American Century Companies Inc. Acquires New Holdings in Harmonic Inc. $HLIT

Key Points

• American Century Companies Inc. invested $313,000 in Harmonic Inc. by purchasing 32,678 shares during the 1st quarter of the year.
• Harmonic reported earnings of $0.09 per share for the last quarter, exceeding analysts' expectations of $0.03, but showing a slight year-over-year revenue decline of 0.5%.
• The stock has a consensus rating of "Hold" from analysts, with a current price target averaging $11.67.

American Century Companies Inc. bought a new stake in Harmonic Inc. (NASDAQ:HLIT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 32,678 shares of the communications equipment provider's stock, valued at approximately $313,000.

Several other institutional investors and hedge funds have also made changes to their positions in HLIT. Northern Trust Corp boosted its stake in Harmonic by 13.3% during the 4th quarter. Northern Trust Corp now owns 1,252,837 shares of the communications equipment provider's stock valued at $16,575,000 after acquiring an additional 147,274 shares during the last quarter. Balyasny Asset Management L.P. lifted its position in shares of Harmonic by 35.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 91,281 shares of the communications equipment provider's stock worth $1,208,000 after purchasing an additional 23,723 shares during the last quarter. Brevan Howard Capital Management LP bought a new position in shares of Harmonic during the fourth quarter worth about $386,000. Cresset Asset Management LLC bought a new position in shares of Harmonic during the fourth quarter worth about $133,000. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of Harmonic by 355.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 214,874 shares of the communications equipment provider's stock worth $2,843,000 after purchasing an additional 167,660 shares during the last quarter. 99.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on HLIT shares. Rosenblatt Securities reaffirmed a "buy" rating and set a $11.00 price target on shares of Harmonic in a research report on Tuesday, July 29th. Wolfe Research started coverage on shares of Harmonic in a research report on Tuesday, July 8th. They set an "underperform" rating on the stock. Wall Street Zen cut shares of Harmonic from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Needham & Company LLC reduced their price target on shares of Harmonic from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday, July 29th. Finally, Barclays dropped their target price 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. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $11.67.

Harmonic Stock Performance

Shares of NASDAQ:HLIT traded up $0.28 during trading on Thursday, reaching $10.12. 1,040,844 shares of the company's stock traded hands, compared to its average volume of 1,001,483. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.99 and a quick ratio of 1.58. Harmonic Inc. has a 12 month low of $7.80 and a 12 month high of $15.46. The company has a 50 day moving average of $9.24 and a 200-day moving average of $9.36. The stock has a market capitalization of $1.15 billion, a P/E ratio of 17.15 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 analysts' consensus estimates of $0.03 by $0.06. The business had revenue of $138.03 million for the quarter, compared to analysts' expectations of $134.90 million. Harmonic had a net margin of 9.96% and a return on equity of 17.83%. The company's revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $0.08 EPS. 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 EPS 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.