Dynamic Technology Lab Private Ltd Has $530,000 Stock Holdings in Harmonic Inc. (NASDAQ:HLIT)

Dynamic Technology Lab Private Ltd lifted its holdings in Harmonic Inc. (NASDAQ:HLIT) by 147.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 36,345 shares of the communications equipment provider’s stock after purchasing 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 SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of HLIT. Charles Schwab Investment Management Inc. lifted its stake in Harmonic by 3.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,036,729 shares of the communications equipment provider’s stock valued at $15,105,000 after acquiring an additional 34,405 shares in the last quarter. Intech Investment Management LLC lifted its stake in Harmonic by 412.4% in the 3rd quarter. Intech Investment Management LLC now owns 193,310 shares of the communications equipment provider’s stock valued at $2,817,000 after acquiring an additional 155,580 shares in the last quarter. Royce & Associates LP lifted its stake in Harmonic by 12.6% in the 3rd quarter. Royce & Associates LP now owns 1,019,638 shares of the communications equipment provider’s stock valued at $14,856,000 after acquiring an additional 113,929 shares in the last quarter. Bouvel Investment Partners LLC bought a new stake in shares of Harmonic during the 3rd quarter worth approximately $1,756,000. Finally, Versor Investments LP bought a new stake in shares of Harmonic during the 3rd quarter worth approximately $227,000. 99.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on HLIT shares. Rosenblatt Securities dropped their price objective on Harmonic from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Northland Securities dropped their price target on Harmonic from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. Needham & Company LLC restated a “buy” rating and issued a $18.00 price target on shares of Harmonic in a research note 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 note on Tuesday, October 29th. Finally, Jefferies Financial Group cut Harmonic from a “buy” rating to a “hold” rating and dropped their price target for the company from $14.00 to $12.50 in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Harmonic has an average rating of “Moderate Buy” and a consensus target price of $15.25.

Harmonic Stock Performance

Shares of NASDAQ HLIT opened at $12.82 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.08 and a quick ratio of 1.62. The stock’s fifty day moving average price is $13.17 and its two-hundred day moving average price is $12.81. Harmonic Inc. has a one year low of $9.10 and a one year high of $15.46. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 17.56 and a beta of 0.89.

Harmonic (NASDAQ:HLIT) last released 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 for 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%. Harmonic’s quarterly revenue was up 53.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.05) EPS. On average, equities analysts forecast that Harmonic Inc. will post 0.52 EPS for the current year.

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.