Goldman Sachs Group Inc. Sells 130,841 Shares of Harmonic Inc. $HLIT

Key Points

• Goldman Sachs Group Inc. reduced its holdings in Harmonic Inc. by 17.3% during the first quarter, now owning 624,276 shares worth approximately $5.99 million.
• Other hedge funds, such as Alyeska Investment Group L.P., significantly increased their positions, with Alyeska boosting theirs by 310.1% to over 3 million shares valued at $29.5 million.
• Analysts' opinions on Harmonic vary, with recent price targets reduced by Barclays and Needham & Company LLC, while Rosenblatt Securities reiterated a "buy" rating with a target price of $11.00.

Goldman Sachs Group Inc. decreased its holdings in shares of Harmonic Inc. (NASDAQ:HLIT - Free Report) by 17.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 624,276 shares of the communications equipment provider's stock after selling 130,841 shares during the period. Goldman Sachs Group Inc. owned about 0.55% of Harmonic worth $5,987,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased 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. increased 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. Alyeska Investment Group L.P. increased its holdings in shares of Harmonic by 310.1% during the first quarter. Alyeska Investment Group L.P. now owns 3,077,776 shares of the communications equipment provider's stock worth $29,516,000 after buying an additional 2,327,272 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Harmonic by 21.9% during the first quarter. Alliancebernstein L.P. now owns 2,615,121 shares of the communications equipment provider's stock worth $25,079,000 after buying an additional 469,764 shares in the last quarter. Finally, Systematic Financial Management LP increased 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

Several analysts have recently weighed in on HLIT shares. Wall Street Zen lowered shares of Harmonic from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Rosenblatt Securities reaffirmed a "buy" rating and set a $11.00 price objective on shares of Harmonic in a report on Tuesday, July 29th. Wolfe Research initiated coverage on shares of Harmonic in a report on Tuesday, July 8th. They issued an "underperform" rating for the company. Barclays lowered their price target 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. Finally, Needham & Company LLC lowered their price target 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. 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 company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $11.67.

Harmonic Trading Down 2.8%

Shares of NASDAQ HLIT traded down $0.30 during midday trading on Friday, reaching $10.20. 553,549 shares of the stock were exchanged, compared to its average volume of 1,147,434. The business has a 50-day simple moving average of $9.29 and a two-hundred day simple moving average of $9.35. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 17.28 and a beta of 1.01. Harmonic Inc. has a 12 month low of $7.80 and a 12 month high of $15.46. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.99 and a quick ratio of 1.58.

Harmonic (NASDAQ:HLIT - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The communications equipment provider reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.06. The company had revenue of $138.03 million for 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 business's quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the firm posted $0.08 earnings per share. Harmonic has set its Q3 2025 guidance at 0.020-0.070 EPS. As a group, equities 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.