Trigran Investments Inc., a prominent institutional investor, has reduced its holdings in Harmonic Inc. (NASDAQ:HLIT) by 11.1% during the fourth quarter, according to a recent filing with the Securities and Exchange Commission. The firm sold 1,074,400 shares of Harmonic, making it the third-largest position in Trigran's portfolio. Other hedge funds have also made changes to their stakes in the company. Harmonic Inc. is a global provider of broadband solutions and operates through its Broadband and Video segments. The company reported a net margin of 12.37% and a return on equity of 1.35% in the last quarter. Analysts expect Harmonic to post an EPS of 0.36 for the current fiscal year. SVP Ian Graham recently sold 52,730 shares of Harmonic stock at an average price of $10.95, totaling $577,393.50. Insiders own 2.20% of the company's stock. Harmonic has received positive analyst ratings, with a consensus target price of $17.20 [84e48643].
Trigran Investments Inc.'s reduction in holdings of Harmonic Inc. reflects a change in their investment strategy. The company's positive financial performance and analyst ratings indicate potential growth in the broadband solutions industry [84e48643].