Alyeska Investment Group L.P. Boosts Stock Position in Harmonic Inc. $HLIT

Key Points

• Alyeska Investment Group L.P. significantly increased its stake in Harmonic Inc. by 310.1% during the first quarter, now owning approximately 2.72% of the company worth $29.5 million.
• Harmonic Inc. reported an EPS of $0.09 for the last quarter, surpassing expectations, and had a revenue of $138.03 million, slightly above analyst predictions.
• Analysts have varied ratings on Harmonic, with a consensus target price of $11.67, indicating differing perspectives on the company's future prospects.

Alyeska Investment Group L.P. raised its stake in shares of Harmonic Inc. (NASDAQ:HLIT - Free Report) by 310.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,077,776 shares of the communications equipment provider's stock after acquiring an additional 2,327,272 shares during the period. Alyeska Investment Group L.P. owned approximately 2.72% of Harmonic worth $29,516,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWM LLC raised its stake in Harmonic by 132.6% during the 1st quarter. CWM LLC now owns 7,119 shares of the communications equipment provider's stock valued at $68,000 after acquiring an additional 4,058 shares during the last quarter. GAMMA Investing LLC raised its stake in Harmonic by 415.7% during the 1st quarter. GAMMA Investing LLC now owns 8,612 shares of the communications equipment provider's stock valued at $898,000 after acquiring an additional 6,942 shares during the last quarter. Cresset Asset Management LLC purchased a new stake in Harmonic during the 4th quarter valued at approximately $133,000. PharVision Advisers LLC purchased a new stake in Harmonic during the 4th quarter valued at approximately $138,000. Finally, Drive Wealth Management LLC purchased a new position in shares of Harmonic during the 1st quarter worth approximately $111,000. 99.38% of the stock is owned by hedge funds and other institutional investors.

Harmonic Price Performance

Shares of NASDAQ:HLIT opened at $9.77 on Thursday. The business's fifty day moving average price is $9.20 and its two-hundred day moving average price is $9.38. The stock has a market cap of $1.11 billion, a PE ratio of 16.56 and a beta of 1.01. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.58 and a current ratio of 1.99. Harmonic Inc. has a one year low of $7.80 and a one year high of $15.46.

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

Analysts Set New Price Targets

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

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