Clearline Capital LP Buys 116,661 Shares of Harmonic Inc. $HLIT

Key Points

• Clearline Capital LP increased its holdings of Harmonic Inc. by 24.1%, acquiring an additional 116,661 shares, bringing its total to 599,778 shares valued at approximately $5.75 million.
• Several analysts have issued mixed ratings on Harmonic's stock; while Rosenblatt Securities maintained a "buy" rating with a price target of $11.00, Barclays lowered its target from $10.00 to $8.00, and other firms have given varied ratings from "hold" to "underperform."
• Harmonic reported a Q2 EPS of $0.09, surpassing estimates, with revenues of $138.03 million, a slight decrease from the same quarter last year.

Clearline Capital LP grew its holdings in Harmonic Inc. (NASDAQ:HLIT - Free Report) by 24.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 599,778 shares of the communications equipment provider's stock after acquiring an additional 116,661 shares during the period. Clearline Capital LP owned 0.53% of Harmonic worth $5,752,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Caxton Associates LLP bought a new position in Harmonic in the first quarter worth approximately $437,000. Dynamic Technology Lab Private Ltd bought a new position in Harmonic in the first quarter worth approximately $728,000. Petrus Trust Company LTA bought a new position in Harmonic in the first quarter worth approximately $300,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Harmonic by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,664 shares of the communications equipment provider's stock worth $630,000 after acquiring an additional 2,853 shares during the period. Finally, Alliancebernstein L.P. raised its position in Harmonic by 21.9% in the first quarter. Alliancebernstein L.P. now owns 2,615,121 shares of the communications equipment provider's stock worth $25,079,000 after acquiring an additional 469,764 shares during the period. 99.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on HLIT. Rosenblatt Securities reiterated a "buy" rating and issued a $11.00 price target on shares of Harmonic in a research report on Tuesday, July 29th. Wall Street Zen downgraded shares of Harmonic from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Barclays decreased their price target on shares of Harmonic from $10.00 to $8.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 29th. Wolfe Research started coverage on shares of Harmonic in a research report on Tuesday, July 8th. They issued an "underperform" rating on the stock. Finally, Needham & Company LLC reduced their price objective 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 equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $11.67.

Harmonic Stock Performance

Shares of NASDAQ HLIT opened at $10.04 on Monday. The firm has a fifty day moving average price of $9.22 and a 200-day moving average price of $9.35. 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 $1.14 billion, a PE ratio of 17.02 and a beta of 1.01. Harmonic Inc. has a 1 year low of $7.80 and a 1 year high of $15.46.

Harmonic (NASDAQ:HLIT - Get Free Report) last announced 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. The firm had revenue of $138.03 million during the quarter, compared to analysts' expectations of $134.90 million. Harmonic had a net margin of 9.96% and a return on equity of 17.83%. The company's revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.08 earnings per share. Harmonic has set its Q3 2025 guidance at 0.020-0.070 EPS. Equities analysts anticipate that Harmonic Inc. will post 0.31 earnings per share for the current fiscal year.

Harmonic Company 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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