56,003 Shares in Harmonic Inc. $HLIT Purchased by Summit Global Investments

Summit Global Investments bought a new position in Harmonic Inc. (NASDAQ:HLIT) in the second quarter, HoldingsChannel reports. The fund bought 56,003 shares of the communications equipment provider’s stock, valued at approximately $915,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Harmonic by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 12,022,963 shares of the communications equipment provider’s stock worth $118,907,000 after purchasing an additional 148,281 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Harmonic by 120.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,052,927 shares of the communications equipment provider’s stock worth $9,455,000 after purchasing an additional 575,800 shares during the period. Econ Financial Services Corp purchased a new position in shares of Harmonic in the first quarter worth approximately $885,000. Principal Financial Group Inc. grew its position in Harmonic by 31.0% during the first quarter. Principal Financial Group Inc. now owns 701,151 shares of the communications equipment provider’s stock valued at $6,296,000 after buying an additional 165,794 shares during the period. Finally, LSV Asset Management raised its position in Harmonic by 799.2% in the fourth quarter. LSV Asset Management now owns 114,200 shares of the communications equipment provider’s stock worth $1,129,000 after acquiring an additional 101,500 shares during the period. Hedge funds and other institutional investors own 99.38% of the company’s stock.

Wall Street Analyst Weigh In

HLIT has been the subject of several analyst reports. Jefferies Financial Group reissued a “hold” rating and issued a $15.00 target price on shares of Harmonic in a report on Tuesday, May 12th. Raymond James Financial reissued an “outperform” rating and issued a $19.00 price objective on shares of Harmonic in a research note on Thursday. Rosenblatt Securities restated a “buy” rating and set a $20.00 target price on shares of Harmonic in a research note on Thursday. Zacks Research lowered Harmonic from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 24th. Finally, Weiss Ratings upgraded Harmonic from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, July 17th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $17.50.

Harmonic Stock Performance

Shares of NASDAQ:HLIT opened at $13.92 on Friday. Harmonic Inc. has a 52 week low of $8.47 and a 52 week high of $17.68. The stock has a market capitalization of $1.51 billion, a P/E ratio of -33.14 and a beta of 1.32. The firm has a fifty day simple moving average of $13.32 and a two-hundred day simple moving average of $11.80. The company has a quick ratio of 2.03, a current ratio of 3.05 and a debt-to-equity ratio of 0.30.

Harmonic News Roundup

Here are the key news stories impacting Harmonic this week:

• Positive Sentiment: Q2 earnings and revenue beat expectations. Harmonic reported adjusted earnings of $0.24 per share, up from $0.09 a year earlier and above the analyst consensus of $0.17. Revenue also surpassed expectations, reinforcing the positive market reaction. Harmonic Q2 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Rosenblatt reaffirmed its Buy rating and $20 price target, implying substantial potential upside from recent trading levels. The endorsement may support investor confidence following the earnings beat. Rosenblatt Buy Rating and Price Target
• Positive Sentiment: Unusually high call-option activity indicated increased speculative or bullish interest in Harmonic. Investors purchased roughly 3,305 call options, about 50% above typical daily volume, although options activity does not guarantee sustained buying.
• Neutral Sentiment: Jefferies maintained its Hold rating, suggesting the firm sees balanced risk and reward despite the recent earnings strength. Jefferies Keeps Hold Rating on Harmonic
• Neutral Sentiment: Harmonic plans to meet investors at the Jefferies Semiconductor, IT Hardware & Communications Technology Conference on August 25. The event could provide additional details on outlook and strategy, but the announcement itself does not change fundamentals. Harmonic Investor Conference Announcement
• Negative Sentiment: Harmonic delayed its quarterly 10-Q filing after submitting a Form 12b-25. The delay is reportedly connected to the company’s business sale and related reporting work, but investors may remain cautious until the filing provides complete financial and transaction details. Harmonic Delays Its Next 10-Q Filing

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.