Westfield Capital Management Co. LP Purchases Shares of 1,476,793 Harmonic Inc. (NASDAQ:HLIT)

Westfield Capital Management Co. LP purchased a new stake in Harmonic Inc. (NASDAQ:HLIT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,476,793 shares of the communications equipment provider’s stock, valued at approximately $19,257,000. Westfield Capital Management Co. LP owned 1.32% of Harmonic at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Johnson Financial Group Inc. bought a new position in Harmonic in the 4th quarter valued at $338,000. Quadrant Capital Group LLC lifted its holdings in shares of Harmonic by 237.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,591 shares of the communications equipment provider’s stock worth $34,000 after acquiring an additional 1,824 shares during the last quarter. Thornburg Investment Management Inc. lifted its holdings in shares of Harmonic by 21.6% during the 4th quarter. Thornburg Investment Management Inc. now owns 921,312 shares of the communications equipment provider’s stock worth $12,008,000 after acquiring an additional 163,882 shares during the last quarter. Boston Partners lifted its holdings in shares of Harmonic by 5.8% during the 4th quarter. Boston Partners now owns 65,934 shares of the communications equipment provider’s stock worth $860,000 after acquiring an additional 3,622 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Harmonic by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,389,426 shares of the communications equipment provider’s stock worth $44,198,000 after acquiring an additional 82,822 shares during the last quarter. 99.38% of the stock is owned by institutional investors.

Insider Buying and Selling at Harmonic

In other Harmonic news, SVP Ian Graham sold 52,730 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $10.95, for a total value of $577,393.50. Following the transaction, 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 is available through this hyperlink. Corporate insiders own 2.20% of the company’s stock.

Harmonic Trading Up 3.7 %

NASDAQ:HLIT traded up $0.42 during trading hours on Friday, reaching $11.91. The company’s stock had a trading volume of 734,788 shares, compared to its average volume of 1,997,749. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 19.85 and a beta of 0.90. The firm has a 50-day simple moving average of $11.49 and a 200-day simple moving average of $11.87. Harmonic Inc. has a 1 year low of $8.80 and a 1 year high of $18.43. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.78 and a current ratio of 1.09.

Harmonic (NASDAQ:HLIT) last released its quarterly earnings data on Monday, April 29th. The communications equipment provider reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). Harmonic had a net margin of 12.37% and a return on equity of 1.35%. The firm had revenue of $122.06 million during the quarter, compared to analysts’ expectations of $121.70 million. During the same quarter in the previous year, the firm posted $0.06 EPS. Harmonic’s revenue was down 22.6% compared to the same quarter last year. Research analysts expect that Harmonic Inc. will post 0.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HLIT has been the subject of a number of research analyst reports. Rosenblatt Securities dropped their price objective on shares of Harmonic from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, January 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Harmonic in a report on Friday, May 17th. TheStreet raised shares of Harmonic from a “c” rating to a “b” rating in a report on Monday, January 29th. Raymond James dropped their price objective on shares of Harmonic from $19.00 to $18.00 and set a “strong-buy” rating for the company in a report on Tuesday, January 30th. Finally, StockNews.com upgraded shares of Harmonic from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Harmonic has a consensus rating of “Buy” and an average price target of $17.20.

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.