Silverberg Bernstein Capital Management LLC Has $10.36 Million Position in Harmonic Inc. (NASDAQ:HLIT)

Silverberg Bernstein Capital Management LLC cut its holdings in Harmonic Inc. (NASDAQ:HLIT) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 783,127 shares of the communications equipment provider’s stock after selling 10,900 shares during the quarter. Harmonic accounts for approximately 9.1% of Silverberg Bernstein Capital Management LLC’s holdings, making the stock its 2nd largest position. Silverberg Bernstein Capital Management LLC owned approximately 0.67% of Harmonic worth $10,361,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in HLIT. GAMMA Investing LLC lifted its holdings in shares of Harmonic by 117.6% during the third 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 in the last quarter. CWM LLC grew its stake in shares of Harmonic by 274.2% in the third quarter. CWM LLC now owns 8,439 shares of the communications equipment provider’s stock worth $123,000 after acquiring an additional 6,184 shares during the period. iSAM Funds UK Ltd purchased a new position in shares of Harmonic during the third quarter valued at approximately $166,000. Captrust Financial Advisors lifted its position in Harmonic by 14.9% during 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 period. Finally, Versor Investments LP purchased a new stake in Harmonic in the third quarter worth approximately $227,000. 99.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HLIT has been the topic of several research analyst reports. Rosenblatt Securities lowered their price target on Harmonic from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Jefferies Financial Group downgraded shares of Harmonic from a “buy” rating to a “hold” rating and cut their price objective for the company from $14.00 to $12.50 in a research report on Tuesday, October 29th. Barclays cut Harmonic from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $17.00 to $14.00 in a report on Thursday, January 9th. Raymond James lowered 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. Finally, Northland Securities decreased their price objective on Harmonic from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. Three equities research 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 an average rating of “Moderate Buy” and an average price target of $14.75.

Harmonic Price Performance

NASDAQ:HLIT opened at $12.74 on Wednesday. The stock has a market cap of $1.48 billion, a PE ratio of 17.45 and a beta of 0.91. 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 business’s 50-day simple moving average is $12.85 and its two-hundred day simple moving average is $13.19. Harmonic Inc. has a 52 week low of $9.10 and a 52 week high of $15.46.

Harmonic (NASDAQ:HLIT) last released its quarterly earnings data on Monday, October 28th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.09. Harmonic had a net margin of 13.62% and a return on equity of 7.56%. The firm had revenue of $195.80 million for the quarter, compared to analysts’ expectations of $181.77 million. During the same quarter last year, the business posted ($0.05) earnings per share. The company’s revenue for the quarter was up 53.9% compared to the same quarter last year. As a group, analysts forecast 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.