Wellington Management Group LLP Sells 1,015,641 Shares of Harmonic Inc. $HLIT

Key Points

• Wellington Management Group LLP reduced its stake in Harmonic Inc. by 52.8% in Q1, now holding $8.7 million worth of shares.
• Harmonic reported $0.09 earnings per share for the last quarter, exceeding analysts' expectations of $0.03, despite a year-over-year revenue decline of 0.5%.
• Several analysts have downgraded Harmonic's stock, with the average rating now at "Hold" and a price target of $11.67.

Wellington Management Group LLP cut its position in shares of Harmonic Inc. (NASDAQ:HLIT - Free Report) by 52.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 907,218 shares of the communications equipment provider's stock after selling 1,015,641 shares during the quarter. Wellington Management Group LLP owned approximately 0.80% of Harmonic worth $8,700,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Quarry LP bought a new position in shares of Harmonic during the 4th quarter valued at about $33,000. CWM LLC grew its position in Harmonic by 132.6% during the 1st 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 bought a new position in Harmonic during the 1st quarter worth approximately $111,000. Cresset Asset Management LLC grew its position in Harmonic by 16.5% during the 1st 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 bought a new position in Harmonic during the 1st quarter worth approximately $114,000. 99.38% of the stock is currently owned by institutional investors.

Harmonic Stock Down 0.2%

NASDAQ:HLIT traded down $0.02 during trading hours on Tuesday, reaching $9.60. 1,267,704 shares of the company traded hands, compared to its average volume of 1,060,753. 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 business's 50-day moving average price is $9.19 and its two-hundred day moving average price is $9.37. Harmonic Inc. has a 1 year low of $7.80 and a 1 year high of $15.46. The stock has a market capitalization of $1.09 billion, a P/E ratio of 16.27 and a beta of 1.01.

Harmonic (NASDAQ:HLIT - Get Free Report) last released 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. Harmonic had a return on equity of 17.83% and a net margin of 9.96%.The business 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 company posted $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. Analysts predict that Harmonic Inc. will post 0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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