Harmonic Inc. (NASDAQ:HLIT) Position Trimmed by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. trimmed its holdings in shares of Harmonic Inc. (NASDAQ:HLIT) by 23.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,323 shares of the communications equipment provider’s stock after selling 7,329 shares during the period. Harmonic comprises approximately 1.6% of Mesirow Financial Investment Management Inc.’s investment portfolio, making the stock its 20th biggest position. Mesirow Financial Investment Management Inc.’s holdings in Harmonic were worth $327,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Silverberg Bernstein Capital Management LLC acquired a new stake in Harmonic during the fourth quarter valued at $10,481,000. Thornburg Investment Management Inc. lifted its stake in Harmonic by 21.6% in the fourth quarter. Thornburg Investment Management Inc. now owns 921,312 shares of the communications equipment provider’s stock valued at $12,008,000 after acquiring an additional 163,882 shares during the last quarter. Ghisallo Capital Management LLC bought a new stake in Harmonic in the fourth quarter worth approximately $2,848,000. Westfield Capital Management Co. LP acquired a new position in shares of Harmonic during the 4th quarter worth $19,257,000. Finally, Wasatch Advisors LP raised its holdings in shares of Harmonic by 75.1% during the 4th quarter. Wasatch Advisors LP now owns 1,298,272 shares of the communications equipment provider’s stock valued at $16,929,000 after purchasing an additional 556,875 shares in the last quarter. 99.38% of the stock is currently owned by institutional investors.

Insider Transactions at Harmonic

In other Harmonic news, SVP Ian Graham sold 52,730 shares of Harmonic stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $10.95, for a total transaction of $577,393.50. Following the sale, the senior vice president now owns 63,616 shares in the company, valued at $696,595.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.20% of the stock is currently owned by corporate insiders.

Harmonic Stock Performance

HLIT stock traded up $0.04 during midday trading on Wednesday, hitting $11.95. 686,281 shares of the company traded hands, compared to its average volume of 1,742,044. Harmonic Inc. has a twelve month low of $8.80 and a twelve month high of $16.39. The company has a quick ratio of 0.78, a current ratio of 1.09 and a debt-to-equity ratio of 0.03. The business has a 50 day simple moving average of $11.33 and a 200-day simple moving average of $12.05. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 19.85 and a beta of 0.89.

Harmonic (NASDAQ:HLIT) last announced its quarterly earnings data on Monday, April 29th. The communications equipment provider reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The company had revenue of $122.06 million during the quarter, compared to analyst estimates of $121.70 million. Harmonic had a return on equity of 1.35% and a net margin of 12.37%. The company’s revenue was down 22.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.06 EPS. As a group, equities research analysts predict that Harmonic Inc. will post 0.36 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of Harmonic in a report on Monday, June 17th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Harmonic has a consensus rating of “Buy” and an average price target of $17.20.

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.