Harmonic Inc. (NASDAQ:HLIT) Shares Sold by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP decreased its holdings in Harmonic Inc. (NASDAQ:HLIT) by 14.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 333,233 shares of the communications equipment provider’s stock after selling 56,352 shares during the period. Advantage Alpha Capital Partners LP’s holdings in Harmonic were worth $4,855,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Clearline Capital LP grew its holdings in 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 purchasing an additional 1,391,504 shares during the period. Jane Street Group LLC increased its holdings in shares of Harmonic by 1,276.3% during the 1st quarter. Jane Street Group LLC now owns 1,203,297 shares of the communications equipment provider’s stock worth $16,172,000 after buying an additional 1,115,870 shares during the last quarter. Marshall Wace LLP raised its position in shares of Harmonic by 1,952.4% in the 2nd quarter. Marshall Wace LLP now owns 978,127 shares of the communications equipment provider’s stock worth $11,513,000 after buying an additional 930,469 shares during the period. Point72 Asset Management L.P. acquired a new position in Harmonic in the second quarter valued at $7,687,000. Finally, Assenagon Asset Management S.A. grew its position in Harmonic by 117.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,187,528 shares of the communications equipment provider’s stock valued at $17,302,000 after acquiring an additional 642,033 shares during the period. 99.38% of the stock is currently owned by hedge funds and other institutional investors.

Harmonic Price Performance

HLIT opened at $12.39 on Tuesday. Harmonic Inc. has a twelve month low of $9.10 and a twelve month high of $15.46. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 16.97 and a beta of 0.89. The company has a current ratio of 2.08, a quick ratio of 1.62 and a debt-to-equity ratio of 0.29. The company has a fifty day simple moving average of $13.26 and a 200 day simple moving average of $12.80.

Harmonic (NASDAQ:HLIT) last announced its earnings results on Monday, October 28th. The communications equipment provider reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.09. Harmonic had a return on equity of 7.56% and a net margin of 13.62%. The company 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 firm earned ($0.05) earnings per share. The company’s revenue was up 53.9% on a year-over-year basis. Equities research analysts expect that Harmonic Inc. will post 0.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on HLIT shares. Rosenblatt Securities cut their price objective on Harmonic from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Northland Securities cut their price target on shares of Harmonic from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price target on shares of Harmonic in a research report on Tuesday, October 29th. Barclays dropped their price objective on shares of Harmonic from $20.00 to $17.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Finally, Raymond James lowered shares of Harmonic from a “strong-buy” rating to an “outperform” rating and reduced their target price for the company from $17.00 to $14.00 in a report 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, Harmonic presently 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.