Legal & General Group Plc Purchases Shares of 244,427 Harmonic Inc. $HLIT

Key Points

• Legal & General Group Plc acquired 244,427 Harmonic shares worth approximately $3.99 million, giving it a 0.23% stake. Institutional investors and hedge funds collectively own 99.38% of HLIT.
• Harmonic exceeded quarterly expectations, reporting $0.24 EPS versus the $0.17 consensus and $133.46 million in revenue, up 53.5% year over year. The company issued third-quarter 2026 EPS guidance of $0.15–$0.19.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $17.50, compared with the stock’s recent price of $11.78.

Legal & General Group Plc acquired a new position in shares of Harmonic Inc. (NASDAQ:HLIT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 244,427 shares of the communications equipment provider's stock, valued at approximately $3,991,000. Legal & General Group Plc owned approximately 0.23% of Harmonic as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in HLIT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Harmonic by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,664 shares of the communications equipment provider's stock worth $630,000 after purchasing an additional 2,853 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Harmonic by 9.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 353,538 shares of the communications equipment provider's stock worth $3,390,000 after purchasing an additional 31,276 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Harmonic by 978.5% in the 1st quarter. Jane Street Group LLC now owns 247,480 shares of the communications equipment provider's stock valued at $2,373,000 after purchasing an additional 224,534 shares during the period. American Century Companies Inc. raised its stake in shares of Harmonic by 239.3% in the 2nd quarter. American Century Companies Inc. now owns 110,892 shares of the communications equipment provider's stock valued at $1,050,000 after purchasing an additional 78,214 shares during the period. Finally, Norges Bank bought a new stake in shares of Harmonic in the second quarter valued at about $1,426,000. 99.38% of the stock is currently owned by institutional investors and hedge funds.

Harmonic Trading Up 1.6%

Shares of NASDAQ:HLIT opened at $11.78 on Friday. Harmonic Inc. has a 12-month low of $8.47 and a 12-month high of $17.68. The business has a 50 day moving average of $12.60 and a 200-day moving average of $12.03. The company has a quick ratio of 2.56, a current ratio of 3.05 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.28 billion, a PE ratio of -28.05 and a beta of 1.32.

Harmonic (NASDAQ:HLIT - Get Free Report) last announced its earnings results on Wednesday, August 12th. The communications equipment provider reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.07. Harmonic had a positive return on equity of 10.91% and a negative net margin of 8.50%.The company had revenue of $133.46 million for the quarter, compared to analyst estimates of $120.89 million. During the same quarter last year, the company earned $0.09 earnings per share. The firm's quarterly revenue was up 53.5% compared to the same quarter last year. Harmonic has set its Q3 2026 guidance at 0.150-0.190 EPS and its FY 2026 guidance at 0.670-0.750 EPS. As a group, equities research analysts forecast that Harmonic Inc. will post 0.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HLIT. Jefferies Financial Group reiterated a "hold" rating and issued a $15.00 price objective on shares of Harmonic in a report on Tuesday, May 12th. Northland Securities set a $17.00 price objective on shares of Harmonic in a research note on Thursday, August 13th. Needham & Company LLC restated a "buy" rating on shares of Harmonic in a report on Thursday, August 13th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $20.00 target price on shares of Harmonic in a research report on Thursday, August 13th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $19.00 target price on shares of Harmonic in a report on Thursday, August 13th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Harmonic presently has an average rating of "Hold" and an average target price of $17.50.

Harmonic Company Profile

Harmonic Inc NASDAQ: HLIT is a leading provider of video delivery infrastructure that enables service providers, broadcasters and content owners to capture, process and distribute high‐quality video across broadcast, cable, satellite and IP networks. The company's portfolio spans real‐time video compression solutions, including encoders and transcoders, as well as storage and server products designed for live production, playout and streaming on any device.

Harmonic's product lines include cable edge QAM modules and set‐top video processing platforms for traditional pay‐TV operators, alongside cloud‐native software for over‐the‐top (OTT) delivery, origin servers and content delivery network (CDN) services.

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