Corebridge Financial Inc. Has $555,000 Stock Position in Harmonic Inc. $HLIT

Corebridge Financial Inc. trimmed its holdings in shares of Harmonic Inc. (NASDAQ:HLIT) by 1.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,895 shares of the communications equipment provider’s stock after selling 1,131 shares during the period. Corebridge Financial Inc. owned approximately 0.05% of Harmonic worth $555,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. CWM LLC increased its position in Harmonic by 132.6% in the 1st quarter. CWM LLC now owns 7,119 shares of the communications equipment provider’s stock worth $68,000 after purchasing an additional 4,058 shares during the last quarter. Drive Wealth Management LLC bought a new stake in Harmonic during the 1st quarter valued at approximately $111,000. Cresset Asset Management LLC lifted its position in shares of Harmonic by 16.5% in 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 period. Virtu Financial LLC bought a new stake in shares of Harmonic in the 1st quarter worth approximately $114,000. Finally, Mackenzie Financial Corp bought a new stake in shares of Harmonic in the 1st quarter worth approximately $132,000. 99.38% of the stock is owned by institutional investors and hedge funds.

Harmonic Stock Performance

HLIT opened at $10.04 on Monday. The business’s 50-day moving average price is $9.22 and its two-hundred day moving average price is $9.35. Harmonic Inc. has a 1 year low of $7.80 and a 1 year high of $15.46. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 17.02 and a beta of 1.01. 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 (NASDAQ:HLIT) last released its quarterly earnings results on Monday, July 28th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $138.03 million for the quarter, compared to the consensus estimate of $134.90 million. During the same quarter last year, the business posted $0.08 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. Harmonic has set its Q3 2025 guidance at 0.020-0.070 EPS. Equities analysts expect that Harmonic Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on HLIT shares. Wall Street Zen cut Harmonic from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Wolfe Research started coverage on Harmonic in a report on Tuesday, July 8th. They set an “underperform” rating for the company. Needham & Company LLC lowered their target price on Harmonic from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, July 29th. Rosenblatt Securities reissued a “buy” rating and issued a $11.00 target price on shares of Harmonic in a research note on Tuesday, July 29th. Finally, 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. 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. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target 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.