Caxton Associates LLP Buys New Position in Harmonic Inc. $HLIT

Key Points

• Caxton Associates LLP acquired 45,521 shares of Harmonic Inc. (NASDAQ:HLIT), valued at approximately $437,000, during the first quarter.
• Multiple institutional investors increased their stakes in Harmonic, with GAMMA Investing LLC raising its stake by 415.7% in the same period.
• Harmonic's latest earnings report showed EPS of $0.09, exceeding analysts' expectations, despite a 0.5% decrease in quarterly revenue year-over-year.

Caxton Associates LLP acquired a new position in shares of Harmonic Inc. (NASDAQ:HLIT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 45,521 shares of the communications equipment provider's stock, valued at approximately $437,000.

A number of other institutional investors also recently made changes to their positions in HLIT. Arizona State Retirement System boosted its stake in shares of Harmonic by 4.2% in the first quarter. Arizona State Retirement System now owns 33,392 shares of the communications equipment provider's stock valued at $320,000 after buying an additional 1,344 shares during the period. Cresset Asset Management LLC lifted its stake in Harmonic by 16.5% during the first 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 during the last quarter. Bouvel Investment Partners LLC lifted its stake in Harmonic by 1.8% during the first quarter. Bouvel Investment Partners LLC now owns 120,524 shares of the communications equipment provider's stock worth $1,156,000 after purchasing an additional 2,079 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Harmonic by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,811 shares of the communications equipment provider's stock worth $831,000 after purchasing an additional 2,146 shares during the last quarter. Finally, Entropy Technologies LP lifted its stake in Harmonic by 27.1% during the first quarter. Entropy Technologies LP now owns 14,016 shares of the communications equipment provider's stock worth $134,000 after purchasing an additional 2,990 shares during the last quarter. Institutional investors own 99.38% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on HLIT shares. 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 started coverage on Harmonic in a research note on Tuesday, July 8th. They set an "underperform" rating for the company. Rosenblatt Securities restated 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. Finally, Wall Street Zen cut Harmonic from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $11.67.

Harmonic Price Performance

Shares of HLIT traded up $0.46 during trading hours on Thursday, reaching $10.49. The stock had a trading volume of 935,572 shares, compared to its average volume of 982,934. Harmonic Inc. has a 12 month low of $7.80 and a 12 month high of $15.46. The stock has a market capitalization of $1.19 billion, a PE ratio of 17.78 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. The company's 50-day moving average is $9.29 and its two-hundred day moving average is $9.35.

Harmonic (NASDAQ:HLIT - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The communications equipment provider reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.06. The business had revenue of $138.03 million during the quarter, compared to the consensus estimate 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 period in the prior year, the business posted $0.08 earnings per share. Harmonic has set its Q3 2025 guidance at 0.020-0.070 EPS. Research analysts expect that Harmonic Inc. will post 0.31 EPS for the current year.

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.