Dimensional Fund Advisors LP Boosts Stake in Harmonic Inc. $HLIT

Key Points

• Dimensional Fund Advisors increased its Harmonic stake by 5.4% in the first quarter, bringing its holdings to 3.67 million shares valued at approximately $33.0 million. Institutional investors collectively own 99.38% of HLIT.
• Analyst sentiment remains mixed, with two Buy, three Hold and one Sell ratings. Harmonic has an overall “Hold” consensus and an average price target of $16.60.
• Two insiders sold shares in May, including a senior vice president who sold 31,766 shares and a director who sold 4,300 shares. Insiders retain a 1.74% ownership stake in the company.

Dimensional Fund Advisors LP grew its stake in shares of Harmonic Inc. (NASDAQ:HLIT - Free Report) by 5.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,673,398 shares of the communications equipment provider's stock after buying an additional 188,293 shares during the period. Dimensional Fund Advisors LP owned 3.39% of Harmonic worth $32,987,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. iSAM Funds UK Ltd purchased a new position in shares of Harmonic during the third quarter valued at approximately $49,000. Global Retirement Partners LLC grew its stake in Harmonic by 23,193.5% in the 4th quarter. Global Retirement Partners LLC now owns 7,221 shares of the communications equipment provider's stock worth $71,000 after acquiring an additional 7,190 shares during the period. KBC Group NV raised its holdings in Harmonic by 130.7% in the 4th quarter. KBC Group NV now owns 7,476 shares of the communications equipment provider's stock valued at $74,000 after acquiring an additional 4,236 shares during the last quarter. Royal Bank of Canada raised its holdings in Harmonic by 64.6% in the 4th quarter. Royal Bank of Canada now owns 7,645 shares of the communications equipment provider's stock valued at $75,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of Harmonic in the fourth quarter valued at $90,000. 99.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HLIT has been the subject of several analyst reports. Weiss Ratings upgraded Harmonic from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, July 17th. Jefferies Financial Group reissued a "hold" rating and issued a $15.00 price target on shares of Harmonic in a research note on Tuesday, May 12th. Barclays lifted their price target on Harmonic from $11.00 to $15.00 and gave the company an "equal weight" rating in a report on Tuesday, May 12th. Zacks Research downgraded shares of Harmonic from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 24th. Finally, Northland Securities set a $15.00 price objective on shares of Harmonic in a report on Tuesday, May 12th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Harmonic presently has an average rating of "Hold" and an average price target of $16.60.

Insider Activity at Harmonic

In other news, SVP Neven Haltmayer sold 31,766 shares of Harmonic stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $13.24, for a total transaction of $420,581.84. Following the sale, the senior vice president owned 133,924 shares in the company, valued at $1,773,153.76. This trade represents a 19.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stephanie Copeland sold 4,300 shares of Harmonic stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $13.30, for a total transaction of $57,190.00. Following the sale, the director owned 20,752 shares in the company, valued at $276,001.60. This represents a 17.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.74% of the company's stock.

Harmonic Trading Up 4.8%

Shares of HLIT opened at $12.37 on Wednesday. Harmonic Inc. has a 12 month low of $8.47 and a 12 month high of $17.68. The stock's 50-day moving average is $13.83 and its two-hundred day moving average is $11.70. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.27 and a quick ratio of 2.03. The stock has a market cap of $1.34 billion, a PE ratio of -33.43 and a beta of 1.32.

About Harmonic

Harmonic Inc NASDAQ: HLIT is a leading provider of video delivery infrastructure that enables service providers, broadcasters and content owners to capture, process and distribute high‐quality video across broadcast, cable, satellite and IP networks. The company's portfolio spans real‐time video compression solutions, including encoders and transcoders, as well as storage and server products designed for live production, playout and streaming on any device.

Harmonic's product lines include cable edge QAM modules and set‐top video processing platforms for traditional pay‐TV operators, alongside cloud‐native software for over‐the‐top (OTT) delivery, origin servers and content delivery network (CDN) services.

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