898,938 Shares in Harmonic Inc. $HLIT Purchased by Nuveen LLC

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 position in shares of Harmonic Inc. (NASDAQ:HLIT - Free Report) in the first quarter, according to its most recent 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 about 0.79% of Harmonic at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. raised 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. Principal Financial Group Inc. increased its holdings in Harmonic by 2.8% in the first quarter. Principal Financial Group Inc. now owns 583,943 shares of the communications equipment provider's stock worth $5,600,000 after purchasing an additional 15,756 shares in the last quarter. GAMMA Investing LLC increased its holdings in Harmonic by 415.7% in the first quarter. GAMMA Investing LLC now owns 8,612 shares of the communications equipment provider's stock worth $898,000 after purchasing an additional 6,942 shares in the last quarter. Northern Trust Corp increased its holdings in Harmonic by 13.3% in the fourth quarter. Northern Trust Corp now owns 1,252,837 shares of the communications equipment provider's stock worth $16,575,000 after purchasing an additional 147,274 shares in the last quarter. Finally, CWM LLC increased its holdings in Harmonic by 132.6% in the first quarter. CWM LLC now owns 7,119 shares of the communications equipment provider's stock worth $68,000 after purchasing an additional 4,058 shares in the last quarter. 99.38% of the stock is currently owned by institutional investors.

Harmonic Stock Performance

Shares of NASDAQ:HLIT traded up $0.21 during midday trading on Thursday, reaching $9.70. 792,034 shares of the company traded hands, compared to its average volume of 1,173,605. The company has a quick ratio of 1.58, a current ratio of 1.99 and a debt-to-equity ratio of 0.27. Harmonic Inc. has a 12 month low of $7.80 and a 12 month high of $15.46. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 16.37 and a beta of 1.00. The firm's fifty day moving average price is $9.14 and its two-hundred day moving average price is $9.39.

Harmonic (NASDAQ:HLIT - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating 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 company had revenue of $138.03 million for the quarter, compared to analyst estimates of $134.90 million. During the same period in the previous year, the company posted $0.08 EPS. The firm'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. On average, equities analysts expect that Harmonic Inc. will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

HLIT has been the subject of a number of research reports. Needham & Company LLC reduced their price objective on Harmonic from $14.00 to $12.00 and set a "buy" rating for the company in a research note on Tuesday, July 29th. Wolfe Research initiated coverage on Harmonic in a research note on Tuesday, July 8th. They issued an "underperform" rating for the company. Wall Street Zen cut Harmonic from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Rosenblatt Securities reissued a "buy" rating and issued a $11.00 price objective on shares of Harmonic in a research note on Tuesday, July 29th. Finally, Barclays reduced their price objective on Harmonic from $10.00 to $8.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 29th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target 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.