Tudor Investment Corp ET AL Raises Stock Holdings in Harmonic Inc. (NASDAQ:HLIT)

Tudor Investment Corp ET AL raised its stake in shares of Harmonic Inc. (NASDAQ:HLIT - Free Report) by 198.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 797,176 shares of the communications equipment provider's stock after purchasing an additional 529,833 shares during the period. Tudor Investment Corp ET AL owned 0.68% of Harmonic worth $10,547,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Barclays PLC increased its stake in shares of Harmonic by 414.6% in the third quarter. Barclays PLC now owns 201,976 shares of the communications equipment provider's stock valued at $2,944,000 after buying an additional 162,727 shares during the period. Franklin Resources Inc. boosted its holdings in Harmonic by 6.0% in the third quarter. Franklin Resources Inc. now owns 39,041 shares of the communications equipment provider's stock valued at $538,000 after acquiring an additional 2,207 shares during the last quarter. JPMorgan Chase & Co. increased its position in Harmonic by 18.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 246,944 shares of the communications equipment provider's stock valued at $3,598,000 after purchasing an additional 38,137 shares during the period. Inspire Investing LLC raised its holdings in Harmonic by 6.9% during the 4th quarter. Inspire Investing LLC now owns 30,154 shares of the communications equipment provider's stock worth $399,000 after purchasing an additional 1,944 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of Harmonic by 84.8% in the 4th quarter. KBC Group NV now owns 6,295 shares of the communications equipment provider's stock worth $83,000 after purchasing an additional 2,888 shares during the period. 99.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Harmonic Stock Down 0.2 %

NASDAQ:HLIT traded down $0.02 on Friday, hitting $9.00. The stock had a trading volume of 1,710,849 shares, compared to its average volume of 1,174,991. The company has a quick ratio of 1.80, a current ratio of 2.18 and a debt-to-equity ratio of 0.26. Harmonic Inc. has a 52 week low of $7.91 and a 52 week high of $15.46. The business's fifty day moving average is $9.55 and its 200 day moving average is $11.35. The company has a market cap of $1.05 billion, a PE ratio of 27.27 and a beta of 0.92.

Harmonic (NASDAQ:HLIT - Get Free Report) last issued 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. Harmonic had a return on equity of 15.90% and a net margin of 5.78%. The company had revenue of $133.14 million for the quarter, compared to analysts' expectations of $127.51 million. The firm's quarterly revenue was up 9.1% on a year-over-year basis. On average, equities research analysts expect that Harmonic Inc. will post 0.31 EPS for the current fiscal year.

Harmonic announced that its board has initiated a stock buyback program on Monday, February 10th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the communications equipment provider to buy up to 15.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Transactions at Harmonic

In related news, Director David Krall bought 10,000 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were bought at an average price of $9.78 per share, for a total transaction of $97,800.00. Following the completion of the acquisition, the director now directly owns 163,490 shares of the company's stock, valued at $1,598,932.20. This trade represents a 6.52 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel T. Whalen purchased 3,000 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were bought at an average price of $10.15 per share, with a total value of $30,450.00. Following the acquisition, the director now directly owns 8,840 shares of the company's stock, valued at $89,726. This represents a 51.37 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 32,780 shares of company stock valued at $316,607 over the last three months. Corporate insiders own 2.36% of the company's stock.

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.