Leeward Investments LLC MA Has $28.69 Million Holdings in Harmonic Inc. (NASDAQ:HLIT)

Leeward Investments LLC MA decreased its holdings in shares of Harmonic Inc. (NASDAQ:HLIT) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,968,928 shares of the communications equipment provider’s stock after selling 7,038 shares during the quarter. Harmonic comprises approximately 1.3% of Leeward Investments LLC MA’s investment portfolio, making the stock its 14th biggest holding. Leeward Investments LLC MA owned about 1.69% of Harmonic worth $28,687,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Clearline Capital LP lifted its holdings in Harmonic by 777.6% in the second quarter. Clearline Capital LP now owns 1,570,461 shares of the communications equipment provider’s stock valued at $18,484,000 after buying an additional 1,391,504 shares during the period. Jane Street Group LLC raised its holdings in Harmonic by 1,276.3% in the first quarter. Jane Street Group LLC now owns 1,203,297 shares of the communications equipment provider’s stock worth $16,172,000 after purchasing an additional 1,115,870 shares during the period. Marshall Wace LLP raised its holdings in Harmonic by 1,952.4% in the second quarter. Marshall Wace LLP now owns 978,127 shares of the communications equipment provider’s stock worth $11,513,000 after purchasing an additional 930,469 shares during the period. Point72 Asset Management L.P. acquired a new stake in Harmonic in the second quarter worth $7,687,000. Finally, Assenagon Asset Management S.A. raised its holdings in Harmonic by 117.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,187,528 shares of the communications equipment provider’s stock worth $17,302,000 after purchasing an additional 642,033 shares during the period. 99.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HLIT. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 target price on shares of Harmonic in a report on Tuesday, October 29th. Barclays cut their target price on shares of Harmonic from $20.00 to $17.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Northland Securities cut their target price on shares of Harmonic from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Jefferies Financial Group lowered shares of Harmonic from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $14.00 to $12.50 in a report on Tuesday, October 29th. Finally, Raymond James lowered shares of Harmonic from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $17.00 to $14.00 in a report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.25.

Harmonic Price Performance

NASDAQ:HLIT opened at $12.02 on Thursday. Harmonic Inc. has a 1-year low of $9.10 and a 1-year high of $15.46. The company has a current ratio of 2.08, a quick ratio of 1.62 and a debt-to-equity ratio of 0.29. The firm has a fifty day simple moving average of $13.66 and a 200 day simple moving average of $12.62. The stock has a market capitalization of $1.40 billion, a PE ratio of 16.47 and a beta of 0.89.

Harmonic (NASDAQ:HLIT) last posted its earnings results on Monday, October 28th. The communications equipment provider reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.09. Harmonic had a return on equity of 7.56% and a net margin of 13.62%. The company had revenue of $195.80 million during the quarter, compared to the consensus estimate of $181.77 million. During the same quarter last year, the firm earned ($0.05) earnings per share. The company’s revenue was up 53.9% on a year-over-year basis. On average, research analysts expect that Harmonic Inc. will post 0.52 EPS for the current fiscal year.

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.