Alliancebernstein L.P. Increases Stock Position in Harmonic Inc. $HLIT

Key Points

• Alliancebernstein L.P. increased its stake in Harmonic Inc. by 21.9%, holding approximately 2.31% of the company valued at $25.08 million as of the latest SEC filing.
• Harmonic reported a quarterly earnings per share (EPS) of $0.09, surpassing analysts' estimates, although revenue decreased by 0.5% compared to the previous year.
• Recent analyst ratings on Harmonic show a mix of opinions, with price targets ranging from $8.00 to $12.00 and an average rating of "Hold".

Alliancebernstein L.P. grew its position in Harmonic Inc. (NASDAQ:HLIT - Free Report) by 21.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,615,121 shares of the communications equipment provider's stock after buying an additional 469,764 shares during the quarter. Alliancebernstein L.P. owned 2.31% of Harmonic worth $25,079,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC raised its position 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 valued at $68,000 after buying an additional 4,058 shares in the last quarter. Drive Wealth Management LLC bought a new stake in Harmonic during the 1st quarter worth approximately $111,000. Cresset Asset Management LLC grew its holdings in Harmonic by 16.5% during the 1st quarter. Cresset Asset Management LLC now owns 11,721 shares of the communications equipment provider's stock worth $112,000 after acquiring an additional 1,660 shares during the last quarter. Virtu Financial LLC bought a new stake in Harmonic during the 1st quarter worth approximately $114,000. Finally, Mackenzie Financial Corp bought a new stake in Harmonic during the 1st quarter worth approximately $132,000. 99.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Harmonic Stock Down 2.1%

HLIT traded down $0.21 during trading on Friday, hitting $9.91. 704,169 shares of the company's stock were exchanged, compared to its average volume of 1,009,623. The company has a quick ratio of 1.58, a current ratio of 1.99 and a debt-to-equity ratio of 0.27. The business's 50 day moving average is $9.24 and its two-hundred day moving average is $9.36. Harmonic Inc. has a fifty-two week low of $7.80 and a fifty-two week high of $15.46. The stock has a market cap of $1.13 billion, a P/E ratio of 16.80 and a beta of 1.01.

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 for the quarter, topping 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 for the quarter, compared to the consensus estimate of $134.90 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. The business'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, equities analysts expect that Harmonic Inc. will post 0.31 earnings per share for the current fiscal year.

About Harmonic

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.