Advisory Research Inc. Takes Position in Harmonic Inc. (NASDAQ:HLIT)

Posted by on Mar 15th, 2023

Advisory Research Inc. acquired a new stake in shares of Harmonic Inc. (NASDAQ:HLIT – Get Rating) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 86,851 shares of the communications equipment provider’s stock, valued at approximately $1,135,000. Advisory Research Inc. owned about 0.08% of Harmonic at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Alpha Paradigm Partners LLC grew its stake in shares of Harmonic by 25.8% during the third quarter. Alpha Paradigm Partners LLC now owns 108,723 shares of the communications equipment provider’s stock valued at $1,421,000 after buying an additional 22,309 shares during the last quarter. Balyasny Asset Management LLC bought a new stake in shares of Harmonic in the third quarter worth about $1,422,000. Jane Street Group LLC bought a new stake in shares of Harmonic in the third quarter worth about $8,139,000. Alliancebernstein L.P. grew its stake in shares of Harmonic by 3.0% in the third quarter. Alliancebernstein L.P. now owns 99,533 shares of the communications equipment provider’s stock worth $1,301,000 after purchasing an additional 2,862 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Harmonic by 2.1% in the third quarter. State Street Corp now owns 3,282,322 shares of the communications equipment provider’s stock worth $42,900,000 after purchasing an additional 68,405 shares during the last quarter. 97.72% of the stock is owned by institutional investors.

Harmonic Stock Performance

Shares of HLIT opened at $12.29 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.07 and a quick ratio of 0.70. Harmonic Inc. has a one year low of $8.25 and a one year high of $15.80. The company has a 50-day simple moving average of $13.86 and a two-hundred day simple moving average of $13.46. The firm has a market capitalization of $1.37 billion, a PE ratio of 47.27 and a beta of 0.88.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on HLIT shares. Jefferies Financial Group raised Harmonic from a “hold” rating to a “buy” rating and raised their target price for the stock from $14.25 to $19.00 in a research note on Monday, January 9th. Raymond James cut their target price on Harmonic from $18.00 to $17.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 31st. StockNews.com raised Harmonic from a “hold” rating to a “buy” rating in a research note on Friday, March 10th. Rosenblatt Securities reissued a “buy” rating and issued a $20.00 target price on shares of Harmonic in a research note on Tuesday, January 31st. Finally, Barclays raised their price objective on shares of Harmonic from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Tuesday, January 31st. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $19.00.

About Harmonic

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Harmonic, Inc engages in the development and sale of video delivery software, products, system solutions, and services. It operates through the Video and Cable Access segments. The Video segment sells video processing and production and playout services to cable operators, satellite and telecommunications pay-TV service providers, and broadcast and media companies.

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Institutional Ownership by Quarter for Harmonic (NASDAQ:HLIT)

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