Algert Global LLC Sells 181,372 Shares of 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 reduced its position 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 about 0.23% of Harmonic worth $2,440,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP bought a new stake in Harmonic in the fourth quarter valued at approximately $33,000. Russell Investments Group Ltd. lifted its holdings in shares of Harmonic by 5,388.1% in the 4th quarter. Russell Investments Group Ltd. now owns 5,543 shares of the communications equipment provider's stock worth $73,000 after purchasing an additional 5,442 shares in the last quarter. CWM LLC lifted its holdings in shares of Harmonic by 132.6% in the 1st 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. GAMMA Investing LLC lifted its holdings in shares of Harmonic by 415.7% in the 1st 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. Finally, Cresset Asset Management LLC bought a new position in shares of Harmonic in the 4th quarter worth $133,000. 99.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Wall Street Zen cut Harmonic from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Needham & Company LLC dropped their price objective 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 started coverage on Harmonic in a research note on Tuesday, July 8th. They set an "underperform" rating on the stock. Rosenblatt Securities restated a "buy" rating and set a $11.00 price objective on shares of Harmonic in a research note on Tuesday, July 29th. Finally, Barclays cut their price objective on Harmonic from $10.00 to $8.00 and set an "equal weight" rating on the stock in a research report 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's stock. Based on data from MarketBeat.com, Harmonic presently has a consensus rating of "Hold" and a consensus price target of $11.67.

Harmonic Stock Up 1.5%

HLIT traded up $0.1350 during trading on Monday, reaching $9.3250. The stock had a trading volume of 711,385 shares, compared to its average volume of 1,170,400. Harmonic Inc. has a one year low of $7.80 and a one year high of $15.46. 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 company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 15.83 and a beta of 1.00. The stock's 50 day moving average is $9.10 and its two-hundred day moving average is $9.40.

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