Needham Investment Management LLC Has $5.42 Million Holdings in Harmonic Inc. $HLIT

Key Points

• Needham Investment Management LLC reduced its stake in Harmonic Inc. by 13.1%, owning 565,000 shares valued at approximately $5.4 million after selling 85,000 shares in the first quarter.
• Harmonic reported earnings of $0.09 per share for the last quarter, exceeding analyst expectations of $0.03, but revenues declined by 0.5% year-over-year to $138.03 million.
• Wall Street analysts show mixed ratings for Harmonic, with four having a "Buy," two a "Hold," and one a "Sell," as the stock's average price target is now set at $11.67.

Needham Investment Management LLC reduced its stake in shares of Harmonic Inc. (NASDAQ:HLIT - Free Report) by 13.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 565,000 shares of the communications equipment provider's stock after selling 85,000 shares during the period. Needham Investment Management LLC owned 0.50% of Harmonic worth $5,418,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Northern Trust Corp grew its position in shares of Harmonic by 13.3% in the fourth 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 during the last quarter. AQR Capital Management LLC grew its position in shares of Harmonic by 4.9% in the fourth quarter. AQR Capital Management LLC now owns 355,773 shares of the communications equipment provider's stock valued at $4,707,000 after purchasing an additional 16,726 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its position in shares of Harmonic by 133.9% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 66,230 shares of the communications equipment provider's stock valued at $876,000 after purchasing an additional 37,914 shares during the last quarter. Balyasny Asset Management L.P. grew 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 purchasing an additional 23,723 shares during the last quarter. Finally, Bridgefront Capital LLC grew its position in shares of Harmonic by 30.2% in the fourth quarter. Bridgefront Capital LLC now owns 13,703 shares of the communications equipment provider's stock valued at $181,000 after purchasing an additional 3,178 shares during the last quarter. 99.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HLIT. Wolfe Research began coverage on Harmonic in a research report on Tuesday, July 8th. They issued 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 on the stock in a research report on Tuesday, July 29th. Rosenblatt Securities reissued a "buy" rating and set a $11.00 target price on shares of Harmonic in a research report on Tuesday, July 29th. Barclays decreased their target price 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. Finally, Wall Street Zen downgraded 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 issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $11.67.

Harmonic Price Performance

Shares of HLIT traded up $0.34 on Thursday, hitting $10.18. The company's stock had a trading volume of 328,273 shares, compared to its average volume of 1,157,708. The company has a market capitalization of $1.16 billion, a PE ratio of 17.25 and a beta of 1.01. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.99 and a quick ratio of 1.58. Harmonic Inc. has a fifty-two week low of $7.80 and a fifty-two week high of $15.46. The company has a 50 day moving average price of $9.24 and a 200 day moving average price of $9.36.

Harmonic (NASDAQ:HLIT - Get Free Report) last announced its earnings results on Monday, July 28th. The communications equipment provider reported $0.09 EPS for the quarter, topping the consensus estimate of $0.03 by $0.06. The business 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%.Harmonic's revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 EPS. Harmonic has set its Q3 2025 guidance at 0.020-0.070 EPS. On average, research analysts anticipate that Harmonic Inc. will post 0.31 earnings per share for the current fiscal 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.