Rhumbline Advisers Sells 3,626 Shares of Harmonic Inc. $HLIT

Rhumbline Advisers decreased its holdings in shares of Harmonic Inc. (NASDAQ:HLIT) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 308,325 shares of the communications equipment provider’s stock after selling 3,626 shares during the quarter. Rhumbline Advisers owned about 0.27% of Harmonic worth $2,957,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Intech Investment Management LLC boosted its stake in Harmonic by 24.4% during the 1st quarter. Intech Investment Management LLC now owns 548,876 shares of the communications equipment provider’s stock valued at $5,264,000 after purchasing an additional 107,520 shares during the period. Jane Street Group LLC boosted its stake in Harmonic by 978.5% during the 1st quarter. Jane Street Group LLC now owns 247,480 shares of the communications equipment provider’s stock valued at $2,373,000 after purchasing an additional 224,534 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Harmonic by 9.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 353,538 shares of the communications equipment provider’s stock valued at $3,390,000 after purchasing an additional 31,276 shares during the period. Dean Capital Management boosted its stake in Harmonic by 51.3% during the 1st quarter. Dean Capital Management now owns 145,075 shares of the communications equipment provider’s stock valued at $1,391,000 after purchasing an additional 49,202 shares during the period. Finally, Clearline Capital LP boosted its stake in Harmonic by 24.1% during the 1st quarter. Clearline Capital LP now owns 599,778 shares of the communications equipment provider’s stock valued at $5,752,000 after purchasing an additional 116,661 shares during the period. Institutional investors own 99.38% of the company’s stock.

Wall Street Analyst Weigh In

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

Harmonic Trading Up 0.9%

Shares of HLIT opened at $10.00 on Tuesday. Harmonic Inc. has a 1 year low of $7.80 and a 1 year high of $15.46. 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 simple moving average of $9.24 and a 200-day simple moving average of $9.34. The stock has a market cap of $1.14 billion, a PE ratio of 16.95 and a beta of 1.01.

Harmonic (NASDAQ:HLIT) last released 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 during the quarter, compared to analysts’ expectations of $134.90 million. During the same period last year, the firm posted $0.08 EPS. The business’s revenue was down .5% on a year-over-year basis. 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.

Harmonic 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.