Ancora Advisors LLC Has $94,000 Stock Holdings in Harmonic Inc. $HLIT

Key Points

• Ancora Advisors LLC significantly reduced its stake in Harmonic Inc. by selling 2,635,128 shares, bringing its holdings down to just 9,809 shares, valued at $94,000.
• Several institutional investors, including Principal Financial Group Inc. and GAMMA Investing LLC, increased their positions in Harmonic during the same period, showcasing mixed sentiment among investors.
• Harmonic recently reported quarterly earnings of $0.09 per share, exceeding analysts' expectations, despite a slight year-over-year revenue decline of 0.5%.

Ancora Advisors LLC reduced its holdings in Harmonic Inc. (NASDAQ:HLIT - Free Report) by 99.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,809 shares of the communications equipment provider's stock after selling 2,635,128 shares during the quarter. Ancora Advisors LLC's holdings in Harmonic were worth $94,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in HLIT. Millennium Management LLC increased its position in Harmonic by 9,004.4% in the 4th quarter. Millennium Management LLC now owns 4,719,837 shares of the communications equipment provider's stock valued at $62,443,000 after acquiring an additional 4,667,996 shares during the period. Nuveen LLC acquired a new stake in Harmonic in the 1st quarter valued at approximately $8,621,000. Vanguard Group Inc. increased its position in Harmonic by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 11,474,771 shares of the communications equipment provider's stock valued at $110,043,000 after acquiring an additional 411,443 shares during the period. Invesco Ltd. increased its position in Harmonic by 3.8% in the 1st quarter. Invesco Ltd. now owns 8,081,298 shares of the communications equipment provider's stock valued at $77,500,000 after acquiring an additional 292,584 shares during the period. Finally, Trexquant Investment LP increased its position in Harmonic by 246.5% in the 1st quarter. Trexquant Investment LP now owns 407,815 shares of the communications equipment provider's stock valued at $3,911,000 after acquiring an additional 290,112 shares during the period. 99.38% of the stock is currently owned by institutional investors and hedge funds.

Harmonic Stock Down 2.1%

NASDAQ:HLIT traded down $0.21 during trading hours on Friday, hitting $9.91. 704,169 shares of the stock traded hands, compared to its average volume of 1,009,623. The firm has a 50 day moving average price of $9.24 and a 200 day moving average price of $9.36. The company has a current ratio of 1.99, a quick ratio of 1.58 and a debt-to-equity ratio of 0.27. Harmonic Inc. has a fifty-two week low of $7.80 and a fifty-two week high of $15.46. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 16.80 and a beta of 1.01.

Harmonic (NASDAQ:HLIT - Get Free Report) last announced its earnings results on Monday, July 28th. The communications equipment provider reported $0.09 earnings per share (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 company had revenue of $138.03 million for the quarter, compared to the consensus estimate of $134.90 million. During the same period in the previous year, the business earned $0.08 EPS. 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. Equities research analysts anticipate that Harmonic Inc. will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently commented on the company. Barclays lowered their target price 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. Wall Street Zen downgraded Harmonic from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Wolfe Research began coverage on Harmonic in a research report on Tuesday, July 8th. They issued an "underperform" rating for the company. 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 report on Tuesday, July 29th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $11.00 target price on shares of Harmonic in a research report on Tuesday, July 29th. 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $11.67.

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.