Cubist Systematic Strategies LLC Invests $2.64 Million in Harmonic Inc. $HLIT

Key Points

• Cubist Systematic Strategies LLC has invested approximately $2.64 million in Harmonic Inc. by acquiring 275,576 shares, representing 0.24% of the company's stock.
• Harmonic's most recent earnings report showed EPS of $0.09, surpassing analysts' expectations of $0.03, with a revenue of $138.03 million, beating forecasts as well.
• Analysts have mixed ratings on Harmonic, with a consensus rating of "Hold" and an average price target of $11.67, while some firms have reduced their price targets significantly.

Cubist Systematic Strategies LLC purchased a new position in shares of Harmonic Inc. (NASDAQ:HLIT - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 275,576 shares of the communications equipment provider's stock, valued at approximately $2,643,000. Cubist Systematic Strategies LLC owned 0.24% of Harmonic at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Harmonic by 3.7% during the first quarter. Vanguard Group Inc. now owns 11,474,771 shares of the communications equipment provider's stock worth $110,043,000 after buying an additional 411,443 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Harmonic by 3.8% during the first quarter. Invesco Ltd. now owns 8,081,298 shares of the communications equipment provider's stock worth $77,500,000 after buying an additional 292,584 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Harmonic by 9,004.4% during the fourth quarter. Millennium Management LLC now owns 4,719,837 shares of the communications equipment provider's stock worth $62,443,000 after buying an additional 4,667,996 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Harmonic by 13.3% during the fourth quarter. Northern Trust Corp now owns 1,252,837 shares of the communications equipment provider's stock worth $16,575,000 after buying an additional 147,274 shares in the last quarter. Finally, Systematic Financial Management LP grew its holdings in shares of Harmonic by 1.9% during the first quarter. Systematic Financial Management LP now owns 1,137,980 shares of the communications equipment provider's stock worth $10,913,000 after buying an additional 21,369 shares in the last quarter. Institutional investors and hedge funds own 99.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays decreased their price objective on 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 Harmonic from $14.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday, July 29th. Wall Street Zen downgraded Harmonic from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Rosenblatt Securities restated a "buy" rating and issued a $11.00 price target on shares of Harmonic in a research note on Tuesday, July 29th. Finally, Wolfe Research initiated coverage on Harmonic in a research note on Tuesday, July 8th. They issued an "underperform" rating for the company. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $11.67.

Harmonic Stock Up 1.2%

HLIT stock opened at $10.04 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.99 and a debt-to-equity ratio of 0.27. The business has a 50 day moving average price of $9.22 and a two-hundred day moving average price of $9.37. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 17.02 and a beta of 1.01. Harmonic Inc. has a twelve month low of $7.80 and a twelve month high of $15.46.

Harmonic (NASDAQ:HLIT - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.06. Harmonic had a return on equity of 17.83% and a net margin of 9.96%.The company had revenue of $138.03 million during the quarter, compared to analysts' expectations of $134.90 million. During the same period last year, the firm posted $0.08 earnings per share. The business's revenue was down .5% on a year-over-year basis. Harmonic has set its Q3 2025 guidance at 0.020-0.070 EPS. Analysts anticipate that Harmonic Inc. will post 0.31 EPS for the current fiscal 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.

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