Voya Investment Management LLC Grows Position in Harmonic Inc. $HLIT

Key Points

• Voya Investment Management LLC has increased its stake in Harmonic Inc. by 44.7%, owning 98,457 shares worth approximately $944,000 as of its latest SEC filing.
• Harmonic Inc. reported earnings per share of $0.09 for the last quarter, surpassing analysts' expectations of $0.03, despite a 0.5% decline in revenue compared to the previous year.
• Several analysts have amended their price targets for Harmonic, with Barclays lowering theirs from $10.00 to $8.00, while Needham & Company LLC set a new target at $12.00 with a "buy" rating.

Voya Investment Management LLC increased its position in shares of Harmonic Inc. (NASDAQ:HLIT - Free Report) by 44.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 98,457 shares of the communications equipment provider's stock after buying an additional 30,398 shares during the quarter. Voya Investment Management LLC owned about 0.09% of Harmonic worth $944,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Inspire Investing LLC grew its stake in Harmonic by 181.7% during the 1st quarter. Inspire Investing LLC now owns 84,930 shares of the communications equipment provider's stock worth $814,000 after buying an additional 54,776 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Harmonic in the 1st quarter valued at approximately $728,000. EP Wealth Advisors LLC purchased a new position in shares of Harmonic in the 1st quarter valued at approximately $223,000. Principal Financial Group Inc. grew its stake in shares of Harmonic by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 583,943 shares of the communications equipment provider's stock valued at $5,600,000 after purchasing an additional 15,756 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Harmonic by 415.7% in the 1st quarter. GAMMA Investing LLC now owns 8,612 shares of the communications equipment provider's stock valued at $898,000 after purchasing an additional 6,942 shares during the last quarter. Hedge funds and other institutional investors own 99.38% of the company's stock.

Harmonic Stock Down 2.7%

Harmonic stock opened at $9.89 on Thursday. 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 1-year low of $7.80 and a 1-year high of $15.46. The company has a market cap of $1.13 billion, a PE ratio of 16.76 and a beta of 1.01. The stock's 50 day moving average price is $9.37 and its 200 day moving average price is $9.34.

Harmonic (NASDAQ:HLIT - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The communications equipment provider reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.06. Harmonic had a return on equity of 17.83% and a net margin of 9.96%.The firm had revenue of $138.03 million for the quarter, compared to the consensus estimate of $134.90 million. During the same period in the previous year, the business earned $0.08 earnings per share. The company'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, sell-side analysts predict that Harmonic Inc. will post 0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on HLIT shares. Barclays lowered their target price on Harmonic from $10.00 to $8.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 29th. Wolfe Research started coverage on Harmonic in a research note on Tuesday, July 8th. They issued an "underperform" rating on the stock. Needham & Company LLC lowered their target price on Harmonic from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Tuesday, July 29th. Rosenblatt Securities reiterated a "buy" rating and issued a $11.00 target price on shares of Harmonic in a research note on Tuesday, July 29th. Finally, Wall Street Zen downgraded Harmonic from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $11.67.

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.

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