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 stake in Harmonic Inc. (NASDAQ:HLIT - Free Report) by 17.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 624,276 shares of the communications equipment provider's stock after selling 130,841 shares during the period. Goldman Sachs Group Inc. owned approximately 0.55% of Harmonic worth $5,987,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of HLIT. Alyeska Investment Group L.P. grew its stake in shares of Harmonic by 310.1% in 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 acquiring an additional 2,327,272 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Harmonic in the first quarter worth $8,621,000. Alliancebernstein L.P. lifted 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 purchasing an additional 469,764 shares during the period. Vanguard Group Inc. lifted its position in Harmonic by 3.7% in the first quarter. Vanguard Group Inc. now owns 11,474,771 shares of the communications equipment provider's stock worth $110,043,000 after purchasing an additional 411,443 shares during the period. Finally, Invesco Ltd. lifted its position in Harmonic by 3.8% in the first quarter. Invesco Ltd. now owns 8,081,298 shares of the communications equipment provider's stock worth $77,500,000 after purchasing an additional 292,584 shares during the period. Institutional investors and hedge funds own 99.38% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on HLIT shares. Wall Street Zen cut Harmonic from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Rosenblatt Securities reaffirmed a "buy" rating and issued a $11.00 target price on shares of Harmonic in a research report on Tuesday, July 29th. Barclays reduced their target price on Harmonic from $10.00 to $8.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 29th. Needham & Company LLC reduced their target price on Harmonic from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, July 29th. Finally, Wolfe Research assumed coverage on Harmonic in a report on Tuesday, July 8th. They set an "underperform" rating for the company. 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. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $11.67.

Harmonic Trading Down 2.7%

Shares of HLIT stock traded down $0.28 on Friday, reaching $10.21. The company had a trading volume of 1,523,868 shares, compared to its average volume of 968,625. The company has a current ratio of 1.99, a quick ratio of 1.58 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.16 billion, a PE ratio of 17.31 and a beta of 1.01. The company has a 50-day moving average of $9.31 and a 200-day moving average of $9.35. Harmonic Inc. has a 12 month low of $7.80 and a 12 month high of $15.46.

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