Yorktown Management & Research Co Inc Takes Position in Harmonic Inc. (NASDAQ:HLIT)

Yorktown Management & Research Co Inc bought a new stake in Harmonic Inc. (NASDAQ:HLIT) in the 4th quarter, HoldingsChannel.com reports. The firm bought 26,000 shares of the communications equipment provider’s stock, valued at approximately $344,000.

Several other large investors have also modified their holdings of the stock. GAMMA Investing LLC raised its position in Harmonic by 117.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,448 shares of the communications equipment provider’s stock valued at $36,000 after purchasing an additional 1,323 shares during the last quarter. KBC Group NV raised its position 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 purchasing an additional 2,888 shares during the last quarter. CWM LLC raised its position in Harmonic by 274.2% in the 3rd quarter. CWM LLC now owns 8,439 shares of the communications equipment provider’s stock valued at $123,000 after purchasing an additional 6,184 shares during the last quarter. iSAM Funds UK Ltd purchased a new stake in Harmonic in the 3rd quarter valued at $166,000. Finally, Captrust Financial Advisors raised its position in Harmonic by 14.9% during the 3rd quarter. Captrust Financial Advisors now owns 12,671 shares of the communications equipment provider’s stock worth $185,000 after buying an additional 1,647 shares during the last quarter. Institutional investors and hedge funds own 99.38% of the company’s stock.

Harmonic Stock Performance

Shares of HLIT opened at $11.19 on Wednesday. The company has a 50-day simple moving average of $12.73 and a 200-day simple moving average of $13.16. The company has a quick ratio of 1.62, a current ratio of 2.08 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $1.30 billion, a PE ratio of 15.33 and a beta of 0.89. Harmonic Inc. has a 52-week low of $9.10 and a 52-week high of $15.46.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Rosenblatt Securities restated a “buy” rating and set a $16.00 price objective on shares of Harmonic in a research report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $18.00 price objective on shares of Harmonic in a research report on Tuesday, October 29th. Northland Securities cut their price objective on shares of Harmonic from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th. Barclays downgraded shares of Harmonic from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $17.00 to $14.00 in a research report on Thursday, January 9th. Finally, Raymond James downgraded shares of Harmonic from a “strong-buy” rating to an “outperform” rating and cut their price target for the company from $17.00 to $14.00 in a report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Harmonic currently has a consensus rating of “Moderate Buy” and an average target price of $14.75.

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.