Charles Schwab Investment Management Inc. grew its holdings in Harmonic Inc. (NASDAQ:HLIT - Free Report) by 6.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,128,795 shares of the communications equipment provider's stock after buying an additional 71,225 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.99% of Harmonic worth $10,825,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. Quarry LP bought a new stake in shares of Harmonic in the 4th quarter worth about $33,000. CWM LLC lifted its holdings in shares of Harmonic by 132.6% in the 1st 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 during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Harmonic by 5,388.1% in the 4th quarter. Russell Investments Group Ltd. now owns 5,543 shares of the communications equipment provider's stock worth $73,000 after acquiring an additional 5,442 shares during the last quarter. Drive Wealth Management LLC bought a new stake in Harmonic during the 1st quarter valued at about $111,000. Finally, Mackenzie Financial Corp bought a new stake in Harmonic during the 1st quarter valued at about $132,000. Institutional investors own 99.38% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently weighed in on HLIT. Rosenblatt Securities reiterated a "buy" rating and set a $11.00 price objective on shares of Harmonic in a report on Tuesday, July 29th. Barclays decreased their price objective on shares of Harmonic from $10.00 to $8.00 and set an "equal weight" rating for the company in a report on Tuesday, July 29th. Needham & Company LLC decreased their price objective on shares of Harmonic from $14.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday, July 29th. Wolfe Research began coverage on shares of Harmonic in a report on Tuesday, July 8th. They set an "underperform" rating for the company. Finally, Wall Street Zen lowered shares of Harmonic from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Four equities 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $11.67.
Get Our Latest Stock Report on Harmonic
Harmonic Trading Up 4.3%
NASDAQ HLIT opened at $9.19 on Monday. 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 has a market capitalization of $1.05 billion, a price-to-earnings ratio of 15.58 and a beta of 1.00. The company's 50-day simple moving average is $9.10 and its two-hundred day simple moving average is $9.40. Harmonic Inc. has a one year low of $7.80 and a one year high of $15.46.
Harmonic (NASDAQ:HLIT - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.06. Harmonic had a net margin of 9.96% and a return on equity of 17.83%. The firm had revenue of $138.03 million for the quarter, compared to the consensus estimate of $134.90 million. During the same quarter in the previous year, the firm earned $0.08 EPS. The company's quarterly revenue was down .5% compared to the same quarter last year. Harmonic has set its Q3 2025 guidance at 0.020-0.070 EPS. Equities analysts forecast that Harmonic Inc. will post 0.31 EPS for the current fiscal year.
Harmonic Profile
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Free Report)
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.
Further Reading
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