Harmonic Inc. $HLIT Shares Sold by Trigran Investments Inc.

Key Points

• Trigran Investments Inc. reduced its stake in Harmonic Inc. by 17.8%, owning approximately 4.09 million shares worth $39.24 million, which is about 5.8% of its investment portfolio.
• Harmonic's stock has a market cap of $1.02 billion with a recent price opening at $8.97, and it has a 52-week trading range between $7.80 and $15.46.
• The company's latest earnings report showed a profit of $0.09 per share, exceeding expectations, and revenue of $138.03 million, although down 0.5% year-over-year.

Trigran Investments Inc. trimmed its position in shares of Harmonic Inc. (NASDAQ:HLIT - Free Report) by 17.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,091,668 shares of the communications equipment provider's stock after selling 887,626 shares during the quarter. Harmonic accounts for approximately 5.8% of Trigran Investments Inc.'s investment portfolio, making the stock its 11th biggest position. Trigran Investments Inc. owned 3.62% of Harmonic worth $39,239,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quarry LP purchased a new position in Harmonic during the 4th quarter valued at about $33,000. Russell Investments Group Ltd. boosted its holdings in Harmonic by 5,388.1% during the 4th quarter. Russell Investments Group Ltd. now owns 5,543 shares of the communications equipment provider's stock valued at $73,000 after acquiring an additional 5,442 shares during the period. CWM LLC boosted its holdings in Harmonic by 132.6% during the 1st quarter. CWM LLC now owns 7,119 shares of the communications equipment provider's stock valued at $68,000 after acquiring an additional 4,058 shares during the period. GAMMA Investing LLC boosted its holdings in Harmonic by 415.7% during the 1st quarter. GAMMA Investing LLC now owns 8,612 shares of the communications equipment provider's stock valued at $898,000 after acquiring an additional 6,942 shares during the period. Finally, Cresset Asset Management LLC purchased a new position in Harmonic during the 4th quarter valued at about $133,000. 99.38% of the stock is currently owned by hedge funds and other institutional investors.

Harmonic Stock Down 2.7%

HLIT traded down $0.24 on Wednesday, reaching $8.76. The company's stock had a trading volume of 776,424 shares, compared to its average volume of 1,166,847. The stock has a 50 day moving average of $9.11 and a two-hundred day moving average of $9.46. The company has a quick ratio of 1.58, a current ratio of 1.99 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $996.54 million, a price-to-earnings ratio of 14.85 and a beta of 1.00. Harmonic Inc. has a fifty-two week low of $7.80 and a fifty-two week high of $15.46.

Harmonic (NASDAQ:HLIT - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $138.03 million during 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%.The firm's quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.08 earnings per share. Harmonic has set its Q3 2025 guidance at 0.020-0.070 EPS. As a group, analysts forecast that Harmonic Inc. will post 0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on HLIT. Needham & Company LLC lowered their target price on Harmonic from $14.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday, July 29th. Wolfe Research began coverage on Harmonic in a research report on Tuesday, July 8th. They issued an "underperform" rating on the stock. Rosenblatt Securities restated a "buy" rating and set a $11.00 target price on shares of Harmonic in a research note on Tuesday, July 29th. Wall Street Zen cut shares of Harmonic from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Barclays reduced their target price 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. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $11.67.

About Harmonic

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.