643,553 Shares in Harmonic Inc. $HLIT Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon bought 643,553 Harmonic shares worth approximately $10.5 million, giving it a 0.59% stake. Institutional investors collectively own 99.38% of HLIT.
• Harmonic exceeded quarterly expectations, reporting $0.24 EPS versus the $0.17 consensus and $133.46 million in revenue, up 53.5% year over year. The company issued Q3 fiscal 2026 EPS guidance of $0.15–$0.19.
• Analyst sentiment is mixed, with three Buy, three Hold and one Sell rating; the consensus rating is Hold with an average price target of $17.50, compared with a recent share price of $11.79.

Bank of New York Mellon Corp bought a new stake in Harmonic Inc. (NASDAQ:HLIT - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 643,553 shares of the communications equipment provider's stock, valued at approximately $10,509,000. Bank of New York Mellon Corp owned about 0.59% of Harmonic at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of HLIT. Vanguard Group Inc. boosted its holdings in Harmonic by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 12,022,963 shares of the communications equipment provider's stock worth $118,907,000 after acquiring an additional 148,281 shares during the period. State Street Corp lifted its position in shares of Harmonic by 1.8% during the fourth quarter. State Street Corp now owns 4,471,187 shares of the communications equipment provider's stock worth $44,220,000 after purchasing an additional 80,791 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Harmonic by 5.4% in the first quarter. Dimensional Fund Advisors LP now owns 3,673,398 shares of the communications equipment provider's stock valued at $32,987,000 after purchasing an additional 188,293 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Harmonic by 2.9% in the third quarter. Alliancebernstein L.P. now owns 2,406,945 shares of the communications equipment provider's stock valued at $24,503,000 after purchasing an additional 68,921 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Harmonic by 2.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,196,469 shares of the communications equipment provider's stock worth $19,724,000 after buying an additional 54,157 shares in the last quarter. Institutional investors and hedge funds own 99.38% of the company's stock.

Harmonic Price Performance

Shares of NASDAQ:HLIT opened at $11.79 on Thursday. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -28.07 and a beta of 1.32. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.05 and a quick ratio of 2.56. Harmonic Inc. has a 12 month low of $8.47 and a 12 month high of $17.68. The stock's 50 day moving average price is $12.73 and its 200 day moving average price is $12.02.

Harmonic (NASDAQ:HLIT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The communications equipment provider reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.07. Harmonic had a positive return on equity of 10.91% and a negative net margin of 8.50%.The firm had revenue of $133.46 million during the quarter, compared to analyst estimates of $120.89 million. During the same period last year, the company posted $0.09 EPS. The firm's quarterly revenue was up 53.5% on a year-over-year basis. Harmonic has set its Q3 2026 guidance at 0.150-0.190 EPS and its FY 2026 guidance at 0.670-0.750 EPS. Equities research analysts anticipate that Harmonic Inc. will post 0.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HLIT has been the topic of several analyst reports. Raymond James Financial restated an "outperform" rating and set a $19.00 price objective on shares of Harmonic in a report on Thursday, August 13th. Zacks Research downgraded Harmonic from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 24th. Northland Securities set a $17.00 price objective on Harmonic in a report on Thursday, August 13th. Weiss Ratings lowered Harmonic from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, August 20th. Finally, Barclays boosted their price target on Harmonic from $15.00 to $16.00 and gave the company an "equal weight" rating in a report on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $17.50.

Harmonic Company Profile

Harmonic Inc NASDAQ: HLIT is a leading provider of video delivery infrastructure that enables service providers, broadcasters and content owners to capture, process and distribute high‐quality video across broadcast, cable, satellite and IP networks. The company's portfolio spans real‐time video compression solutions, including encoders and transcoders, as well as storage and server products designed for live production, playout and streaming on any device.

Harmonic's product lines include cable edge QAM modules and set‐top video processing platforms for traditional pay‐TV operators, alongside cloud‐native software for over‐the‐top (OTT) delivery, origin servers and content delivery network (CDN) services.

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