VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 111,300 Harmonic Inc. $HLIT

Key Points

• Virginia Retirement Systems bought 111,300 shares of Harmonic, valued at approximately $1.8 million, while institutional investors collectively own 99.38% of the company.
• Harmonic reported stronger-than-expected quarterly results, with EPS of $0.24 versus the $0.17 consensus estimate and revenue of $133.46 million, up 53.5% year over year.
• Analyst sentiment is mixed: the stock carries a consensus “Hold” rating and an average price target of $17.50, compared with its recent trading price near $12.00.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Harmonic Inc. (NASDAQ:HLIT - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm purchased 111,300 shares of the communications equipment provider's stock, valued at approximately $1,818,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.10% of Harmonic at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in HLIT. Renaissance Technologies LLC raised its holdings in Harmonic by 120.7% in the first quarter. Renaissance Technologies LLC now owns 1,052,927 shares of the communications equipment provider's stock worth $9,455,000 after purchasing an additional 575,800 shares in the last quarter. Lisanti Capital Growth LLC bought a new stake in shares of Harmonic in the 2nd quarter valued at about $2,327,000. BlackRock Inc. bought a new stake in shares of Harmonic in the 2nd quarter valued at about $294,012,000. Deutsche Bank AG purchased a new position in shares of Harmonic in the 2nd quarter worth approximately $1,937,000. Finally, Quantbot Technologies LP purchased a new position in shares of Harmonic in the 2nd quarter worth approximately $1,706,000. 99.38% of the stock is owned by institutional investors.

Harmonic Trading Up 3.1%

NASDAQ:HLIT opened at $12.00 on Friday. The company has a market capitalization of $1.31 billion, a P/E ratio of -28.57 and a beta of 1.32. The company has a current ratio of 3.05, a quick ratio of 2.56 and a debt-to-equity ratio of 0.30. Harmonic Inc. has a 12 month low of $8.47 and a 12 month high of $17.68. The firm has a fifty day simple moving average of $12.27 and a 200-day simple moving average of $12.07.

Harmonic (NASDAQ:HLIT - Get Free Report) last issued its earnings results on Wednesday, August 12th. The communications equipment provider reported $0.24 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $120.89 million. During the same quarter last year, the business posted $0.09 EPS. The firm's quarterly revenue was up 53.5% on a year-over-year basis. Harmonic has set its Q3 2026 guidance at 0.150-0.190 EPS and its FY 2026 guidance at 0.670-0.750 EPS. On average, equities research analysts anticipate that Harmonic Inc. will post 0.53 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Weiss Ratings raised shares of Harmonic from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, September 4th. Zacks Research lowered shares of Harmonic from a "strong-buy" rating to a "hold" rating in a report on Friday, July 24th. Wall Street Zen lowered Harmonic from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 1st. Barclays raised their price objective on Harmonic from $15.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 13th. Finally, Raymond James Financial restated an "outperform" rating and set a $19.00 target price on shares of Harmonic in a research note on Thursday, August 13th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $17.50.

Harmonic 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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