Trexquant Investment LP Purchases 290,112 Shares of Harmonic Inc. $HLIT

Key Points

• Trexquant Investment LP significantly increased its holdings in Harmonic Inc. by 246.5% in the first quarter, now owning 407,815 shares valued at approximately $3.9 million.
• Multiple hedge funds have also expanded their positions in Harmonic, with notable increases by Arizona State Retirement System (4.2%) and Cresset Asset Management (16.5%) in the same period.
• Analysts have mixed ratings on Harmonic, with a consensus of "Hold" and a price target of $11.67, while some rates have been downgraded from "Buy" to "Hold."

Trexquant Investment LP boosted its position in Harmonic Inc. (NASDAQ:HLIT - Free Report) by 246.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 407,815 shares of the communications equipment provider's stock after purchasing an additional 290,112 shares during the period. Trexquant Investment LP owned about 0.36% of Harmonic worth $3,911,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of HLIT. Quarry LP acquired a new stake in Harmonic during the fourth quarter worth approximately $33,000. CWM LLC lifted its position in Harmonic by 132.6% during the first 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 during the last quarter. Drive Wealth Management LLC acquired a new stake in Harmonic during the first quarter worth approximately $111,000. Cresset Asset Management LLC lifted its position in Harmonic by 16.5% during the first quarter. Cresset Asset Management LLC now owns 11,721 shares of the communications equipment provider's stock worth $112,000 after acquiring an additional 1,660 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in Harmonic during the first quarter worth approximately $114,000. 99.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Harmonic Price Performance

NASDAQ:HLIT traded up $0.15 during mid-day trading on Thursday, reaching $9.92. The stock had a trading volume of 1,183,769 shares, compared to its average volume of 1,173,195. The stock has a 50-day simple moving average of $9.20 and a two-hundred day simple moving average of $9.38. The stock has a market capitalization of $1.13 billion, a PE ratio of 16.81 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 12 month low of $7.80 and a 12 month high of $15.46.

Harmonic (NASDAQ:HLIT - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.06. The business had revenue of $138.03 million for the quarter, compared to analysts' expectations of $134.90 million. Harmonic had a net margin of 9.96% and a return on equity of 17.83%. The firm's quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the firm posted $0.08 earnings per share. Harmonic has set its Q3 2025 guidance at 0.020-0.070 EPS. On average, equities analysts anticipate that Harmonic Inc. will post 0.31 earnings per share 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.