Petrus Trust Company LTA Invests $300,000 in Harmonic Inc. $HLIT

Key Points

• Petrus Trust Company LTA purchased 31,320 shares of Harmonic Inc. for approximately $300,000, indicating strong institutional interest in the company.
• Harmonic reported quarterly earnings of $0.09 per share, beating analysts' expectations, while also providing guidance of 0.020-0.070 EPS for Q3 2025.
• Wall Street analysts have mixed ratings on Harmonic, with a consensus rating of "Hold" and a target price of $11.67, reflecting varying expectations for the stock's performance.

Petrus Trust Company LTA bought a new position in Harmonic Inc. (NASDAQ:HLIT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 31,320 shares of the communications equipment provider's stock, valued at approximately $300,000.

Several other hedge funds also recently made changes to their positions in HLIT. CWM LLC lifted its stake in shares of Harmonic by 132.6% in the 1st quarter. CWM LLC now owns 7,119 shares of the communications equipment provider's stock worth $68,000 after acquiring an additional 4,058 shares during the period. Drive Wealth Management LLC acquired a new stake in shares of Harmonic in the 1st quarter worth $111,000. Cresset Asset Management LLC lifted its stake in shares of Harmonic by 16.5% in the 1st quarter. Cresset Asset Management LLC now owns 11,721 shares of the communications equipment provider's stock worth $112,000 after acquiring an additional 1,660 shares during the period. Virtu Financial LLC acquired a new stake in shares of Harmonic in the 1st quarter worth $114,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of Harmonic in the 1st quarter worth $132,000. Institutional investors and hedge funds own 99.38% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Barclays reduced their price objective on shares of Harmonic from $10.00 to $8.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 29th. Rosenblatt Securities reiterated a "buy" rating and issued a $11.00 price objective on shares of Harmonic in a research note on Tuesday, July 29th. Wolfe Research assumed coverage on shares of Harmonic in a research note on Tuesday, July 8th. They issued an "underperform" rating for the company. Needham & Company LLC reduced their price objective on shares of Harmonic from $14.00 to $12.00 and set a "buy" rating for the company in a research note on Tuesday, July 29th. Finally, Wall Street Zen cut shares of Harmonic from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Four 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's stock. According to data from MarketBeat, Harmonic has an average rating of "Hold" and a consensus price target of $11.67.

Harmonic Price Performance

NASDAQ:HLIT traded down $0.21 during mid-day trading on Friday, hitting $9.91. 704,169 shares of the company's stock traded hands, compared to its average volume of 1,003,408. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.58 and a current ratio of 1.99. The firm's 50 day simple moving average is $9.24 and its 200 day simple moving average is $9.35. Harmonic Inc. has a 1 year low of $7.80 and a 1 year high of $15.46. The company has a market cap of $1.13 billion, a PE ratio of 16.80 and a beta of 1.01.

Harmonic (NASDAQ:HLIT - Get Free Report) last posted its earnings results on Monday, July 28th. The communications equipment provider reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.06. Harmonic had a net margin of 9.96% and a return on equity of 17.83%. The firm had revenue of $138.03 million during the quarter, compared to the consensus estimate of $134.90 million. During the same period last year, the firm posted $0.08 EPS. The firm's revenue for the quarter was down .5% on a year-over-year basis. Harmonic has set its Q3 2025 guidance at 0.020-0.070 EPS. Sell-side analysts expect that Harmonic Inc. will post 0.31 EPS for the current 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.