Leeward Investments LLC MA Sells 15,860 Shares of Harmonic Inc. (NASDAQ:HLIT)

Leeward Investments LLC MA lowered its stake in Harmonic Inc. (NASDAQ:HLIT) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,952,658 shares of the communications equipment provider’s stock after selling 15,860 shares during the period. Harmonic accounts for approximately 1.2% of Leeward Investments LLC MA’s holdings, making the stock its 11th biggest holding. Leeward Investments LLC MA owned 1.74% of Harmonic worth $25,463,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in HLIT. Kestra Advisory Services LLC bought a new stake in shares of Harmonic during the 3rd quarter valued at $131,000. Avior Wealth Management LLC bought a new stake in shares of Harmonic during the 4th quarter valued at $137,000. PNC Financial Services Group Inc. boosted its holdings in shares of Harmonic by 12.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 16,622 shares of the communications equipment provider’s stock valued at $160,000 after buying an additional 1,871 shares in the last quarter. Innovis Asset Management LLC bought a new stake in shares of Harmonic during the 3rd quarter valued at $174,000. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Harmonic by 205.3% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 23,200 shares of the communications equipment provider’s stock valued at $223,000 after buying an additional 15,600 shares in the last quarter. Institutional investors own 99.38% of the company’s stock.

Insider Buying and Selling at Harmonic

In other Harmonic news, SVP Neven Haltmayer sold 14,747 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $13.68, for a total transaction of $201,738.96. Following the transaction, the senior vice president now owns 156,559 shares in the company, valued at approximately $2,141,727.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Nimrod Ben-Natan sold 100,000 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $12.91, for a total value of $1,291,000.00. Following the transaction, the senior vice president now owns 302,214 shares in the company, valued at approximately $3,901,582.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Neven Haltmayer sold 14,747 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $13.68, for a total transaction of $201,738.96. Following the completion of the transaction, the senior vice president now owns 156,559 shares in the company, valued at approximately $2,141,727.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 150,000 shares of company stock worth $1,917,122. Company insiders own 2.20% of the company’s stock.

Harmonic Stock Performance

Shares of Harmonic stock opened at $9.20 on Friday. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 12.96 and a beta of 0.84. The firm’s 50-day moving average is $12.25 and its 200 day moving average is $11.74. Harmonic Inc. has a 1 year low of $8.80 and a 1 year high of $18.43. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.21 and a quick ratio of 0.91.

Harmonic (NASDAQ:HLIT) last posted its earnings results on Monday, January 29th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.03. The business had revenue of $167.10 million for the quarter, compared to analysts’ expectations of $158.98 million. Harmonic had a net margin of 13.82% and a return on equity of 4.71%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 EPS. Sell-side analysts anticipate that Harmonic Inc. will post 0.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on HLIT shares. Raymond James dropped their target price on shares of Harmonic from $19.00 to $18.00 and set a “strong-buy” rating on the stock in a report on Tuesday, January 30th. StockNews.com upgraded shares of Harmonic from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. TheStreet upgraded shares of Harmonic from a “c” rating to a “b” rating in a research note on Monday, January 29th. Rosenblatt Securities dropped their price target on shares of Harmonic from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, January 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price target on shares of Harmonic in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Harmonic currently has a consensus rating of “Buy” and an average target price of $17.20.

About Harmonic

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.