156,079 Shares in Harmonic Inc. $HLIT Acquired by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. bought 156,079 shares of Harmonic Inc., representing a new position worth approximately $1.5 million.
• Harmonic reported earnings of $0.09 per share for the most recent quarter, exceeding analysts' expectations.
• Institutional investors collectively own 99.38% of Harmonic's stock, indicating strong interest among major financial players.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Harmonic Inc. (NASDAQ:HLIT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 156,079 shares of the communications equipment provider's stock, valued at approximately $1,497,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.14% of Harmonic at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in HLIT. Vanguard Group Inc. grew its holdings in Harmonic by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 11,474,771 shares of the communications equipment provider's stock valued at $110,043,000 after buying an additional 411,443 shares in the last quarter. Millennium Management LLC grew its holdings in Harmonic by 9,004.4% in the 4th quarter. Millennium Management LLC now owns 4,719,837 shares of the communications equipment provider's stock valued at $62,443,000 after buying an additional 4,667,996 shares in the last quarter. Northern Trust Corp grew its holdings in Harmonic by 13.3% in the 4th quarter. Northern Trust Corp now owns 1,252,837 shares of the communications equipment provider's stock valued at $16,575,000 after buying an additional 147,274 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Harmonic by 6.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,128,795 shares of the communications equipment provider's stock valued at $10,825,000 after buying an additional 71,225 shares in the last quarter. Finally, Systematic Financial Management LP lifted its stake in shares of Harmonic by 0.8% in the 4th quarter. Systematic Financial Management LP now owns 1,116,611 shares of the communications equipment provider's stock valued at $14,773,000 after purchasing an additional 8,943 shares during the last quarter. 99.38% of the stock is currently owned by hedge funds and other institutional investors.

Harmonic Stock Down 2.4%

HLIT stock traded down $0.2150 during mid-day trading on Wednesday, reaching $8.7850. The company had a trading volume of 275,759 shares, compared to its average volume of 1,163,649. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.58 and a current ratio of 1.99. The company has a market capitalization of $999.38 million, a price-to-earnings ratio of 14.91 and a beta of 1.00. The firm has a fifty day simple moving average of $9.11 and a 200 day simple moving average of $9.46. Harmonic Inc. has a fifty-two week low of $7.80 and a fifty-two week high of $15.46.

Harmonic (NASDAQ:HLIT - Get Free Report) last issued its earnings results on Monday, July 28th. The communications equipment provider reported $0.09 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.06. The firm had revenue of $138.03 million during the quarter, compared to the consensus estimate of $134.90 million. Harmonic had a net margin of 9.96% and a return on equity of 17.83%. The company's revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.08 earnings per share. Harmonic has set its Q3 2025 guidance at 0.020-0.070 EPS. Analysts forecast that Harmonic Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wall Street Zen lowered Harmonic from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Needham & Company LLC decreased their price target on Harmonic from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Tuesday, July 29th. Wolfe Research assumed coverage on Harmonic in a research note on Tuesday, July 8th. They issued an "underperform" rating on the stock. Rosenblatt Securities reaffirmed a "buy" rating and issued a $11.00 price target on shares of Harmonic in a research note on Tuesday, July 29th. Finally, Barclays decreased their price target on Harmonic from $10.00 to $8.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 29th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $11.67.

Harmonic 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.