Algert Global LLC Trims Holdings in Harmonic Inc. $HLIT

Key Points

• Algert Global LLC reduced its holdings in Harmonic Inc. by 41.6%, now owning approximately 0.23% of the company, equivalent to $2.44 million.
• Harmonic reported $0.09 EPS for the last quarter, surpassing estimates, while projected earnings for Q3 2025 are set between $0.020 and $0.070 per share.
• Analysts have mixed ratings on the stock, with four recommending a "buy", two a "hold", and one a "sell", reflecting a consensus price target of $11.67.

Algert Global LLC decreased its holdings in shares of Harmonic Inc. (NASDAQ:HLIT - Free Report) by 41.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 254,480 shares of the communications equipment provider's stock after selling 181,372 shares during the period. Algert Global LLC owned approximately 0.23% of Harmonic worth $2,440,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in HLIT. Millennium Management LLC raised its holdings in shares of Harmonic by 9,004.4% in the fourth quarter. Millennium Management LLC now owns 4,719,837 shares of the communications equipment provider's stock valued at $62,443,000 after purchasing an additional 4,667,996 shares during the last quarter. Nuveen LLC bought a new position in Harmonic during the first quarter worth about $8,621,000. Tudor Investment Corp ET AL boosted its position in Harmonic by 198.2% during the fourth quarter. Tudor Investment Corp ET AL now owns 797,176 shares of the communications equipment provider's stock worth $10,547,000 after purchasing an additional 529,833 shares during the period. Vanguard Group Inc. boosted its position in Harmonic by 3.7% during the first quarter. Vanguard Group Inc. now owns 11,474,771 shares of the communications equipment provider's stock worth $110,043,000 after purchasing an additional 411,443 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Harmonic during the fourth quarter worth about $4,292,000. Hedge funds and other institutional investors own 99.38% of the company's stock.

Analyst Ratings Changes

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

Harmonic Stock Performance

NASDAQ:HLIT traded up $0.07 during mid-day trading on Tuesday, reaching $9.42. The company's stock had a trading volume of 1,369,613 shares, compared to its average volume of 1,261,292. Harmonic Inc. has a 12-month low of $7.80 and a 12-month high of $15.46. The firm's fifty day moving average price is $9.13 and its two-hundred day moving average price is $9.39. The company has a current ratio of 1.99, a quick ratio of 1.58 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.07 billion, a P/E ratio of 15.97 and a beta of 1.00.

Harmonic (NASDAQ:HLIT - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The communications equipment provider reported $0.09 EPS for the quarter, beating the consensus estimate of $0.03 by $0.06. Harmonic had a net margin of 9.96% and a return on equity of 17.83%. The firm had revenue of $138.03 million during the quarter, compared to analyst estimates of $134.90 million. During the same quarter in the prior year, the firm earned $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. On average, equities analysts forecast 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.