Silverberg Bernstein Capital Management LLC Boosts Stock Holdings in Harmonic Inc. (NASDAQ:HLIT)

Silverberg Bernstein Capital Management LLC increased its stake in shares of Harmonic Inc. (NASDAQ:HLIT - Free Report) by 6.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 833,779 shares of the communications equipment provider's stock after purchasing an additional 50,652 shares during the quarter. Harmonic comprises about 7.4% of Silverberg Bernstein Capital Management LLC's portfolio, making the stock its biggest position. Silverberg Bernstein Capital Management LLC owned 0.71% of Harmonic worth $7,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of HLIT. GAMMA Investing LLC boosted its stake in Harmonic by 415.7% in the first quarter. GAMMA Investing LLC now owns 8,612 shares of the communications equipment provider's stock valued at $898,000 after acquiring an additional 6,942 shares during the last quarter. PharVision Advisers LLC bought a new position in Harmonic in the fourth quarter valued at approximately $138,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Harmonic by 18.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 322,262 shares of the communications equipment provider's stock valued at $4,264,000 after acquiring an additional 50,342 shares during the last quarter. Wolverine Trading LLC bought a new position in Harmonic in the fourth quarter valued at approximately $312,000. Finally, Squarepoint Ops LLC boosted its stake in Harmonic by 30.2% in the fourth quarter. Squarepoint Ops LLC now owns 585,340 shares of the communications equipment provider's stock valued at $7,744,000 after acquiring an additional 135,878 shares during the last quarter. 99.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on HLIT. Barclays reaffirmed an "underperform" rating on shares of Harmonic in a research note on Tuesday, April 29th. Jefferies Financial Group assumed coverage on shares of Harmonic in a research report on Friday, February 21st. They set a "hold" rating on the stock. Rosenblatt Securities reduced their price target on shares of Harmonic from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Northland Securities reduced their price target on shares of Harmonic from $14.00 to $12.50 and set an "outperform" rating on the stock in a research report on Tuesday, February 11th. Finally, Wall Street Zen raised shares of Harmonic from a "buy" rating to a "strong-buy" rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $12.33.

Harmonic Trading Up 1.8%

Shares of NASDAQ HLIT traded up $0.17 during midday trading on Friday, reaching $9.49. 460,503 shares of the stock were exchanged, compared to its average volume of 1,140,015. The business has a 50-day simple moving average of $9.07 and a two-hundred day simple moving average of $10.78. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 28.76 and a beta of 1.04. Harmonic Inc. has a 12 month low of $7.91 and a 12 month high of $15.46. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.18 and a quick ratio of 1.80.

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

Harmonic announced that its board has approved a stock repurchase plan on Monday, February 10th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the communications equipment provider to purchase up to 15.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

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.