Legal & General Group Plc Purchases New Stake in Harmonic Inc. $HLIT

Legal & General Group Plc purchased a new position in shares of Harmonic Inc. (NASDAQ:HLIT) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 244,427 shares of the communications equipment provider’s stock, valued at approximately $3,991,000.

Several other large investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Harmonic during the 2nd quarter worth $49,000. iSAM Funds UK Ltd bought a new position in shares of Harmonic in the third quarter worth about $49,000. Global Retirement Partners LLC lifted its holdings in shares of 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 worth $71,000 after acquiring an additional 7,190 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Harmonic in the 1st quarter valued at approximately $75,000. Finally, Royal Bank of Canada grew its holdings in shares of Harmonic by 64.6% during the 4th quarter. Royal Bank of Canada now owns 7,645 shares of the communications equipment provider’s stock valued at $75,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 99.38% of the company’s stock.

Harmonic Stock Performance

Shares of HLIT stock opened at $11.78 on Friday. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -28.05 and a beta of 1.32. Harmonic Inc. has a 52 week low of $8.47 and a 52 week high of $17.68. The company has a quick ratio of 2.56, a current ratio of 3.05 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average of $12.60 and a 200-day moving average of $12.03.

Harmonic (NASDAQ:HLIT) last posted its quarterly earnings results on Wednesday, August 12th. The communications equipment provider reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.07. The business had revenue of $133.46 million during the quarter, compared to the consensus estimate of $120.89 million. Harmonic had a negative net margin of 8.50% and a positive return on equity of 10.91%. Harmonic’s revenue was up 53.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 EPS. Harmonic has set its Q3 2026 guidance at 0.150-0.190 EPS and its FY 2026 guidance at 0.670-0.750 EPS. On average, equities analysts forecast that Harmonic Inc. will post 0.53 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on HLIT. Jefferies Financial Group reissued a “hold” rating and set a $15.00 price objective on shares of Harmonic in a report on Tuesday, May 12th. Needham & Company LLC reiterated a “buy” rating on shares of Harmonic in a research report on Thursday, August 13th. Raymond James Financial reiterated an “outperform” rating and issued a $19.00 target price on shares of Harmonic in a research report on Thursday, August 13th. Barclays raised their price objective on shares of Harmonic from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Thursday, August 13th. Finally, Northland Securities set a $17.00 price target on shares of Harmonic in a research note on Thursday, August 13th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $17.50.

About Harmonic

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.