Harmonic Inc. (NASDAQ:HLIT) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its holdings in shares of Harmonic Inc. (NASDAQ:HLIT - Free Report) by 98.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,400 shares of the communications equipment provider's stock after selling 662,502 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Harmonic were worth $162,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Harmonic by 3.6% in the 2nd quarter. BlackRock Inc. now owns 17,297,705 shares of the communications equipment provider's stock worth $279,704,000 after purchasing an additional 603,429 shares during the period. Trigran Investments Inc. lifted its position in shares of Harmonic by 38.5% in the 3rd quarter. Trigran Investments Inc. now owns 9,636,809 shares of the communications equipment provider's stock worth $92,802,000 after purchasing an additional 2,677,338 shares during the period. Vanguard Group Inc. lifted its position in shares of Harmonic by 9.9% in the 3rd quarter. Vanguard Group Inc. now owns 9,396,603 shares of the communications equipment provider's stock worth $90,489,000 after purchasing an additional 847,808 shares during the period. Wellington Management Group LLP lifted its position in shares of Harmonic by 1.2% during the 3rd quarter. Wellington Management Group LLP now owns 7,805,740 shares of the communications equipment provider's stock valued at $75,169,000 after acquiring an additional 95,257 shares during the period. Finally, Scopia Capital Management LP lifted its position in shares of Harmonic by 78.5% during the 3rd quarter. Scopia Capital Management LP now owns 5,649,163 shares of the communications equipment provider's stock valued at $54,401,000 after acquiring an additional 2,484,825 shares during the period. 99.38% of the stock is owned by institutional investors.

Harmonic Stock Down 14.6 %

Shares of NASDAQ HLIT traded down $1.92 during trading on Tuesday, hitting $11.22. The stock had a trading volume of 6,595,822 shares, compared to its average volume of 1,859,818. Harmonic Inc. has a 12 month low of $8.80 and a 12 month 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. The company has a market capitalization of $1.26 billion, a PE ratio of 15.80 and a beta of 0.84. The firm has a fifty day moving average of $13.09 and a two-hundred day moving average of $11.72.

Harmonic (NASDAQ:HLIT - Get Free Report) last posted its earnings results on Monday, January 29th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.03. Harmonic had a net margin of 13.82% and a return on equity of 4.71%. The firm had revenue of $167.10 million during the quarter, compared to analyst estimates of $158.98 million. During the same quarter in the prior year, the business posted $0.12 EPS. The business's revenue was up 1.7% compared to the same quarter last year. As a group, equities research analysts forecast that Harmonic Inc. will post 0.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HLIT. TheStreet upgraded shares of Harmonic from a "c" rating to a "b" rating in a research report on Monday, January 29th. Rosenblatt Securities dropped their target price on shares of Harmonic from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Tuesday, January 30th. StockNews.com upgraded shares of Harmonic from a "sell" rating to a "hold" rating in a research report on Wednesday, February 28th. Raymond James lowered their price objective 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. Finally, Needham & Company LLC restated a "buy" rating and set a $18.00 price objective on shares of Harmonic in a report on Tuesday. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Harmonic has a consensus rating of "Buy" and a consensus price target of $17.20.

Insider Transactions at Harmonic

In related news, SVP Neven Haltmayer sold 14,747 shares of the 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 completion of the transaction, the senior vice president now owns 156,559 shares in the company, valued at $2,141,727.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, SVP Neven Haltmayer sold 14,747 shares of the 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 completion of the transaction, the senior vice president now owns 156,559 shares in the company, valued at $2,141,727.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Nimrod Ben-Natan sold 100,000 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $12.91, for a total transaction of $1,291,000.00. Following the transaction, the senior vice president now owns 302,214 shares of the company's stock, valued at approximately $3,901,582.74. The disclosure for this sale can be found here. Insiders sold a total of 150,000 shares of company stock worth $1,917,122 in the last quarter. 2.20% of the stock is currently owned by corporate insiders.

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.