Assenagon Asset Management S.A. Has $2.71 Million Stock Holdings in Harmonic Inc. $HLIT

Key Points

• Assenagon Asset Management S.A. has reduced its stake in Harmonic Inc. by 18.0%, now holding approximately 285,795 shares valued at $2.71 million.
• Harmonic's stock price has fluctuated between a one-year low of $7.80 and a high of $15.46, currently trading at $9.90.
• Analysts have mixed ratings on Harmonic, with a consensus rating of "Hold" and an average price target of $11.67.

Assenagon Asset Management S.A. cut its stake in Harmonic Inc. (NASDAQ:HLIT - Free Report) by 18.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 285,795 shares of the communications equipment provider's stock after selling 62,587 shares during the period. Assenagon Asset Management S.A. owned about 0.25% of Harmonic worth $2,706,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. CWM LLC raised its stake in Harmonic by 132.6% during the first quarter. CWM LLC now owns 7,119 shares of the communications equipment provider's stock worth $68,000 after acquiring an additional 4,058 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Harmonic by 415.7% during 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. Drive Wealth Management LLC acquired a new stake in shares of Harmonic during the 1st quarter worth about $111,000. Cresset Asset Management LLC increased its position in shares of 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 purchasing an additional 1,660 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Harmonic during the 1st quarter worth about $114,000. 99.38% of the stock is owned by institutional investors and hedge funds.

Harmonic Stock Up 0.1%

Shares of NASDAQ:HLIT opened at $9.90 on Friday. Harmonic Inc. has a one year low of $7.80 and a one year high of $15.46. The company has a 50 day moving average of $9.38 and a 200-day moving average of $9.34. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.99 and a quick ratio of 1.58. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 16.78 and a beta of 1.01.

Harmonic (NASDAQ:HLIT - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The communications equipment provider reported $0.09 EPS 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 company had revenue of $138.03 million during the quarter, compared to analysts' expectations of $134.90 million. During the same quarter in the previous year, the company earned $0.08 EPS. Harmonic's revenue was down .5% on a year-over-year basis. Harmonic has set its Q3 2025 guidance at 0.020-0.070 EPS. On average, sell-side analysts forecast that Harmonic Inc. will post 0.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on HLIT shares. Wolfe Research started coverage on shares of Harmonic in a report on Tuesday, July 8th. They set an "underperform" rating for the company. Wall Street Zen downgraded Harmonic from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Rosenblatt Securities restated a "buy" rating and issued a $11.00 target price on shares of Harmonic in a research note on Tuesday, July 29th. Barclays lowered 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. Finally, Needham & Company LLC dropped their target price on shares of Harmonic from $14.00 to $12.00 and set a "buy" rating for the company 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 issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target 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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