BlackRock Inc. Acquires Shares of 18,004,412 Harmonic Inc. $HLIT

Key Points

• BlackRock acquired 18 million Harmonic shares during the second quarter, building a stake worth approximately $294 million and representing 16.59% of the company. Institutional investors collectively own 99.38% of HLIT.
• Harmonic reported quarterly EPS of $0.24, beating the $0.17 consensus, while revenue rose 53.5% year over year to $133.46 million. The company issued third-quarter 2026 EPS guidance of $0.15–$0.19 and full-year guidance of $0.67–$0.75.
• Analyst sentiment remains mixed: three analysts rate the stock Buy, three Hold and one Sell. The consensus rating is Hold, with an average price target of $17.50 versus the shares’ $12.44 opening price.

BlackRock Inc. acquired a new stake in shares of Harmonic Inc. (NASDAQ:HLIT - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 18,004,412 shares of the communications equipment provider's stock, valued at approximately $294,012,000. BlackRock Inc. owned 16.59% of Harmonic as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sei Investments Co. increased its stake in Harmonic by 2.0% during the 1st quarter. Sei Investments Co. now owns 70,742 shares of the communications equipment provider's stock worth $635,000 after buying an additional 1,383 shares during the period. Aristides Capital LLC boosted its position in Harmonic by 7.2% in the 1st quarter. Aristides Capital LLC now owns 21,943 shares of the communications equipment provider's stock valued at $197,000 after buying an additional 1,483 shares during the last quarter. Inspire Investing LLC grew its stake in shares of Harmonic by 5.4% during the fourth quarter. Inspire Investing LLC now owns 47,233 shares of the communications equipment provider's stock valued at $467,000 after acquiring an additional 2,428 shares in the last quarter. Stephens Inc. AR grew its stake in shares of Harmonic by 6.5% during the fourth quarter. Stephens Inc. AR now owns 41,893 shares of the communications equipment provider's stock valued at $414,000 after acquiring an additional 2,548 shares in the last quarter. Finally, Caxton Associates LLP increased its position in shares of Harmonic by 21.2% during the first quarter. Caxton Associates LLP now owns 15,937 shares of the communications equipment provider's stock worth $143,000 after acquiring an additional 2,789 shares during the last quarter. 99.38% of the stock is currently owned by hedge funds and other institutional investors.

Harmonic Stock Up 1.1%

Shares of NASDAQ:HLIT opened at $12.44 on Thursday. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -29.62 and a beta of 1.32. Harmonic Inc. has a 1-year low of $8.47 and a 1-year high of $17.68. The company's fifty day moving average is $13.02 and its two-hundred day moving average is $11.96. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.56 and a current ratio of 3.05.

Harmonic (NASDAQ:HLIT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The communications equipment provider reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.07. The business had revenue of $133.46 million during the quarter, compared to the consensus estimate of $120.89 million. Harmonic had a negative net margin of 8.50% and a positive return on equity of 10.91%. The company's revenue for the quarter was up 53.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 EPS. Harmonic has set its Q3 2026 guidance at 0.150-0.190 EPS and its FY 2026 guidance at 0.670-0.750 EPS. Equities analysts anticipate that Harmonic Inc. will post 0.5 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on HLIT. Wall Street Zen lowered Harmonic from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 1st. Rosenblatt Securities reissued a "buy" rating and set a $20.00 price target on shares of Harmonic in a research report on Thursday, August 13th. Northland Securities set a $17.00 price target on shares of Harmonic in a research note on Thursday, August 13th. Needham & Company LLC reaffirmed a "buy" rating on shares of Harmonic in a report on Thursday, August 13th. Finally, Weiss Ratings cut shares of Harmonic from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, August 20th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $17.50.

Harmonic Profile

Harmonic Inc NASDAQ: HLIT is a leading provider of video delivery infrastructure that enables service providers, broadcasters and content owners to capture, process and distribute high‐quality video across broadcast, cable, satellite and IP networks. The company's portfolio spans real‐time video compression solutions, including encoders and transcoders, as well as storage and server products designed for live production, playout and streaming on any device.

Harmonic's product lines include cable edge QAM modules and set‐top video processing platforms for traditional pay‐TV operators, alongside cloud‐native software for over‐the‐top (OTT) delivery, origin servers and content delivery network (CDN) services.

Want to see what other hedge funds are holding HLIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Harmonic Inc. (NASDAQ:HLIT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source