Squarepoint Ops LLC increased its holdings in shares of Harmonic Inc. (NASDAQ:HLIT – Free Report) by 486.9% in the second quarter, Holdings Channel reports. The firm owned 344,782 shares of the communications equipment provider’s stock after acquiring an additional 286,038 shares during the period. Squarepoint Ops LLC’s holdings in Harmonic were worth $5,630,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Nykredit A S acquired a new stake in shares of Harmonic in the second quarter worth $36,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Harmonic during the 2nd quarter worth $49,000. iSAM Funds UK Ltd acquired a new stake in Harmonic in the 3rd quarter valued at $49,000. Global Retirement Partners LLC raised its position in Harmonic by 23,193.5% in the fourth quarter. Global Retirement Partners LLC now owns 7,221 shares of the communications equipment provider’s stock valued at $71,000 after purchasing an additional 7,190 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Harmonic in the first quarter valued at about $75,000. 99.38% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
HLIT has been the subject of several analyst reports. Wall Street Zen downgraded Harmonic from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Needham & Company LLC reiterated a “buy” rating on shares of Harmonic in a report on Thursday, August 13th. Barclays boosted their price target on Harmonic from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Harmonic in a research report on Thursday, August 13th. Finally, Zacks Research lowered shares of Harmonic from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 24th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.50.
Harmonic Stock Up 3.1%
Shares of NASDAQ HLIT opened at $12.00 on Friday. Harmonic Inc. has a 1 year low of $8.47 and a 1 year high of $17.68. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -28.57 and a beta of 1.32. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.56 and a current ratio of 3.05. The stock’s 50-day simple moving average is $12.27 and its 200-day simple moving average is $12.07.
Harmonic (NASDAQ:HLIT – Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The communications equipment provider reported $0.24 EPS for the quarter, topping the consensus estimate of $0.17 by $0.07. The business had revenue of $133.46 million for the quarter, compared to analysts’ expectations of $120.89 million. Harmonic had a positive return on equity of 10.91% and a negative net margin of 8.50%.The company’s revenue was up 53.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 earnings per share. Harmonic has set its Q3 2026 guidance at 0.150-0.190 EPS and its FY 2026 guidance at 0.670-0.750 EPS. As a group, equities analysts anticipate that Harmonic Inc. will post 0.53 earnings per share for the current fiscal year.
Harmonic Company Profile
Harmonic Inc (NASDAQ:HLIT) is a leading provider of video delivery infrastructure that enables service providers, broadcasters and content owners to capture, process and distribute high‐quality video across broadcast, cable, satellite and IP networks. The company’s portfolio spans real‐time video compression solutions, including encoders and transcoders, as well as storage and server products designed for live production, playout and streaming on any device.
Harmonic’s product lines include cable edge QAM modules and set‐top video processing platforms for traditional pay‐TV operators, alongside cloud‐native software for over‐the‐top (OTT) delivery, origin servers and content delivery network (CDN) services.
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