Harmonic Inc. (HLIT) Reaches $3.68 After 8.00% Down Move; Indexiq Advisors Decreased By $903,714 Its Flowserve (FLS) Position

April 17, 2018 - By Marguerite Chambers

Harmonic Inc. (NASDAQ:HLIT) Logo

Indexiq Advisors Llc decreased Flowserve Corp (FLS) stake by 28.65% reported in 2017Q4 SEC filing. Indexiq Advisors Llc sold 21,517 shares as Flowserve Corp (FLS)’s stock rose 1.86%. The Indexiq Advisors Llc holds 53,581 shares with $2.26M value, down from 75,098 last quarter. Flowserve Corp now has $6.07 billion valuation. The stock increased 1.01% or $0.47 during the last trading session, reaching $46.42. About 585,200 shares traded. Flowserve Corporation (NYSE:FLS) has declined 10.24% since April 17, 2017 and is downtrending. It has underperformed by 21.79% the S&P500.

The stock of Harmonic Inc. (NASDAQ:HLIT) is a huge mover today! The stock increased 0.69% or $0.025 during the last trading session, reaching $3.675. About 266,223 shares traded. Harmonic Inc. (NASDAQ:HLIT) has declined 33.62% since April 17, 2017 and is downtrending. It has underperformed by 45.17% the S&P500.The move comes after 6 months negative chart setup for the $309.06 million company. It was reported on Apr, 17 by Barchart.com. We have $3.38 PT which if reached, will make NASDAQ:HLIT worth $24.72 million less.

Investors sentiment increased to 0.98 in 2017 Q4. Its up 0.14, from 0.84 in 2017Q3. It is positive, as 41 investors sold FLS shares while 104 reduced holdings. 41 funds opened positions while 101 raised stakes. 132.57 million shares or 0.27% more from 132.21 million shares in 2017Q3 were reported. Washington Bankshares invested 0.01% in Flowserve Corporation (NYSE:FLS). Zeke Limited Liability Corp reported 0.03% stake. 8,714 were accumulated by Asset Mngmt. Monarch has invested 1.21% in Flowserve Corporation (NYSE:FLS). Glenmede Company Na, Pennsylvania-based fund reported 63 shares. Td Asset Management Inc stated it has 0% in Flowserve Corporation (NYSE:FLS). Mitsubishi Ufj Tru owns 262,571 shares or 0.02% of their US portfolio. 42,230 are owned by Stephens Ar. Hsbc Holding Public Limited Liability Company stated it has 240,202 shares. Employees Retirement System Of Ohio invested in 301,110 shares. Bb&T accumulated 125,426 shares. Retirement System Of Alabama has 0.01% invested in Flowserve Corporation (NYSE:FLS) for 63,307 shares. Golub Grp Ltd Liability stated it has 1.41M shares. Davidson Inv Advsr stated it has 354,883 shares or 1.55% of all its holdings. Legal & General Gru Public, United Kingdom-based fund reported 650,312 shares.

Analysts await Flowserve Corporation (NYSE:FLS) to report earnings on May, 7. They expect $0.27 earnings per share, up 8.00% or $0.02 from last year’s $0.25 per share. FLS’s profit will be $35.32 million for 42.98 P/E if the $0.27 EPS becomes a reality. After $0.50 actual earnings per share reported by Flowserve Corporation for the previous quarter, Wall Street now forecasts -46.00% negative EPS growth.

Among 24 analysts covering Flowserve Corporation (NYSE:FLS), 6 have Buy rating, 2 Sell and 16 Hold. Therefore 25% are positive. Flowserve Corporation had 83 analyst reports since July 28, 2015 according to SRatingsIntel. The firm has “Market Perform” rating given on Tuesday, April 5 by BMO Capital Markets. The stock has “Sell” rating by RBC Capital Markets on Sunday, July 30. The firm has “Hold” rating given on Tuesday, January 16 by Stifel Nicolaus. The rating was maintained by Jefferies on Tuesday, May 30 with “Buy”. Jefferies maintained Flowserve Corporation (NYSE:FLS) rating on Monday, September 18. Jefferies has “Buy” rating and $50.0 target. The firm has “Buy” rating by Jefferies given on Monday, August 14. The stock of Flowserve Corporation (NYSE:FLS) has “Hold” rating given on Thursday, July 27 by Oppenheimer. The stock has “Hold” rating by RBC Capital Markets on Monday, February 19. The firm has “Peer Perform” rating by Wolfe Research given on Monday, July 31. The stock of Flowserve Corporation (NYSE:FLS) has “Buy” rating given on Tuesday, June 27 by BMO Capital Markets.

Indexiq Advisors Llc increased Bmc Stk Hldgs Inc stake by 23,987 shares to 62,340 valued at $1.58M in 2017Q4. It also upped Vanguard Intl Equity Index F (VPL) stake by 32,317 shares and now owns 67,126 shares. Dbx Etf Tr (DBEF) was raised too.

Analysts await Harmonic Inc. (NASDAQ:HLIT) to report earnings on May, 7. They expect $-0.10 earnings per share, up 44.44% or $0.08 from last year’s $-0.18 per share. After $-0.07 actual earnings per share reported by Harmonic Inc. for the previous quarter, Wall Street now forecasts 42.86% negative EPS growth.

Among 4 analysts covering Harmonic Inc (NASDAQ:HLIT), 2 have Buy rating, 0 Sell and 2 Hold. Therefore 50% are positive. Harmonic Inc has $7 highest and $3.5 lowest target. $5.50’s average target is 49.66% above currents $3.675 stock price. Harmonic Inc had 11 analyst reports since July 24, 2015 according to SRatingsIntel. Dougherty & Company initiated the shares of HLIT in report on Tuesday, December 6 with “Buy” rating. The company was maintained on Tuesday, June 6 by Jefferies. The stock of Harmonic Inc. (NASDAQ:HLIT) has “Buy” rating given on Friday, July 14 by Northland Capital. The firm has “Buy” rating given on Wednesday, August 10 by Drexel Hamilton. The stock of Harmonic Inc. (NASDAQ:HLIT) earned “Hold” rating by Drexel Hamilton on Friday, July 24. The firm has “Outperform” rating given on Wednesday, January 13 by Northland Capital. Jefferies maintained it with “Hold” rating and $3.5 target in Tuesday, October 10 report. Northland Capital maintained the shares of HLIT in report on Monday, October 16 with “Buy” rating. Drexel Hamilton downgraded the shares of HLIT in report on Tuesday, March 14 to “Hold” rating. Jefferies maintained Harmonic Inc. (NASDAQ:HLIT) rating on Thursday, September 7. Jefferies has “Hold” rating and $3.5 target.

Harmonic Inc. designs, manufactures, and sells video infrastructure products and system solutions worldwide. The company has market cap of $309.06 million. The Company’s products enable clients to create, prepare, and deliver a range of video and broadband services to consumer devices, including televisions, personal computers, laptops, tablets, and smart phones. It currently has negative earnings. The firm operates in two divisions, Video and Cable Edge.

Since February 15, 2018, it had 0 insider buys, and 6 selling transactions for $341,001 activity. $35,762 worth of Harmonic Inc. (NASDAQ:HLIT) shares were sold by Haltmayer Neven. Shares for $36,904 were sold by Kalra Sanjay on Thursday, March 8. $125,598 worth of Harmonic Inc. (NASDAQ:HLIT) was sold by HARSHMAN PATRICK.

Harmonic Inc. (NASDAQ:HLIT) Institutional Positions Chart

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