Advantage Alpha Capital Partners LP Increases Position in Harmonic Inc. $HLIT

Key Points

• Advantage Alpha Capital Partners LP increased its stake in Harmonic Inc. by 13.5%, acquiring an additional 53,851 shares, bringing its total to 453,838 shares valued at approximately $4.35 million.
• Harmonic's recent quarterly earnings exceeded expectations with $0.09 EPS reported, surpassing the consensus estimate of $0.03, although revenue declined by 0.5% year-over-year.
• Analysts have set mixed ratings and price targets for Harmonic's stock, with an average target price of $11.67 and a current average rating of "Hold".

Advantage Alpha Capital Partners LP increased its stake in Harmonic Inc. (NASDAQ:HLIT - Free Report) by 13.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 453,838 shares of the communications equipment provider's stock after purchasing an additional 53,851 shares during the quarter. Advantage Alpha Capital Partners LP owned about 0.40% of Harmonic worth $4,352,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Millennium Management LLC grew its position in 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. Nuveen LLC purchased a new position in shares of Harmonic in the 1st quarter worth about $8,621,000. Tudor Investment Corp ET AL boosted its holdings in shares of Harmonic by 198.2% in the 4th quarter. Tudor Investment Corp ET AL now owns 797,176 shares of the communications equipment provider's stock worth $10,547,000 after purchasing an additional 529,833 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Harmonic by 3.7% in the 1st 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 in the last quarter. Finally, Algert Global LLC boosted its holdings in shares of Harmonic by 1,583.7% in the 4th quarter. Algert Global LLC now owns 435,852 shares of the communications equipment provider's stock worth $5,766,000 after purchasing an additional 409,966 shares in the last quarter. 99.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on HLIT shares. Rosenblatt Securities reissued a "buy" rating and issued a $11.00 target price on shares of Harmonic in a research note on Tuesday, July 29th. Wolfe Research began coverage on Harmonic in a research report on Tuesday, July 8th. They set an "underperform" rating for the company. Needham & Company LLC lowered their price target on Harmonic from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, July 29th. Wall Street Zen lowered Harmonic from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Barclays lowered their price target 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. 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 a consensus rating of "Hold" and an average price target of $11.67.

Harmonic Stock Performance

Shares of NASDAQ HLIT traded up $0.07 during midday trading on Wednesday, hitting $9.49. 555,272 shares of the stock traded hands, compared to its average volume of 1,173,523. The firm has a 50-day moving average of $9.13 and a two-hundred day moving average of $9.39. The firm has a market capitalization of $1.08 billion, a P/E ratio of 16.09 and a beta of 1.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.58 and a current ratio of 1.99. 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 released its quarterly earnings results on Monday, July 28th. The communications equipment provider reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.06. Harmonic had a return on equity of 17.83% and a net margin of 9.96%.The firm had revenue of $138.03 million for the quarter, compared to analysts' expectations of $134.90 million. During the same period in the prior year, the firm earned $0.08 EPS. The company's revenue was down .5% compared to the same quarter last year. 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 EPS for the current fiscal year.

Harmonic 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.