the period. Institutional investors and hedge funds own 99.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on HLIT shares. Raymond James cut shares of Harmonic from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $17.00 to $14.00 in a research report on Tuesday, October 29th. Barclays dropped their price target on Harmonic from $20.00 to $17.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Jefferies Financial Group cut Harmonic from a “buy” rating to a “hold” rating and lowered their target price for the stock from $14.00 to $12.50 in a research note on Tuesday, October 29th. Needham & Company LLC reissued a “buy” rating and set a $18.00 price objective on shares of Harmonic in a research report on Tuesday, October 29th. Finally, Northland Securities reduced their target price on shares of Harmonic from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.25.

Harmonic Price Performance

NASDAQ:HLIT opened at $12.32 on Thursday. The stock’s 50-day simple moving average is $13.46 and its 200 day simple moving average is $12.72. Harmonic Inc. has a 52-week low of $9.10 and a 52-week high of $15.46. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.62 and a current ratio of 2.08. The company has a market cap of $1.44 billion, a P/E ratio of 16.88 and a beta of 0.89.

Harmonic (NASDAQ:HLIT) last issued its earnings results on Monday, October 28th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.09. Harmonic had a net margin of 13.62% and a return on equity of 7.56%. The business had revenue of $195.80 million during the quarter, compared to the consensus estimate of $181.77 million. During the same period last year, the business posted ($0.05) EPS. Harmonic’s revenue was up 53.9% on a year-over-year basis. As a group, sell-side analysts forecast that Harmonic Inc. will post 0.52 EPS for the current fiscal year.

Harmonic Company 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.