Bouvel Investment Partners LLC Lowers Holdings in Harmonic Inc. (NASDAQ:HLIT)

Bouvel Investment Partners LLC reduced its stake in shares of Harmonic Inc. (NASDAQ:HLIT) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,445 shares of the communications equipment provider’s stock after selling 2,079 shares during the quarter. Bouvel Investment Partners LLC owned about 0.10% of Harmonic worth $1,567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. GAMMA Investing LLC grew its position 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 increased its stake in Harmonic by 274.2% in the 3rd 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 last quarter. iSAM Funds UK Ltd purchased a new stake in shares of Harmonic during the 3rd quarter worth approximately $166,000. Captrust Financial Advisors boosted its position in shares of Harmonic by 14.9% during the 3rd quarter. Captrust Financial Advisors now owns 12,671 shares of the communications equipment provider’s stock valued at $185,000 after acquiring an additional 1,647 shares during the last quarter. Finally, Versor Investments LP bought a new position in shares of Harmonic during the 3rd quarter valued at approximately $227,000. 99.38% of the stock is currently owned by institutional investors.

Harmonic Price Performance

Shares of HLIT stock opened at $12.42 on Friday. The stock has a 50 day moving average price of $12.87 and a 200 day moving average price of $13.18. The firm has a market capitalization of $1.45 billion, a P/E ratio of 17.01 and a beta of 0.91. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.62 and a current ratio of 2.08. Harmonic Inc. has a 52-week low of $9.10 and a 52-week high of $15.46.

Harmonic (NASDAQ:HLIT) last released its earnings results on Monday, October 28th. The communications equipment provider reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.09. The business had revenue of $195.80 million during the quarter, compared to the consensus estimate of $181.77 million. Harmonic had a return on equity of 7.56% and a net margin of 13.62%. The business’s revenue for the quarter was up 53.9% compared to the same quarter last year. During the same period last year, the company earned ($0.05) earnings per share. As a group, sell-side analysts predict that Harmonic Inc. will post 0.52 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Barclays cut shares of Harmonic from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $17.00 to $14.00 in a research report on Thursday, January 9th. Needham & Company LLC restated a “buy” rating and set a $18.00 target price on shares of Harmonic in a research report on Tuesday, October 29th. Jefferies Financial Group lowered Harmonic from a “buy” rating to a “hold” rating and dropped their price target for the stock from $14.00 to $12.50 in a research report on Tuesday, October 29th. Rosenblatt Securities decreased their price objective on Harmonic from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Finally, Raymond James cut Harmonic from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock 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 issued a buy rating to the company’s stock. According to MarketBeat, Harmonic has an average rating of “Moderate Buy” and a consensus price target of $14.75.

Harmonic 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.