Walleye Capital LLC Acquires New Position in Harmonic Inc. $HLIT

Key Points

• Walleye Capital LLC acquired a new position in Harmonic Inc. (NASDAQ:HLIT) during the first quarter, purchasing 53,619 shares valued at approximately $514,000.
• Institutional investors control 99.38% of Harmonic's shares, with Vanguard Group increasing its stake by 3.7% to hold over $110 million in shares.
• Harmonic recently reported earnings exceeding estimates, with a net margin of 9.96% and guidance for Q3 2025 EPS ranging from 0.020 to 0.070.

Walleye Capital LLC bought a new position in Harmonic Inc. (NASDAQ:HLIT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 53,619 shares of the communications equipment provider's stock, valued at approximately $514,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Harmonic by 3.7% in the first quarter. Vanguard Group Inc. now owns 11,474,771 shares of the communications equipment provider's stock worth $110,043,000 after acquiring an additional 411,443 shares during the last quarter. Invesco Ltd. grew its stake in Harmonic by 3.8% in the first quarter. Invesco Ltd. now owns 8,081,298 shares of the communications equipment provider's stock valued at $77,500,000 after purchasing an additional 292,584 shares in the last quarter. Millennium Management LLC increased its position in Harmonic by 9,004.4% in the 4th quarter. Millennium Management LLC now owns 4,719,837 shares of the communications equipment provider's stock worth $62,443,000 after purchasing an additional 4,667,996 shares during the last quarter. Northern Trust Corp raised its stake in shares of Harmonic by 13.3% during the 4th quarter. Northern Trust Corp now owns 1,252,837 shares of the communications equipment provider's stock worth $16,575,000 after purchasing an additional 147,274 shares in the last quarter. Finally, Systematic Financial Management LP raised its stake in shares of Harmonic by 1.9% during the 1st quarter. Systematic Financial Management LP now owns 1,137,980 shares of the communications equipment provider's stock worth $10,913,000 after purchasing an additional 21,369 shares in the last quarter. Institutional investors and hedge funds own 99.38% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on HLIT shares. Needham & Company LLC lowered 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. Wolfe Research started coverage on shares of Harmonic in a research report on Tuesday, July 8th. They issued an "underperform" rating for the company. Rosenblatt Securities restated a "buy" rating and set a $11.00 price target on shares of Harmonic in a report on Tuesday, July 29th. Barclays reduced 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 note on Tuesday, July 29th. Finally, Wall Street Zen downgraded shares of Harmonic from a "buy" rating to a "hold" rating in a research report 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 company's stock. According to MarketBeat.com, Harmonic has a consensus rating of "Hold" and a consensus target price of $11.67.

Harmonic Price Performance

Shares of Harmonic stock opened at $9.62 on Tuesday. The company has a current ratio of 1.99, a quick ratio of 1.58 and a debt-to-equity ratio of 0.27. The firm has a fifty day simple moving average of $9.19 and a 200-day simple moving average of $9.37. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 16.31 and a beta of 1.01. Harmonic Inc. has a 1-year low of $7.80 and a 1-year high of $15.46.

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 firm had revenue of $138.03 million for the quarter, compared to the consensus estimate of $134.90 million. Harmonic had a net margin of 9.96% and a return on equity of 17.83%. The business's quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm posted $0.08 EPS. Harmonic has set its Q3 2025 guidance at 0.020-0.070 EPS. On average, sell-side analysts expect that Harmonic Inc. will post 0.31 earnings per share for the current year.

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.

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