Harmonic Inc. (NASDAQ:HLIT) Shares Sold by Silverberg Bernstein Capital Management LLC

Silverberg Bernstein Capital Management LLC decreased its stake in shares of Harmonic Inc. (NASDAQ:HLIT) by 1.4% during the fourth quarter, HoldingsChannel reports. The firm owned 783,127 shares of the communications equipment provider’s stock after selling 10,900 shares during the quarter. Harmonic makes up about 9.1% of Silverberg Bernstein Capital Management LLC’s investment portfolio, making the stock its 2nd largest position. Silverberg Bernstein Capital Management LLC’s holdings in Harmonic were worth $10,361,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its stake in Harmonic by 117.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,448 shares of the communications equipment provider’s stock valued at $36,000 after acquiring an additional 1,323 shares during the period. Dark Forest Capital Management LP raised its holdings in shares of Harmonic by 7.2% during the second quarter. Dark Forest Capital Management LP now owns 20,192 shares of the communications equipment provider’s stock worth $238,000 after purchasing an additional 1,362 shares during the last quarter. Rhumbline Advisers lifted its position in Harmonic by 0.4% during the second quarter. Rhumbline Advisers now owns 320,516 shares of the communications equipment provider’s stock valued at $3,772,000 after purchasing an additional 1,382 shares during the period. Captrust Financial Advisors boosted its holdings in Harmonic by 14.9% in the third quarter. Captrust Financial Advisors now owns 12,671 shares of the communications equipment provider’s stock valued at $185,000 after purchasing an additional 1,647 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Harmonic by 6.0% during the 3rd quarter. Franklin Resources Inc. now owns 39,041 shares of the communications equipment provider’s stock worth $538,000 after purchasing an additional 2,207 shares during the period. Hedge funds and other institutional investors own 99.38% of the company’s stock.

Harmonic Stock Up 3.1 %

Shares of HLIT opened at $12.74 on Wednesday. Harmonic Inc. has a 52-week low of $9.10 and a 52-week high of $15.46. 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 stock has a fifty day simple moving average of $12.85 and a two-hundred day simple moving average of $13.19. The company has a market capitalization of $1.48 billion, a PE ratio of 17.45 and a beta of 0.91.

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, beating the consensus estimate of $0.17 by $0.09. The company had revenue of $195.80 million for the quarter, compared to analyst estimates of $181.77 million. Harmonic had a net margin of 13.62% and a return on equity of 7.56%. Harmonic’s revenue was up 53.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.05) EPS. As a group, equities analysts forecast that Harmonic Inc. will post 0.52 EPS for the current year.

Wall Street Analysts Forecast Growth

HLIT has been the topic of a number of recent research reports. Northland Securities lowered their target price on Harmonic from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. Rosenblatt Securities dropped their price objective on shares of Harmonic from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Jefferies Financial Group cut shares of Harmonic from a “buy” rating to a “hold” rating and decreased their target price for the company from $14.00 to $12.50 in a research note on Tuesday, October 29th. Barclays lowered shares of Harmonic from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $17.00 to $14.00 in a research report on Thursday, January 9th. Finally, Raymond James lowered shares of Harmonic from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $17.00 to $14.00 in a research note on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.75.

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.