Harmonic Inc. $HLIT Stake Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its position in shares of Harmonic Inc. (NASDAQ:HLIT) by 1.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 688,676 shares of the communications equipment provider’s stock after buying an additional 8,011 shares during the quarter. Bank of New York Mellon Corp’s holdings in Harmonic were worth $6,522,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in HLIT. Vanguard Group Inc. increased its position in shares of Harmonic by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 11,474,771 shares of the communications equipment provider’s stock valued at $110,043,000 after purchasing an additional 411,443 shares during the period. Invesco Ltd. boosted its stake in Harmonic by 3.8% during the first quarter. Invesco Ltd. now owns 8,081,298 shares of the communications equipment provider’s stock valued at $77,500,000 after buying an additional 292,584 shares in the last quarter. Alyeska Investment Group L.P. grew its holdings in Harmonic by 310.1% during the first quarter. Alyeska Investment Group L.P. now owns 3,077,776 shares of the communications equipment provider’s stock worth $29,516,000 after acquiring an additional 2,327,272 shares during the period. Alliancebernstein L.P. raised its position in Harmonic by 21.9% in the first quarter. Alliancebernstein L.P. now owns 2,615,121 shares of the communications equipment provider’s stock worth $25,079,000 after acquiring an additional 469,764 shares in the last quarter. Finally, Systematic Financial Management LP raised its position in Harmonic by 1.9% in the first quarter. Systematic Financial Management LP now owns 1,137,980 shares of the communications equipment provider’s stock worth $10,913,000 after acquiring an additional 21,369 shares in the last quarter. 99.38% of the stock is currently owned by institutional investors and hedge funds.

Harmonic Stock Up 0.2%

Shares of Harmonic stock opened at $8.87 on Friday. Harmonic Inc. has a 1 year low of $7.80 and a 1 year high of $13.75. The company has a market cap of $995.51 million, a P/E ratio of 15.03 and a beta of 1.04. 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 stock has a 50-day moving average price of $10.14 and a 200 day moving average price of $9.56.

Harmonic (NASDAQ:HLIT) last issued its earnings results on Monday, November 3rd. The communications equipment provider reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. The company had revenue of $142.38 million for the quarter, compared to the consensus estimate of $127.94 million. Harmonic had a return on equity of 17.83% and a net margin of 9.96%.The firm’s quarterly revenue was down 27.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 EPS. Harmonic has set its Q4 2025 guidance at 0.060-0.120 EPS. As a group, analysts expect that Harmonic Inc. will post 0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on HLIT shares. Barclays raised their price objective on shares of Harmonic from $8.00 to $11.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. Needham & Company LLC lifted their price target on shares of Harmonic from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Wall Street Zen downgraded Harmonic from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Rosenblatt Securities reissued a “buy” rating and set a $14.00 price objective on shares of Harmonic in a research note on Tuesday, November 4th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Harmonic in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $13.13.

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.