Inspire Investing LLC Boosts Holdings in Harmonic Inc. $HLIT

Key Points

• Inspire Investing LLC has increased its stake in Harmonic Inc. by 181.7%, acquiring 54,776 additional shares to now own a total of 84,930 shares valued at $814,000.
• Several institutional investors, including Intech Investment Management and Jane Street Group, also significantly boosted their holdings in Harmonic during the same quarter.
• Despite a slight revenue decline, Harmonic reported an earnings per share (EPS) of $0.09 for the last quarter, outperforming analysts' expectations of $0.03.

Inspire Investing LLC boosted its holdings in Harmonic Inc. (NASDAQ:HLIT - Free Report) by 181.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,930 shares of the communications equipment provider's stock after purchasing an additional 54,776 shares during the quarter. Inspire Investing LLC owned about 0.08% of Harmonic worth $814,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of HLIT. CWM LLC increased its stake in Harmonic by 132.6% in the first quarter. CWM LLC now owns 7,119 shares of the communications equipment provider's stock valued at $68,000 after purchasing an additional 4,058 shares during the period. Drive Wealth Management LLC purchased a new position in shares of Harmonic during the first quarter worth about $111,000. Cresset Asset Management LLC increased its position in Harmonic by 16.5% in the 1st quarter. Cresset Asset Management LLC now owns 11,721 shares of the communications equipment provider's stock valued at $112,000 after acquiring an additional 1,660 shares during the period. Virtu Financial LLC purchased a new stake in Harmonic during the 1st quarter valued at approximately $114,000. Finally, Mackenzie Financial Corp purchased a new stake in Harmonic during the 1st quarter valued at approximately $132,000. Institutional investors and hedge funds own 99.38% of the company's stock.

Harmonic Price Performance

Shares of HLIT traded up $0.35 during trading hours on Thursday, reaching $10.38. The company had a trading volume of 256,798 shares, compared to its average volume of 1,147,345. The company has a current ratio of 1.99, a quick ratio of 1.58 and a debt-to-equity ratio of 0.27. Harmonic Inc. has a 12-month low of $7.80 and a 12-month high of $15.46. The firm has a 50 day simple moving average of $9.27 and a 200-day simple moving average of $9.35. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 17.59 and a beta of 1.01.

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

Analyst Ratings Changes

Several brokerages have weighed in on HLIT. Barclays lowered their target price on Harmonic from $10.00 to $8.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 29th. Wolfe Research assumed coverage on shares of Harmonic in a research report on Tuesday, July 8th. They issued an "underperform" rating on the stock. Rosenblatt Securities reissued a "buy" rating and issued a $11.00 price objective on shares of Harmonic in a research note on Tuesday, July 29th. Wall Street Zen downgraded shares of Harmonic from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, 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 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. Based on data from MarketBeat, Harmonic currently has an average rating of "Hold" and a consensus target price of $11.67.

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.