Deutsche Bank AG Increases Position in Harmonic Inc. (NASDAQ:HLIT)

Deutsche Bank AG raised its holdings in Harmonic Inc. (NASDAQ:HLIT - Free Report) by 90.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 125,205 shares of the communications equipment provider's stock after purchasing an additional 59,496 shares during the quarter. Deutsche Bank AG owned 0.11% of Harmonic worth $1,656,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Harmonic in the 4th quarter valued at about $33,000. Russell Investments Group Ltd. boosted its position in Harmonic by 5,388.1% in the 4th quarter. Russell Investments Group Ltd. now owns 5,543 shares of the communications equipment provider's stock worth $73,000 after purchasing an additional 5,442 shares in the last quarter. AlphaQuest LLC grew its stake in shares of Harmonic by 14,765.9% during the 4th quarter. AlphaQuest LLC now owns 6,095 shares of the communications equipment provider's stock worth $81,000 after purchasing an additional 6,054 shares during the period. KBC Group NV grew its stake in shares of Harmonic by 84.8% during the 4th quarter. KBC Group NV now owns 6,295 shares of the communications equipment provider's stock worth $83,000 after purchasing an additional 2,888 shares during the period. Finally, Cresset Asset Management LLC purchased a new position in shares of Harmonic during the 4th quarter valued at approximately $133,000. 99.38% of the stock is owned by institutional investors and hedge funds.

Harmonic Price Performance

HLIT traded up $0.02 during trading on Thursday, reaching $9.19. The company's stock had a trading volume of 588,271 shares, compared to its average volume of 1,150,087. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 27.85 and a beta of 1.03. The firm has a fifty day simple moving average of $9.13 and a two-hundred day simple moving average of $10.90. Harmonic Inc. has a 1 year low of $7.91 and a 1 year high of $15.46. The company has a quick ratio of 1.80, a current ratio of 2.18 and a debt-to-equity ratio of 0.26.

Harmonic (NASDAQ:HLIT - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The communications equipment provider reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.06. The firm had revenue of $133.14 million for the quarter, compared to the consensus estimate of $127.51 million. Harmonic had a return on equity of 15.90% and a net margin of 5.78%. The business's revenue was up 9.1% on a year-over-year basis. As a group, analysts anticipate that Harmonic Inc. will post 0.31 EPS for the current year.

Harmonic declared that its board has authorized a stock repurchase plan on Monday, February 10th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the communications equipment provider to purchase up to 15.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Rosenblatt Securities lowered their price target on shares of Harmonic from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Needham & Company LLC restated a "buy" rating and set a $14.00 target price on shares of Harmonic in a research report on Tuesday, April 29th. Barclays restated an "underperform" rating on shares of Harmonic in a research note on Tuesday, April 29th. Jefferies Financial Group initiated coverage on Harmonic in a research report on Friday, February 21st. They set a "hold" rating on the stock. Finally, Wall Street Zen upgraded Harmonic from a "hold" rating to a "buy" rating in a research report on Thursday, March 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.33.

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.