Public Sector Pension Investment Board Has $3.56 Million Stake in Harmonic Inc. $HLIT

Key Points

• The Public Sector Pension Investment Board increased its stake in Harmonic Inc. by 27.8%, bringing its total holdings to 371,160 shares worth approximately $3.56 million.
• Harmonic's quarterly earnings exceeded expectations with an EPS of $0.09, outperforming the consensus estimate of $0.03, despite a 0.5% decline in revenue year-over-year.
• Analysts have mixed ratings on Harmonic, with one downgrade to "hold" and target price reductions, while others maintain a "buy" rating and a consensus target price of $11.67.

Public Sector Pension Investment Board raised its stake in shares of Harmonic Inc. (NASDAQ:HLIT - Free Report) by 27.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 371,160 shares of the communications equipment provider's stock after purchasing an additional 80,851 shares during the quarter. Public Sector Pension Investment Board owned 0.33% of Harmonic worth $3,559,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in HLIT. Millennium Management LLC increased its holdings in shares of Harmonic by 9,004.4% during the 4th quarter. Millennium Management LLC now owns 4,719,837 shares of the communications equipment provider's stock worth $62,443,000 after purchasing an additional 4,667,996 shares during the period. Nuveen LLC bought a new position in shares of Harmonic during the 1st quarter worth about $8,621,000. Tudor Investment Corp ET AL increased its holdings in shares of Harmonic by 198.2% during 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 during the period. Vanguard Group Inc. increased its holdings in shares of Harmonic by 3.7% during 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 during the period. Finally, Algert Global LLC increased its holdings in shares of Harmonic by 1,583.7% during 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 during the period. Institutional investors own 99.38% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Barclays decreased their target price 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. Wall Street Zen cut shares of Harmonic from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Needham & Company LLC lowered their target price on shares of Harmonic from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Tuesday, July 29th. Wolfe Research started coverage on shares of Harmonic in a research note on Tuesday, July 8th. They issued an "underperform" rating on the stock. Finally, 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. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $11.67.

Harmonic Price Performance

NASDAQ:HLIT traded up $0.38 on Friday, reaching $9.19. The stock had a trading volume of 2,183,625 shares, compared to its average volume of 1,298,039. The company has a market capitalization of $1.05 billion, a P/E ratio of 15.58 and a beta of 1.00. Harmonic Inc. has a 1-year low of $7.80 and a 1-year high of $15.46. 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 stock has a fifty day moving average price of $9.10 and a 200-day moving average price of $9.40.

Harmonic (NASDAQ:HLIT - Get Free Report) last released 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 firm had revenue of $138.03 million for the quarter, compared to analyst estimates 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 previous year, the business earned $0.08 earnings per share. Harmonic has set its Q3 2025 guidance at 0.020-0.070 EPS. Research analysts forecast that Harmonic Inc. will post 0.31 EPS for the current 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.