Harmonic Inc. (NASDAQ:HLIT) Stock Position Reduced by Game Plan Financial Advisors LLC

Game Plan Financial Advisors LLC decreased its position in Harmonic Inc. (NASDAQ:HLIT) by 35.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,829 shares of the communications equipment provider’s stock after selling 19,700 shares during the quarter. Game Plan Financial Advisors LLC’s holdings in Harmonic were worth $422,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. CWM LLC raised its stake in Harmonic by 780.9% during the second quarter. CWM LLC now owns 2,255 shares of the communications equipment provider’s stock worth $27,000 after acquiring an additional 1,999 shares during the period. Quadrant Capital Group LLC grew its holdings in shares of Harmonic by 237.8% during the fourth quarter. Quadrant Capital Group LLC now owns 2,591 shares of the communications equipment provider’s stock valued at $34,000 after purchasing an additional 1,824 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Harmonic during the 2nd quarter worth approximately $47,000. SageView Advisory Group LLC bought a new stake in shares of Harmonic in the 1st quarter worth approximately $114,000. Finally, Verdence Capital Advisors LLC acquired a new position in Harmonic during the 2nd quarter valued at approximately $140,000. 99.38% of the stock is currently owned by institutional investors.

Insider Transactions at Harmonic

In other news, SVP Neven Haltmayer sold 40,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $14.41, for a total transaction of $576,400.00. Following the sale, the senior vice president now directly owns 122,211 shares of the company’s stock, valued at $1,761,060.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.20% of the company’s stock.

Harmonic Stock Performance

Shares of HLIT traded down $0.21 during trading hours on Friday, reaching $14.45. 1,056,715 shares of the company’s stock traded hands, compared to its average volume of 872,661. Harmonic Inc. has a twelve month low of $8.80 and a twelve month high of $15.31. The business’s fifty day simple moving average is $12.93 and its two-hundred day simple moving average is $12.29. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.87 and a quick ratio of 1.32. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 24.08 and a beta of 0.89.

Harmonic (NASDAQ:HLIT) last released its earnings results on Monday, July 29th. The communications equipment provider reported $0.08 EPS for the quarter, beating the consensus estimate of $0.04 by $0.04. The firm had revenue of $138.70 million for the quarter, compared to analysts’ expectations of $133.67 million. Harmonic had a net margin of 10.22% and a return on equity of 0.27%. Harmonic’s quarterly revenue was down 11.1% on a year-over-year basis. During the same quarter last year, the company earned $0.07 EPS. Analysts predict that Harmonic Inc. will post 0.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on HLIT shares. Rosenblatt Securities reiterated a “buy” rating and issued a $18.00 target price on shares of Harmonic in a research note on Thursday, July 18th. Barclays increased their price objective on shares of Harmonic from $14.00 to $20.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, Needham & Company LLC reissued a “buy” rating and set a $18.00 target price on shares of Harmonic in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Harmonic currently has a consensus rating of “Buy” and an average target price of $18.50.

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.