Janney Montgomery Scott LLC Makes New Investment in Harmonic Inc. $HLIT

Key Points

• Janney Montgomery Scott LLC has made a new investment in Harmonic Inc. by acquiring 43,802 shares valued at approximately $415,000.
• Analysts have mixed ratings on Harmonic, with four giving it a Buy rating and three assigning a Hold rating, resulting in an average target price of $12.17.
• Harmonic recently reported earnings that exceeded analysts' expectations with a net margin of 9.96%, but its revenue decreased by 0.5% compared to the previous year.

Janney Montgomery Scott LLC bought a new stake in Harmonic Inc. (NASDAQ:HLIT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 43,802 shares of the communications equipment provider's stock, valued at approximately $415,000.

Other institutional investors have also modified their holdings of the company. CWM LLC raised its stake in shares of Harmonic by 132.6% in the 1st 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 in the last quarter. Drive Wealth Management LLC acquired a new stake in shares of Harmonic in the 1st quarter valued at about $111,000. Cresset Asset Management LLC raised its stake in shares of 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 purchasing an additional 1,660 shares in the last quarter. Significant Wealth Partners LLC acquired a new stake in shares of Harmonic in the 2nd quarter valued at about $112,000. Finally, Virtu Financial LLC acquired a new stake in shares of Harmonic in the 1st quarter valued at about $114,000. Institutional investors and hedge funds own 99.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Rosenblatt Securities upped their target price on shares of Harmonic from $11.00 to $14.00 and gave the company a "buy" rating in a research note on Wednesday, October 1st. Wolfe Research assumed coverage on shares of Harmonic in a research note on Tuesday, July 8th. They set an "underperform" rating on the stock. Needham & Company LLC decreased their target price on Harmonic from $14.00 to $12.00 and set a "buy" rating for the company in a research note on Tuesday, July 29th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Harmonic in a report on Wednesday, October 8th. Finally, Wall Street Zen cut Harmonic from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Four analysts have rated the stock with a Buy rating, three have assigned 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 an average price target of $12.17.

Harmonic Price Performance

Shares of NASDAQ:HLIT opened at $10.20 on Friday. Harmonic Inc. has a 52 week low of $7.80 and a 52 week high of $15.46. 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 firm has a market capitalization of $1.16 billion, a P/E ratio of 17.29 and a beta of 1.01. The firm's 50 day moving average is $9.83 and its two-hundred day moving average is $9.36.

Harmonic (NASDAQ:HLIT - Get Free Report) last released its earnings results on Monday, July 28th. The communications equipment provider reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $134.90 million. During the same period in the prior year, the firm posted $0.08 earnings per share. The firm's revenue for the quarter was down .5% compared to the same quarter last year. Harmonic has set its Q3 2025 guidance at 0.020-0.070 EPS. Analysts anticipate that Harmonic Inc. will post 0.31 earnings per share for the current 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.

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