Invesco Ltd. Purchases 292,584 Shares of Harmonic Inc. $HLIT

Key Points

• Invesco Ltd. increased its stake in Harmonic Inc. by 3.8% during the first quarter, acquiring an additional 292,584 shares, raising its total holdings to approximately 8.08 million shares valued at $77.5 million.
• Institutional investors own a total of 99.38% of Harmonic's stock, indicating a strong interest from major financial entities.
• Recent analyst opinions on Harmonic show mixed ratings, with target prices ranging from $8.00 to $12.00 and a consensus rating of "Hold".

Invesco Ltd. grew its holdings in Harmonic Inc. (NASDAQ:HLIT - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,081,298 shares of the communications equipment provider's stock after purchasing an additional 292,584 shares during the period. Invesco Ltd. owned approximately 7.15% of Harmonic worth $77,500,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of HLIT. Quarry LP acquired a new position in Harmonic during the 4th quarter worth about $33,000. CWM LLC lifted its stake in Harmonic by 132.6% during the 1st quarter. CWM LLC now owns 7,119 shares of the communications equipment provider's stock worth $68,000 after acquiring an additional 4,058 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Harmonic by 5,388.1% during the 4th quarter. Russell Investments Group Ltd. now owns 5,543 shares of the communications equipment provider's stock worth $73,000 after acquiring an additional 5,442 shares in the last quarter. Drive Wealth Management LLC acquired a new position in Harmonic during the 1st quarter worth about $111,000. Finally, Mackenzie Financial Corp acquired a new position in Harmonic during the 1st quarter worth about $132,000. Institutional investors and hedge funds own 99.38% of the company's stock.

Harmonic Stock Down 2.4%

NASDAQ:HLIT traded down $0.2150 during trading hours on Wednesday, hitting $8.7850. 275,759 shares of the company's stock traded hands, compared to its average volume of 1,163,649. The firm has a market cap of $999.38 million, a P/E ratio of 14.91 and a beta of 1.00. Harmonic Inc. has a twelve month low of $7.80 and a twelve month high of $15.46. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.58 and a current ratio of 1.99. The stock's fifty day moving average price is $9.11 and its two-hundred day moving average price is $9.46.

Harmonic (NASDAQ:HLIT - Get Free Report) last issued its 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 the consensus estimate of $134.90 million. Harmonic had a return on equity of 17.83% and a net margin of 9.96%.The business's quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 earnings per share. Harmonic has set its Q3 2025 guidance at 0.020-0.070 EPS. On average, research analysts expect that Harmonic Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HLIT. Rosenblatt Securities reissued a "buy" rating and set a $11.00 target price on shares of Harmonic in a research note on Tuesday, July 29th. Barclays reduced their price target on Harmonic from $10.00 to $8.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 29th. Wolfe Research initiated coverage on Harmonic in a research report on Tuesday, July 8th. They issued an "underperform" rating on the stock. Needham & Company LLC reduced their price target on Harmonic from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday, July 29th. Finally, Wall Street Zen lowered Harmonic from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $11.67.

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.