BlackRock Amends Harmonic Inc. Stake to 10.0%
Ticker: HLIT · Form: SC 13G/A · Filed: Jan 22, 2024 · CIK: 851310
| Field | Detail |
|---|---|
| Company | Harmonic Inc (HLIT) |
| Form Type | SC 13G/A |
| Filed Date | Jan 22, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock still owns 10.0% of Harmonic Inc. as of year-end 2023, showing continued institutional interest.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 22, 2024, disclosing its ownership in Harmonic Inc. As of December 31, 2023, BlackRock beneficially owned 9,198,154 shares of Harmonic Inc. Common Stock, representing 10.0% of the company's outstanding shares. This is an amendment (Amendment No. 3) to their previous filings, indicating a change in their holdings. This matters to investors because BlackRock is a major institutional investor, and their significant stake and any changes in it can signal their confidence (or lack thereof) in Harmonic Inc.'s future performance.
Why It Matters
BlackRock's continued significant ownership of 10.0% in Harmonic Inc. signals strong institutional confidence, which can positively influence other investors and the stock's stability.
Risk Assessment
Risk Level: low — This filing indicates a stable, significant institutional ownership, which generally reduces volatility and provides a level of confidence.
Analyst Insight
An investor should note BlackRock's continued substantial stake in Harmonic Inc., which suggests long-term institutional confidence. While not a direct buy signal, it indicates a level of stability and professional endorsement. Further research into Harmonic Inc.'s financials and future prospects would be prudent.
Key Numbers
- 9,198,154 — Shares Beneficially Owned (Represents BlackRock's total stake in Harmonic Inc. as of December 31, 2023.)
- 10.0% — Percentage of Class (Indicates BlackRock's significant influence and investment in Harmonic Inc.)
- December 31, 2023 — Reporting Date (The snapshot date for the reported share ownership.)
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- Harmonic Inc. (company) — the subject company whose shares are being reported
- 9,198,154 (dollar_amount) — number of shares beneficially owned by BlackRock
- 10.0% (dollar_amount) — percentage of Harmonic Inc. shares beneficially owned by BlackRock
- December 31, 2023 (date) — the date of the event requiring this filing
- January 22, 2024 (date) — the filing date of the SC 13G/A
Forward-Looking Statements
- BlackRock will maintain a significant stake in Harmonic Inc. (BlackRock Inc.) — medium confidence, target: Q4 2024
- Harmonic Inc. stock price will remain relatively stable due to institutional backing. (Harmonic Inc.) — medium confidence, target: Q2 2024
FAQ
What is the purpose of this SC 13G/A filing by BlackRock Inc. regarding Harmonic Inc.?
This SC 13G/A is an amendment (Amendment No. 3) filed by BlackRock Inc. to update its beneficial ownership of Common Stock in Harmonic Inc. as of December 31, 2023, as required by Rule 13d-1(b) of the Securities Exchange Act of 1934.
How many shares of Harmonic Inc. Common Stock does BlackRock Inc. beneficially own according to this filing?
As of December 31, 2023, BlackRock Inc. beneficially owns 9,198,154 shares of Harmonic Inc. Common Stock.
What percentage of Harmonic Inc.'s outstanding Common Stock does BlackRock Inc.'s ownership represent?
BlackRock Inc.'s beneficial ownership of 9,198,154 shares represents 10.0% of the class of Harmonic Inc. Common Stock.
When was the event date that triggered this filing?
The date of the event which requires the filing of this statement was December 31, 2023.
What is the CUSIP number for Harmonic Inc. Common Stock mentioned in the filing?
The CUSIP number for Harmonic Inc. Common Stock is 413160102.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 22, 2024 regarding HARMONIC INC (HLIT).