Harmonic Inc. $HLIT Shares Sold by Millennium Management LLC

Key Points

• Millennium Management LLC reduced its stake in Harmonic Inc. by 29.4%, now holding 3,331,146 shares valued at approximately $31.95 million as of the latest SEC filing.
• Various institutional investors have shown interest, with Principal Financial Group increasing its holdings by 2.8% and GAMMA Investing LLC experiencing a significant 415.7% increase in their shares during the first quarter.
• Harmonic's stock has received mixed reviews from analysts, with a consensus rating of "Hold" and an average price target of $11.67, despite shares being down 0.7% recently.

Millennium Management LLC lowered its position in Harmonic Inc. (NASDAQ:HLIT - Free Report) by 29.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,331,146 shares of the communications equipment provider's stock after selling 1,388,691 shares during the quarter. Millennium Management LLC owned approximately 2.95% of Harmonic worth $31,946,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp increased its holdings in Harmonic by 13.3% during the 4th quarter. Northern Trust Corp now owns 1,252,837 shares of the communications equipment provider's stock valued at $16,575,000 after purchasing an additional 147,274 shares in the last quarter. Balyasny Asset Management L.P. increased its position in shares of Harmonic by 35.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 91,281 shares of the communications equipment provider's stock valued at $1,208,000 after acquiring an additional 23,723 shares during the last quarter. Cresset Asset Management LLC acquired a new position in Harmonic during the fourth quarter worth approximately $133,000. D. E. Shaw & Co. Inc. grew its position in shares of Harmonic by 355.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 214,874 shares of the communications equipment provider's stock valued at $2,843,000 after purchasing an additional 167,660 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of Harmonic by 90.5% in the fourth quarter. Deutsche Bank AG now owns 125,205 shares of the communications equipment provider's stock valued at $1,656,000 after buying an additional 59,496 shares during the period. Institutional investors own 99.38% of the company's stock.

Wall Street Analysts Forecast Growth

HLIT has been the subject of several analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and set a $11.00 target price on shares of Harmonic in a research report on Tuesday, July 29th. Wall Street Zen lowered shares of Harmonic from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Wolfe Research assumed coverage on shares of Harmonic in a research note on Tuesday, July 8th. They issued an "underperform" rating for the company. Barclays cut their price target on shares of Harmonic from $10.00 to $8.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 29th. Finally, Needham & Company LLC decreased their price objective on shares of Harmonic from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday, July 29th. Four 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. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $11.67.

Harmonic Price Performance

Shares of NASDAQ:HLIT traded down $0.21 during midday trading on Friday, hitting $9.91. The company's stock had a trading volume of 704,169 shares, compared to its average volume of 1,009,623. Harmonic Inc. has a 12-month low of $7.80 and a 12-month high of $15.46. The company has a market cap of $1.13 billion, a P/E ratio of 16.80 and a beta of 1.01. The business's 50 day simple moving average is $9.24 and its 200 day simple moving average is $9.35. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.58 and a current ratio of 1.99.

Harmonic (NASDAQ:HLIT - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The communications equipment provider reported $0.09 EPS for the quarter, beating the consensus estimate of $0.03 by $0.06. Harmonic had a net margin of 9.96% and a return on equity of 17.83%. The business had revenue of $138.03 million during the quarter, compared to analyst estimates of $134.90 million. During the same quarter last year, the firm posted $0.08 earnings per share. The business'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. On average, 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.