Nuveen LLC Makes New $8.62 Million Investment in Harmonic Inc. $HLIT

Key Points

• Nuveen LLC purchased 898,938 shares of Harmonic Inc. ($HLIT) valued at approximately $8.62 million during the first quarter, increasing its stake to about 0.79% of the company.
• Several institutional investors significantly increased their holdings in Harmonic, with Millennium Management LLC growing its stake by a staggering 9,004.4% in the fourth quarter.
• Analysts have mixed ratings on Harmonic's stock, with a current average rating of "Hold" and a price target of $11.67, reflecting varied outlooks on the company's performance.

Nuveen LLC acquired a new stake in Harmonic Inc. (NASDAQ:HLIT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 898,938 shares of the communications equipment provider's stock, valued at approximately $8,621,000. Nuveen LLC owned 0.79% of Harmonic at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in HLIT. Quarry LP purchased a new stake in shares of Harmonic during the fourth quarter worth about $33,000. CWM LLC increased its position in shares of Harmonic by 132.6% during the first quarter. CWM LLC now owns 7,119 shares of the communications equipment provider's stock worth $68,000 after acquiring an additional 4,058 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Harmonic by 5,388.1% during the fourth quarter. Russell Investments Group Ltd. now owns 5,543 shares of the communications equipment provider's stock worth $73,000 after acquiring an additional 5,442 shares during the last quarter. Drive Wealth Management LLC purchased a new stake in shares of Harmonic during the first quarter worth about $111,000. Finally, Virtu Financial LLC purchased a new stake in shares of Harmonic during the first quarter worth about $114,000. 99.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Harmonic Stock Performance

HLIT stock traded down $0.10 on Friday, reaching $9.62. The company's stock had a trading volume of 668,089 shares, compared to its average volume of 1,154,539. Harmonic Inc. has a 52 week low of $7.80 and a 52 week high of $15.46. The company has a market capitalization of $1.09 billion, a P/E ratio of 16.31 and a beta of 1.00. The firm has a fifty day moving average of $9.17 and a two-hundred day moving average of $9.38. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.99 and a quick ratio of 1.58.

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

Harmonic Company 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.