Game Plan Financial Advisors LLC Sells 1,900 Shares of Harmonic Inc. (NASDAQ:HLIT)

Game Plan Financial Advisors LLC cut its holdings in shares of Harmonic Inc. (NASDAQ:HLIT) by 5.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,329 shares of the communications equipment provider’s stock after selling 1,900 shares during the quarter. Game Plan Financial Advisors LLC’s holdings in Harmonic were worth $442,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in HLIT. GAMMA Investing LLC increased 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 worth $36,000 after purchasing an additional 1,323 shares during the period. CWM LLC increased its stake in Harmonic by 274.2% in the third quarter. CWM LLC now owns 8,439 shares of the communications equipment provider’s stock valued at $123,000 after acquiring an additional 6,184 shares during the last quarter. Stanley Laman Group Ltd. increased its stake in Harmonic by 5.5% in the third quarter. Stanley Laman Group Ltd. now owns 319,611 shares of the communications equipment provider’s stock valued at $4,657,000 after acquiring an additional 16,558 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Harmonic by 117.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,187,528 shares of the communications equipment provider’s stock valued at $17,302,000 after acquiring an additional 642,033 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Harmonic by 18.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 35,365 shares of the communications equipment provider’s stock valued at $515,000 after acquiring an additional 5,414 shares during the last quarter. 99.38% of the stock is owned by institutional investors.

Insider Transactions at Harmonic

In other news, CFO Walter Jankovic bought 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were acquired at an average price of $9.44 per share, for a total transaction of $113,280.00. Following the completion of the acquisition, the chief financial officer now directly owns 46,129 shares in the company, valued at approximately $435,457.76. This represents a 35.16 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Nimrod Ben-Natan bought 7,780 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average price of $9.65 per share, for a total transaction of $75,077.00. Following the acquisition, the chief executive officer now owns 347,797 shares of the company’s stock, valued at $3,356,241.05. This trade represents a 2.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 29,780 shares of company stock worth $286,157. Company insiders own 2.36% of the company’s stock.

Harmonic Price Performance

Shares of NASDAQ:HLIT opened at $10.06 on Friday. The firm has a market cap of $1.17 billion, a PE ratio of 13.78 and a beta of 0.89. The firm’s fifty day moving average is $12.35 and its 200-day moving average is $13.05. 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 $8.42 and a 52 week high of $15.46.

Harmonic (NASDAQ:HLIT) last issued its quarterly earnings results on Monday, February 10th. The communications equipment provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. Harmonic had a net margin of 13.62% and a return on equity of 7.56%. Sell-side analysts predict that Harmonic Inc. will post 0.52 earnings per share for the current year.

Harmonic declared that its board has initiated a stock repurchase plan on Monday, February 10th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the communications equipment provider to buy up to 15.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Northland Securities decreased their price objective on shares of Harmonic from $14.00 to $12.50 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. Raymond James lowered shares of Harmonic from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from $17.00 to $14.00 in a research report on Tuesday, October 29th. Needham & Company LLC cut their target price on shares of Harmonic from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Jefferies Financial Group lowered shares of Harmonic from a “buy” rating to a “hold” rating and cut their target price for the company from $14.00 to $12.50 in a research report on Tuesday, October 29th. Finally, Rosenblatt Securities cut their target price on shares of Harmonic from $16.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.50.

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.