Susquehanna Fundamental Investments LLC Takes Position in Harmonic Inc. (NASDAQ:HLIT)

Susquehanna Fundamental Investments LLC purchased a new stake in shares of Harmonic Inc. (NASDAQ:HLIT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 155,786 shares of the communications equipment provider's stock, valued at approximately $2,061,000. Susquehanna Fundamental Investments LLC owned approximately 0.13% of Harmonic at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in HLIT. Russell Investments Group Ltd. lifted 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 valued at $73,000 after purchasing an additional 5,442 shares during the last quarter. AlphaQuest LLC increased its stake in shares of Harmonic by 14,765.9% during the fourth quarter. AlphaQuest LLC now owns 6,095 shares of the communications equipment provider's stock valued at $81,000 after acquiring an additional 6,054 shares during the period. KBC Group NV lifted its holdings in Harmonic by 84.8% in the 4th quarter. KBC Group NV now owns 6,295 shares of the communications equipment provider's stock valued at $83,000 after acquiring an additional 2,888 shares during the last quarter. Cibc World Markets Corp bought a new position in shares of Harmonic in the fourth quarter valued at $137,000. Finally, Entropy Technologies LP acquired a new position in shares of Harmonic in the 4th quarter valued at $146,000. Institutional investors own 99.38% of the company's stock.

Harmonic Trading Down 0.5 %

Shares of Harmonic stock traded down $0.05 on Tuesday, hitting $8.89. 86,010 shares of the company's stock traded hands, compared to its average volume of 1,169,918. Harmonic Inc. has a one year low of $7.91 and a one year high of $15.46. The firm's 50-day moving average price is $9.53 and its two-hundred day moving average price is $11.31. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.18 and a quick ratio of 1.80. The stock has a market capitalization of $1.01 billion, a PE ratio of 26.86 and a beta of 1.03.

Harmonic (NASDAQ:HLIT - Get Free Report) last posted its earnings results 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 company had revenue of $133.14 million during 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 business's quarterly revenue was up 9.1% on a year-over-year basis. On average, research analysts expect that Harmonic Inc. will post 0.31 EPS for the current fiscal year.

Harmonic announced that its Board of Directors has authorized a stock repurchase program on Monday, February 10th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the communications equipment provider to reacquire up to 15.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In other Harmonic news, CEO Nimrod Ben-Natan acquired 7,780 shares of the company's stock in a transaction on Thursday, February 13th. The stock was acquired at an average price of $9.65 per share, for a total transaction of $75,077.00. Following the acquisition, the chief executive officer now owns 347,797 shares in the company, valued at $3,356,241.05. This represents a 2.29 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Walter Jankovic bought 12,000 shares of the business's stock in a transaction dated Wednesday, February 12th. The stock was bought at an average cost of $9.44 per share, for a total transaction of $113,280.00. Following the completion of the purchase, the chief financial officer now owns 46,129 shares of the company's stock, valued at approximately $435,457.76. The trade was a 35.16 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 32,780 shares of company stock worth $316,607. Corporate insiders own 2.36% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. StockNews.com upgraded Harmonic from a "hold" rating to a "buy" rating in a report on Thursday, March 27th. Needham & Company LLC reiterated a "buy" rating and set a $14.00 target price on shares of Harmonic in a research note on Tuesday, April 29th. Jefferies Financial Group started coverage on Harmonic in a report on Friday, February 21st. They issued a "hold" rating for the company. Rosenblatt Securities decreased their price target on shares of Harmonic from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Finally, Northland Securities cut their price target on shares of Harmonic from $14.00 to $12.50 and set an "outperform" rating for the company in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Harmonic currently has an average rating of "Moderate Buy" and a consensus target price of $12.33.

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.