Leeward Investments LLC MA Cuts Stock Holdings in Harmonic Inc. (NASDAQ:HLIT)

Leeward Investments LLC MA lessened its holdings in Harmonic Inc. (NASDAQ:HLIT - Free Report) by 4.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,750,844 shares of the communications equipment provider's stock after selling 81,586 shares during the quarter. Leeward Investments LLC MA owned 1.50% of Harmonic worth $16,791,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Principal Financial Group Inc. increased its holdings in shares of Harmonic by 2.8% in the first quarter. Principal Financial Group Inc. now owns 583,943 shares of the communications equipment provider's stock valued at $5,600,000 after purchasing an additional 15,756 shares during the last quarter. Teacher Retirement System of Texas grew its stake in Harmonic by 49.5% during the first quarter. Teacher Retirement System of Texas now owns 74,832 shares of the communications equipment provider's stock worth $718,000 after buying an additional 24,762 shares in the last quarter. Bouvel Investment Partners LLC lifted its holdings in shares of Harmonic by 1.8% in the first quarter. Bouvel Investment Partners LLC now owns 120,524 shares of the communications equipment provider's stock worth $1,156,000 after acquiring an additional 2,079 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Harmonic by 33.0% in the first quarter. Assenagon Asset Management S.A. now owns 348,382 shares of the communications equipment provider's stock worth $3,341,000 after acquiring an additional 86,390 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in Harmonic by 44.3% in the 1st quarter. Handelsbanken Fonder AB now owns 52,100 shares of the communications equipment provider's stock valued at $500,000 after buying an additional 16,000 shares during the last quarter. Institutional investors own 99.38% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Rosenblatt Securities reissued a "buy" rating and set a $11.00 target price on shares of Harmonic in a research report on Tuesday, June 17th. Wall Street Zen upgraded shares of Harmonic from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 6th. Needham & Company LLC reiterated a "buy" rating and issued a $14.00 price objective on shares of Harmonic in a research note on Tuesday, April 29th. Finally, Barclays reissued an "underperform" rating on shares of Harmonic in a research report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $12.33.

Harmonic Stock Up 3.7%

HLIT traded up $0.36 during mid-day trading on Monday, reaching $10.17. 2,339,957 shares of the stock were exchanged, compared to its average volume of 1,154,851. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.69 and a current ratio of 2.06. The stock has a market capitalization of $1.15 billion, a PE ratio of 22.60 and a beta of 1.05. The company has a 50 day moving average price of $9.26 and a two-hundred day moving average price of $10.25. Harmonic Inc. has a 1 year low of $7.91 and a 1 year high of $15.46.

Harmonic (NASDAQ:HLIT - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The communications equipment provider reported $0.11 earnings per share (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 net margin of 7.72% and a return on equity of 18.28%. Harmonic's quarterly revenue was up 9.1% compared to the same quarter last year. As a group, research analysts anticipate that Harmonic Inc. will post 0.31 EPS for the current year.

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.