Dynamic Technology Lab Private Ltd Buys 21,643 Shares of Harmonic Inc. (NASDAQ:HLIT)

Dynamic Technology Lab Private Ltd raised its stake in shares of Harmonic Inc. (NASDAQ:HLIT) by 147.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,345 shares of the communications equipment provider’s stock after acquiring an additional 21,643 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Harmonic were worth $530,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings 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 valued at $132,412,000 after acquiring an additional 166,018 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Harmonic by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,741,998 shares of the communications equipment provider’s stock valued at $44,043,000 after buying an additional 294,922 shares during the last quarter. Leeward Investments LLC MA raised its holdings in shares of Harmonic by 5.6% in the second quarter. Leeward Investments LLC MA now owns 1,975,966 shares of the communications equipment provider’s stock valued at $23,257,000 after buying an additional 105,162 shares during the last quarter. Clearline Capital LP raised its holdings in shares of Harmonic by 777.6% in 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 buying an additional 1,391,504 shares during the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of 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 valued at $16,172,000 after buying an additional 1,115,870 shares during the last quarter. 99.38% of the stock is owned by institutional investors.

Harmonic Price Performance

Harmonic stock opened at $12.82 on Friday. The firm has a market capitalization of $1.49 billion, a P/E ratio of 17.56 and a beta of 0.89. Harmonic Inc. has a 1 year low of $9.10 and a 1 year high of $15.46. The business has a 50-day moving average of $13.17 and a 200-day moving average of $12.81. The company has a current ratio of 2.08, a quick ratio of 1.62 and a debt-to-equity ratio of 0.29.

Harmonic (NASDAQ:HLIT) last posted its earnings results on Monday, October 28th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.09. The company had revenue of $195.80 million during the quarter, compared to analyst estimates of $181.77 million. Harmonic had a return on equity of 7.56% and a net margin of 13.62%. The company’s revenue for the quarter was up 53.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.05) EPS. On average, equities analysts anticipate that Harmonic Inc. will post 0.52 EPS for the current year.

Analyst Upgrades and Downgrades

HLIT has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price target on shares of Harmonic in a report on Tuesday, October 29th. Jefferies Financial Group cut Harmonic from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $14.00 to $12.50 in a report on Tuesday, October 29th. Raymond James cut Harmonic from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $17.00 to $14.00 in a report on Tuesday, October 29th. Northland Securities dropped their price objective on Harmonic from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Tuesday, October 29th. Finally, Rosenblatt Securities dropped their price objective on Harmonic from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Harmonic has an average rating of “Moderate Buy” and a consensus price target of $15.25.

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.